Sports betting in Arkansas has been live since March. The state allows for both online sports betting, as well as brick-and-mortar betting. But if you compare the local sportsbooks with other states, it is quite noticeable that there are limited options, and there are no big-name sportsbooks in the state. While the situation is not as complicated as that of sports betting in California, it does make us wonder why things are a little bit different in Arkansas.
Currently, the three casinos in Arkansas offer sports betting in their casinos, and have also launched their own online gambling platforms. Not all of them offer online sports betting, but will be offering these products soon. Given how easy it is to do, as what you will learn when you study how to open a bookie website, why would there be a lack of interest in Arkansas?
Sports Betting in Arkansas
According to the law, online sportsbook operators have to partner with Arkansas casinos. However, all online sportsbooks are in-house. This is not because of a lack of demand, but rather a money issue. According to the rule set by the Arkansas Racing Commission, outside sportsbooks will have to share 51% of their profits with the casino that they will partner with. In other states, the standard profit-sharing rate usually goes between 5%-15% only.
This alone is a huge deterrent to online sportsbook operators. Even if you have a bookie pay per head sportsbook that earns well, would you want to share more than half of your profits when you are doing all the work?
This rule is frustrating not just for operators, but for bettors as well. Residents have voiced their opinions to legislators, and these legislators are frustrated that there are very little options available. This makes for a market that will have limited betting options, as well as having a less-competitive betting market. These two factors could be detrimental to the bottom line of the market in the long term. Time will tell if the commission will change its rule, or if state legislators will do something about it.