Arkansas Mobile Apps Turn Sports Betting Profit
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Arkansas sports betting in the two casinos with mobile apps saw an increase in revenue during July. After losing more than $530,000 since launching its BetSaracen app in May, Saracen Casino Resort had a net win in July of $199,263, according to the Arkansas Racing Commission.
Some of the earlier losses could be blamed on promotional free play for new bettors. Saracen showed a net loss in June of $301,416 alone. The July net win total at the Pine Bluff casino came on mobile bets of more than $4 million. That total was down from the $4.29 million wagered on BetSaracen platforms in June.
Southland’s Win Total Surges
In West Memphis, Southland Casino Hotel's Betly Sportsbook went from a net win in June of $195,281 to $279,474 in July. Although Southland won more in July than the previous month, the total amount wagered was down. In July, bettors wagering $2.77 million, compared to $5.03 million in June.
The resort, located across the Mississippi River from Memphis, Tennessee, is undergoing an expansion. In July, Southland opened the first phase of its 300-room hotel tower. The project is expected to be completed in the fall. A limited number of guest rooms are available now.
Southland also operates a greyhound racetrack, but dog racing is being eliminated by the end of 2022. Though the dog track is being closed, the casino and hotel will remain open.
Oaklawn App Expected Soon
The third Arkansas casino, Oaklawn Racing Casino Resort, anticipates launching a sports betting mobile app in August. Oaklawn already has a mobile casino app, Oaklawn Anywhere, for bettors wanting to wager on horse races. However, sports betting is not allowed on horse racing mobile apps. The Hot Springs resort is home to a historic thoroughbred racetrack.
Currently, national online bookmakers such as FanDuel Arkansas and DraftKings Arkansas are not operating sports betting apps in the state.
These national bookmakers would be required to share 51% of profits with local casinos when partnering on a sports betting mobile app. The national operators typically share 5-15%. Arkansas is the only state with a 51% profit-sharing rule.
Football Bounce Anticipated
Arkansas casinos expect an increase in sports betting with the start of college football season. On Sept. 3, the University of Arkansas opens its 2022 season at home against the Cincinnati Bearcats.
At FanDuel Sportsbook, Arkansas is favored by seven points.
Kickoff for the season opener at Razorback Stadium in Fayetteville is at 3:30 p.m. ET. The Razorbacks are ranked No. 19 in the Associated Press preseason poll. Cincinnati is No. 23.
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