Arkansas poised to exceed $500 million in mobile sports betting revenue by 2024

Mobile sports betting in Arkansas is experiencing a massive surge in popularity, with projections indicating that it will generate over $500 million in revenue this year. This significant increase from $404 million in 2023 can be attributed to the rise of mobile betting through the state’s three casino apps.

Scott Hardin, the Racing Commission Spokesperson, highlighted that Arkansans are wagering an average of $1.55 million per day on sports through these apps. The revenue generated from sports betting has also had a positive impact on the state, with approximately $5 million in taxes collected in 2023. This revenue benefits the state, as well as the cities and counties where the casinos are located.

Despite the success of mobile betting, Hardin emphasized the importance of regulation in the industry. He stressed that the only legal way to place a sports wager in Arkansas is through the state’s casinos or their apps. Carlton Saffa from Saracen Casino echoed this sentiment and expressed the casino’s interest in launching an “I-gaming” app to offer casino games legally on mobile devices.

Saffa believes that allowing licensed and regulated casinos to offer online gaming will generate revenue for the state while providing a legal alternative to illegal offshore operators. Saracen Casino sees sports betting as a crucial part of its business and hopes to expand its offerings to include casino games on phones in the future.

The decision to allow “I-gaming” ultimately lies with the racing commission, and Saracen Casino is eagerly awaiting the opportunity to discuss this possibility. As mobile sports betting continues to thrive in Arkansas, the potential for further growth and innovation in the industry remains promising.