Arkansas could see mobile sports betting if rule change approved
Arkansas is now following the path of California and is now set to push for the approval of online sports betting. Decentralizing the amendment passed back in 2018 would allow for the expansion of the gambling business by the following year and would allow all Arkansas citizens to be able to place wagers without a location limit fixed to any legal regulations.
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Arkansas Sports Betting Winds of Change
It was Arkansas Racing Commission official Scott Hardin who announced that the approval to modify the original amendment granting Arkansas casinos to host gambling games is now on its way. The modification would allow for online web and app gambling, all made through licensed and approved casinos in the state. The ratification of the change, if it follows the new proposed guidelines, it could be passed and approved by February of 2022.
For this ultimate change to take place, various legal matters and steps are still pending to be reviewed, followed, and ultimately passed. This may just place Arkansas on the path that other states are headed.
Numbers Back Up a Change
While modifications remain on the path for approval, Arkansas locals have made sure their wagers speak in favor of a much-favored transitional expansion to online gambling. In 2019 Arkansas accounted for a total of $86 million placed in bets at three specific casinos. From this amount, approximately $12 million was absorbed by the state as tax revenue, making a clear case that an exponential increment in gambling operations could result in quite an attractive proposal for the state.
The Arkansas Racing Commission is set to vote Nov. 18 to allow mobile sports betting. If approved as anticipated, mobile sports betting could begin in Arkansas by January or early February, reports @NEWSLarryHenry. #sportsbetting #arkansas https://t.co/6wZ1Rfukp6 pic.twitter.com/WRwCIKFKLc
— Gambling.com USA (@Gambling_USA) November 9, 2021
The case for tax revenue recollection is a strong one and has made a statement in other states like California. On a similar note, the Golden State has proposed that new tax revenue sources can allow for the support of several State-sponsored social initiatives. The application and usage of these funds are to be determined by each state, yet higher revenues can bring about new opportunities to extend the realm of state spending.
To further the specifics of what kind of cuts the state is already taking from gambling, the limit by law was set a 13% tax on revenues below the $150 million mark. If topped by $150 million or more, the state applies a 20% revenue tax. Once again, the numbers just seem to make sense to strengthen state tax revenue recollection programs.
Approved Legalization Is Now Underway
If any doubts have been raised about the ratification of sports betting, Arkansas can be sure to look at other states for some agreeable preconditioned confirmation that they will soon engage in online sports betting.
Since 2018, a total of 32 states have already confirmed the legalization of sports betting. This, according to the American Gaming Association, is what was expected ever since matters were taken independently by the state legislature. In addition, preconditioned COVID-19 scenarios painted a gloomy portrayal of indoor entertainment activities.
With online apps and sites ready to offer service online bettors, it makes complete sense for regulations to amplify the level of flexibility that prior state guidelines defined for such activities.