Arkansas Sports Betting Up in January 2020
By
Feb 24, 2021
Arkansas sports betting hit record highs last month, reporting its highest betting handle, revenue, and taxes collected for January.
Arkansas bettors placed $7.2 million in wagers, up 12.5% from December. Revenue was up 27% month-to-month going from $1.1 million to $1.4 million, while the state collected $180,474 in January. All sports betting locations, Oaklawn, Saracen, and Southland, reported record revenue numbers in January.
The hold for January was also the highest reported in Arkansas since the launch of sports betting. The state also passed the lifetime $50 million betting handle mark after the January report and collected over $7 million in revenue.
Regardless of how the report is viewed, it was a great month for Arkansas sportsbooks.
Arkansas Sports Betting is Looking Good in February
With another strong month in February, Arkansas should collect over $1 million in taxes all-time, and the state now has no problem achieving that mark. Arkansas reported roughly $922,000 was bet on the big game, up from $705,000 last year.
The state not allowing online sports betting is holding Arkansas back. The state has three casinos located in Pine Bluff, Hot Springs, and West Memphis, and only Pine Bluff is in the top-10 of most populated Arkansas cities.
According to the Arkansas sports betting bill, the state will grant one more sports betting license before the state hits its cap of four sportsbooks.
Logistically, to help Arkansas see a larger increase in its betting handle, the sportsbook should go in Little Rock, which is by far the largest city in Arkansas. If not, Fayetteville, Fort Smith, Springdale, or Jonesboro would be great options.