For the third consecutive month, Arkansas sports betting broke a record for handle in January.
The three sportsbooks in the state, each aligned with an Arkansas casino, took in $32,976,264 for the first month of 2023. That was a 6.6% increase from December’s $30,936,485, which itself was a record that stood for just one month.
January was the third consecutive month that the handle, or amount wagered, surpassed $30 million in the Natural State. Those are the only three months in which that has happened.
The mobile sports betting handle was $26,138,613 in January, also breaking the record from December ($25,159,715) and representing a 3.9% increase. Of that, more than $16.25 million was wagered at the BetSaracen app, which launched in May 2022.
Arkansas Sports Betting, January vs. December
Sports Betting Revenue Declines
Since September, the three Arkansas sportsbooks have combined for at least $2.79 million in sports betting revenue each month.
That streak continued in January with $2,868,244 in revenue, or sports betting net win. However, that was down 15.9% from $3.41 million in the Arkansas December betting revenue report.
Of that $2.87 million in January sportsbook revenue, $2,168,481 came from mobile outlets, a 17.0% dip from $2.61 million the previous month.
Arkansas has a stipulation that national sports betting operators must give 51% of their revenue to state casino operators, a much higher rate than in other states.
As a result, major national names such as BetMGM, FanDuel, Caesars and DraftKings have steered clear of the state. If that changes, perhaps customers will be able to access a BetMGM Arkansas Sportsbook along with the others.
Arkansas Casino Totals Dip in January
Statewide casino handle and revenue dropped slightly in January compared to the final month of 2022.
The casino handle fell 1.3%, from $608.1 million in December to just a hair under $600 million in January — $599,993,833, to be precise.
Meanwhile, revenue (net win) slid 2.1%, from about $46.45 million in December to $45,468,191 last month.
Southland Casino in West Memphis topped the list of Arkansas casinos in January with $286 million in handle (listed as terminal wagers in the monthly report from the Arkansas Racing Commission) and $21.8 million in revenue, or net win.
Oaklawn Racing Casino in Hot Springs was second in both categories with $167.43 million in wagers and $12.63 million in revenue, followed by Saracen Casino Resort in Pine Bluff ($146.53 million and $11.03 million, respectively).
Check with BetArkansas to see if the scene becomes more amenable for major national operators, and for the Arkansas sports betting promo codes that those companies would offer to customers for signing up.