Arkansas Mobile Wagering OK’d With SEC Tournament on Horizon

Lawmakers gave the final approval Tuesday to a state rule legalizing mobile sports betting in Arkansas.

This means mobile sports wagering could be up and running in time for next month’s Southeastern Conference men’s basketball tournament, expected to be a heavily wagered event.

Arkansas Vote Passes Tuesday Morning

By a voice vote, the legislative Joint Budget Committee on Tuesday OK’d a proposed rule allowing statewide mobile wagering off casino property. Arkansas is home to three casinos. They are in West Memphis, Hot Springs and Pine Bluff.

The mobile wagering rule will be filed for 10 business days at the secretary of state’s office. The secretary of state has no authority to delay or overturn the rule under this mandatory 10-day filing period, according to state officials. Four rules setting up the framework for mobile wagering were approved last week and have begun the 10-day filing period.

Passage of the final rule Tuesday cleared the way for legal mobile sports wagering anywhere in Arkansas.

51% Profit-Sharing Approved

The rule approved Tuesday includes language granting local casinos 51% of profits when partnering on a mobile app with national online betting sites, such as DraftKings Sportsbook and FanDuel. These bookmakers typically share 5-15%.

The national bookmakers objected to the profit-sharing percentage being established in a government rule. These percentages normally are negotiated between businesses.

State casinos contend most profits should remain in-state, where thousands of casino workers are employed and tax revenue benefits state and local economies.

Mobile Wagering Can Begin Soon

At the end of the 10-day filing period, mobile sports betting can begin, once the mobile betting apps, called “skins,” will be available for users to download.

The state's three casinos are expected to create their mobile betting platforms for use on smartphones and computers.

The casinos, which are given two skins each, also can partner with national online bookmakers in providing mobile apps for bettors to use across Arkansas.

SEC Tournament Targeted for State Date

The 10-day waiting period is set to expire in time for the Southeastern Conference men’s basketball tournament next month, meaning residents can start using college basketball betting sites on the biggest events of the year.

This year’s SEC tournament will be held March 9-13 at Amalie Arena in Tampa. The SEC’s Arkansas Razorbacks, ranked No. 18 nationally, are expected to attract heavy betting interest in the Natural State.

The final day of the tournament falls on Selection Sunday, the date teams are picked to participate in the NCAA tournament, known as March Madness.

The Razorbacks, with a record of 21-6 to start the week, are projected to be selected to play in the NCAA tournament, which begins March 15.

The Associated Press reported this week that the Razorbacks moved up higher in its Top 25 poll than any other team.

“No. 18 Arkansas had the biggest jump of the week, moving up five spots after blowing out Missouri and shutting down No. 17 Tennessee,” the AP reported.

The Final Four teams will advance to New Orleans for a shot at the national title. The championship games are set to be played April 2-4 at the Caesars Superdome.

Sports Wagering Rule Required Full Committee Vote

Last week, the Joint Budget Administrative Rule Review Subcommittee approved the key rules legalizing mobile betting anywhere in the state.

Rules approved in the subcommittee require an OK from the full Joint Budget Committee.

Gov. Asa Hutchinson, a Republican, has said he supports legalized mobile sports betting partly because it will keep Arkansas competitive with neighboring states, such as Tennessee and Louisiana, where it is operational.