Arkansas Sports Betting Posts Slight Increase in December

witnessed a slight improve in its sports activities betting exercise in December with a handle of $6.four million, up $100,000 from November.

According to figures launched by officials, the net winnings from the three casinos in the Natural State have been round $1.075 million, of which $136,984 went to the state in tax income. It was additionally the first time that each sportsbook of Arkansas’ three casinos brought in more than $1 million for the month. However, the dearth of reflects the overall market situation that remains slim in comparison with the opposite states’ swelling month-to-month figures, due to their on-line sportsbooks’ share.

Land-based casinos are nonetheless forced to look at strict capability limits amid the pandemic-led social distancing measures. Inevitably, this issue, mixed with the absence of online sports betting options, has contributed to the low deal with and revenue generation in Arkansas. Industry analysts have expressed concern over the depressing handle, which is basically eclipsed by the numbers achieved by the neighboring states every month.

Another Reason for the Dipping Performance

Of the last three months of 2020, October recorded the best handle of $6.fifty six million. This deal with instructed a bullish pattern for the, but November introduced dangerous news for the state’s sports activities betting market when neighboring Tennesseeon November 1. This saw the combined numbers of November and December comply with a downward development.

Currently, there isn’t any sports activities betting possibility in Arkansas except for its three casinos, which also have to observe state-mandated capacity limits. The Natural State additionally permits a very limited type of cell betting choice to be placed inside one of many state’s three on line casino venues. However, Arkansas bettors can cross the state to position legal wagers in the Volunteer State with out bothering to go to one of the three Arkansas casinos, a legal requirement according to the state legislation.

Tennessee sports betting, which saw, ought to be a salutary example for Arkansas to see what it has been lacking. During the pandemic, some states with digital sports activities betting markets even noticed greater than 90% of cellular share in the complete monthly handles. With a inhabitants of virtually half of Tennessee’s 6.8 million, Arkansas (3.1 million) may contribute pretty largely to its regulated sports betting business if cell betting was made available throughout the state.

Casino by Casino Figures

Southland Casino in West Memphis reported the highest handle in December, which was $3.four million. This was $100,000 lower than the venue posted in November, however, the adjusted gross income rose from $30,000 in December as much as $590,679.

Oaklawn Casino in Hot Springs, the primary sportsbook to open within the state following the legalization of the business in 2019, noticed a deal with of $2 million, up $200,000 from November’s figures. Yet, revenue decreased by almost $80,000 from $315,600 to $239,033 over the month.

The third venue, Saracen Casino in Pine Bluff, also reflected a rising deal with with $1.03 million in December in comparison with the previous month. However, the biggest bounce was within the income, to $244,559 in December from November’s $99,599.

The Natural State drew $76,788 from Southland Casino, $31,074 from Oaklawn, and practically $29300 from Saracen in tax income.

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