Mobile Betting Coming to Arkansas in Time for 2022 March Madness
If you have been keeping up with the latest sports news, you would know that sports betting is seemingly taking over. More and more states are growing more proggressive on their gambling laws, which allows the sports betting business to grow even more.
It is one of the fastest growing industries and is taking over the sports world as we know it. Every time we see a commercial break nowadays, there always seems to be a sports betting ad waiting for us right there.
This is something to be very excited about if you are a sports fan. If you thought you were invested into your favorite team before, just wait until you drop a few bucks on them to win their next game.
Arkansas sports bettors are up next in that aspect, with mobile sports betting come their way soon. With how big the Super Bowl was betting wise, bettors in Arkansas are probably looking to join in on the fun.
With March Madness approaching quickly, mobile sports betting in Arkansas can be ready just in time.
Status of Sports Betting in Arkansas
Back in November of 2018, state voters in Arkansas opted in favor of sports betting. There have been some steady progressions since then, but mobile sports betting is the next big thing. Experts say that “mobile gaming has helped fuel a nearly 230 percent jump in revenue in the first 10 months of 2021.”
Arkansas only allowed in person gambling in up to 4 locations in their state. Now Arkansans can bet in the comfort of their own home and as often as they like.
The 4 locations that were legal to gamble on sports in Arkansas. They were the River Valley Casino, Saracen Casino Resort, Southland Casino Racing, and Oaklawn Racing Casino Resort.
Oaklawn’s general manager, Wayne Smith placed the first ever legal wager in the state of Arkansas. His first ever bet was $5, but it was a historical bet.
Soon you won’t have to travel all the way to one of those locations. You could just do it online when it becomes legal.
Mobile Sports Betting is On the Rise
Mobile sports betting is one of the most rapidly growing industries right now. The 1992 law that made sports betting illegal was overturned in May of 2018. Since then, the sports gambling business has skyrocketed.
Sports betting generated over $3 billion in 2021 and that number is sure to keep rising. The more states that legalize sports betting and mobile sports betting, the more the industry will continue to grow.
Sports betting has exploded in popularity after a law was struck down in 2018. In that time $97bn has been wagered in legal bets, growth this decade is meant to continue apace with the market expected to be worth $140bn in 2028 #gambling #markets pic.twitter.com/J3BA3gIIbl— Michael A. Gayed, CFA (@leadlagreport) February 14, 2022
Wednesday will be when the Arkansas Joint Budget Committee Administrative Rule Review Subcommittee will review the possible rule changes by the AR Racing Commission. If they decide in favor of the changes, Arkansas’ citizens will be able to bet on their mobile devices.
March Madness Betting Interest Continues to Grow
With the timing of the rule change coming quickly, online sports betting is going to be right in time for March Madness.
Scott Hardin is the spokesperson of the Department of Finance and Administration. He said, “then Arkansans with a download of an app and proving that you’re 21 years old and within the state of Arkansas, then you can bet on March Madness. So I think that really is a real possibility.”
With how sports betting has been growing so quickly all across the country, there is little that suggests that mobile sports betting will still be illegal when the decision is made.
$98,170,946,917 is estimated to be wagered across the country since June of 2018. That has turned into $7,175,002,038 in revenue, with $931,581,377 in taxes and jurisdiction revenue. With numbers like that, states across the US will be eager to get in on the action.
It is hard to tell how much has been bet on March Madness due to the lack of information. There are bets on friendly wagers, bracket contests, office pools, sportsbook bets, and more. But, there is an estimated $10 billion that is going to be bet on March Madness this year.
Again, that could increase as the industry continues to grow and more and more states legalize mobile sports betting.
If you are interested in getting in on the March Madness betting action, check out the best betting sites for March Madness.