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The online sports betting industry in Arkansas is about to get a bit hotter....maybe.
News broke Wednesday that both FanDuel and DraftKings have submitted applications to operate in the state.
Scott Hardin, a spokesperson with the Arkansas Department of Finance and Administration, told told KNWA/FOX24 that if approved, FanDuel and DraftKings could partner with any of the three existing casino sports books in the Natural State.
The three casinos in Arkansas are Oaklawn Casino in Hot Springs, Saracen Casino in Pine Bluff and Southland Casino in West Memphis.
To date, Arkansas has not been well served by the sports gambling sector.
Only Betly, Bet Saracen and Oaklawn Sports are regulated in the state at the moment. Each offers a proprietary betting platform that is not always viewed as being up to the standards of a DraftKings or FanDuel.
Case in point, Betly feedback often includes complaints about glitchy software and poor customer service. Last year's site redesign didn't seem to help matters either.
Oaklawn's sportsbook complaints often center around trying to request a payout.
The largest casino in Arkansas is Saracen Casino Resort in Pine Bluff. It offers the state's largest and best equipped gambling space, including the most slots. Saracen features an 80,000 sq ft gaming floor with well over 1,600–2,000 slot machines, table games, a poker room and a sportsbook.
But that sportsbook's mobile product leaves little to be desired. It is often criticized for a lagging interface.
All three sportsbooks currently available in Arkansas offer limited wagering options when compared to a FanDuel or DraftKings.
Hardin said that if either of those two companies are approved, the state’s casinos could choose to partner with these third parties on the sports betting apps they offer, potentially co-branding their sports betting apps.
Arkansas has had a tough time attracting the leading sportsbook providers as these companies must fork over at least 51% of their revenues to the casino operator. As a result, FanDuel and DraftKings likely won't offer the same lucrative welcome bonuses found in most states. It's possible the companies could charge a small fee when bets are placed as is the case in states like Illinois. Neither company has indicated they will do so as of yet.
Hardin noted that it will be up to the Racing Commission as to when they decide to consider the applications. A meeting is being considered for later in the month, but agenda items have not been decided.
Arkansas is a lucrative - and virtually untapped - market with the Razorbacks enjoying success in both college football and men's basketball. The Razorbacks basketball team currently owns a 19-6 record overall. Barring a disaster, the Hogs should be in the March Madness field come Selection Sunday.
- Chris Costigan, Gambling911.com Publisher
