March 20, 2023

Arkansas wagering units a brand new file in September

A variety of people in Arkansas are placing their chips in on the wide range of sports activities betting, with wagers totaling a file $21.18 million in September, properly above the earlier file of $12.6 million in June, in accordance with the Arkansas Division of Finance and Administration (DFA).

Sports activities wagers could also be positioned on the state’s three casinos or by means of apps provided by every on line casino. The person should be in Arkansas to ensure that the apps to simply accept wagers. Saracen On line casino in Pine Bluff led with a complete of $10.48 million wagered on sports activities in September, with $9.54 million of that wagered on Saracen’s app, in accordance with the DFA. The opposite casinos are Southland in West Memphis and with Oaklawn in Scorching Springs. A on line casino accepted for Pope County (Russellville) has been delayed by years of lawsuits.

“We anticipated to see sports activities wagers improve in September as a result of soccer season,” mentioned Scott Hardin, spokesperson for the Arkansas Division of Finance and Administration. “Nevertheless, $21.18 million was a shock because it surpassed the earlier file by greater than $8.5 million. On common, $706,000 was wagered on sports activities day by day in September.”

The primary authorized sports activities wager in Arkansas was positioned in July 2019, however wagers had been restricted to on-site on line casino property. A rule change in early 2022 allowed the state’s casinos to supply the web or cellular app possibility. Roughly $209 million has been wagered on sports activities in Arkansas since July 2019. Since July 2019, the state has collected $3.203 million in tax income because of sports activities betting.

See also  State enterprise leaders be a part of Governor in opposing leisure marijuana

In line with Hardin, all on line casino income is taxed at 13% as much as $150 million. When a on line casino’s income reaches $150 million inside one yr, all income above $150 million is taxed at 20% for the rest of the yr. Additionally, whereas $21.18 million was spent on wagers with the casinos, $17.977 million was paid out by the casinos, leaving just a bit greater than $3 million obtainable as taxable income.

“Whereas sports activities betting is actually rising, it stays a small portion of the general play and income for the state’s casinos,” Hardin advised Speak Enterprise & Politics.

July 2019, the primary month for authorized sports activities betting in Arkansas, generated $416,159 in wagers, with betting rising to $4.294 million in February, simply earlier than COVID-19. Apart from April 2020 when all betting operations had been closed due to the pandemic, the bottom month for betting was Could 2020 with simply $509.

Following are the month-to-month wager totals up to now in 2022.
January 2022

February 2022

March 2022

April 2022

Could 2022

June 2022

July 2022

August 2022

September 2022