The experts at BetArkansas.com have developed this guide to help you better understand the terms used when discussing Arkansas sports betting revenue and handle. The state releases those figures on a monthly basis.
Arkansas voters approved a constitutional amendment allowing sports betting in November 2018. The first bet was placed at Oaklawn Racing Casino Resort in Hot Springs in July 2019. However, online wagering did not start until March 2022. Sports betting is available at the state’s three casinos; a fourth casino is planned in the state.
Under state law, each Arkansas casino can partner with two online sports betting operators. However, due to a rule that requires operators to share at least 51% of revenue with their casino partners, most major sports betting operators – the kinds of national brands that would often offer Arkansas sportsbook promo codes – have not yet launched in the state.
Still, since the first app launched in March 2022, mobile wagering has become the most popular choice for Arkansan bettors. Of the $25.5 million wagered in April 2023, $21.9 million was bet through the three currently active sports betting sites: Betly, which is the operator associated with the Southland Casino Hotel in West Memphis; Bet Saracen, which is associated with the Saracen Casino Resort in Pine Bluff; and Oaklawn Sports, which is associated with Oaklawn Racing Casino Resort.
The three commercial Arkansas sportsbook apps operators combined for about $22.55 million in sports betting handle for August, as preseason NFL games helped them record a 28.3% increase in wagering action compared to July. The exact figure was $22,553,214, up 28.3% from July ($17,577,626).
That was just a hint of what’s to come, as figures for September and October should go much higher with the return of regular-season NFL and college football, by far the most popular betting pastimes in Arkansas as well as pretty much the whole nation.
As usual, the mobile betting portion of the market was dominant, with $20,274,233 in August handle, up 30.6% from July ($15,528,318). Since mobile wagering began for all three operators in Arkansas, around 90% of wagers have been taken via mobile, desktop or laptop devices.
However, the revenue from Arkansas sports betting fell in a month-to-month comparison to July. The sports betting net win, or revenue, was $1,673,538 last month, a 19.4% decline from $2,077,422 in the previous month’s report from the Arkansas Racing Commission.
Total sports betting taxes came to $217,560 in August, a decline of 19.4% from $270,065 in July.
Sports bettors in Arkansas wagered $185.5 million in 2022. Of that, $122.3 million was wagered through online sportsbooks, the first of which opened in the state in March 2022.
Arkansas includes sports betting in with casino revenue for tax purposes. The state taxes the first $150 million of casino gaming revenue at 13% and the remainder at 20%.
Arkansas releases sports betting revenue figures on a monthly basis. Typically, it is released during the middle of the month.
Gaming tax revenue in Arkansas provides funding for education and public safety in the state.
Sports betting is regulated by the Arkansas Racing Commission.
Mobile sports betting is defined as the amount of money wagered through apps on mobile devices or online websites. Mobile wagering started in Arkansas in March 2022.
The handle is the amount of money bettors wagered for a specific period. The revenue is what sportsbooks retain after paying out winning wagers. In 2022, the licensed operators combined to report just more than $17.9 million in revenue.
The experts at BetArkansas who bring you the latest updates in Arkansas sports betting as well as the state's casinos. We pull together decades of experience to give you analysis as well as information on Arkansas online gambling apps.