Arkansas Introduces Bill To Grant 4 Multi-Channel Sports Betting Licenses

The number of states in the US opening its door to sports betting, both mobile and online, seem to be rapidly growing. The last in the line which seems to be only a few steps away from having this form of entertainment accepted as legal is Arkansas.

The Senate Bill 669 proposing the legislation was introduced by Senator, Will Bond. According to the plan…

…The Arkansas Racing Commission should grant up to four sports wagering permissions to venues across the state.

The current restrictions allow one license per county. Though things seem to be more than optimistic with online gaming, some land-based projects encountered certain obstacles.

Let’s Talk Fees

The first hints that sports wagering stands a good chance of becoming a reality in Arkansas were actually in November 2018. After mid-term elections, the state okayed the idea of legislation. With the latest, positive, course of events, what appear to be the main topics at hand are…

…locations and fees.

As far as the bill determines, only venues that are situated in counties with more than 25,000 people will get the operating license. In addition to this, the facility itself needs to be located at least 75 miles away from the closest hub.

The cost of the license would be $1,000 (£758/€890). However, if the bid is successful, half of it would be refunded to the applicant. The annual operation fee for third-party interactive betting platforms would be $10,000.

Wide Range of Sports Contests to Wager on

Being among the most popular forms of betting, sports wagering always gets more attention. With the idea to offer as great a spectrum of activities as possible…

…the licensed establishments in Arkansas will have permission to strike deals with out-of-state vendors.

The Athletic Event Wagering Act of 2019 sets a tax rate of 12.5% of gross in-person sports betting revenue and 13.5% on mobile betting revenue for parlors that gain permission. Besides this, the hubs will have to pay 1% of the wagered amount as an “integrity-fee” to sports leagues. This goes in cases consumers place bets on professional or amateur athletic association events.

The bill forbids placing bets on Special Olympic Events, WWE wrestling events, as well as in competitions sanctioned by the American Kennel Club.

Four Venues With Permissions

So far, the state, or to be precise, the Arkansas Racing Commission, gave approvals for four venues to operate. The first hub to receive the license and make table games available is Southland Park Gaming and Racing.

As for the age limits, only consumers that are over 18 can bet on sports, but they don’t have to in person to be able to access mobile or web-based services.

Source:

“Bill propose 4 multi-channel wagering permits in Arkansas”, igamingbusiness.com, April 4, 2019.