Arkansas sports betting expected to supersize this weekend
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Pine Bluff's Saracen Casino Resort expects Super Bowl wagers to be up 12-15% from last year, thanks to the addition of mobile sports betting, its executives told Axios.
Why it matters: More than $198 million in wagers were placed on sporting events in Arkansas in 2022, with the state's three casinos paying more than $3 million in taxes.
- Nationwide, 50.4 million adults are expected to bet $16 billion on the big game, per the American Gaming Association — roughly double last year's record tally.
Driving the news: For the first time, the Super Bowl is in a state where sports betting is legal — and at a stadium with its own sportsbook, Axios' Jeff Tracy writes.
- The game at State Farm Stadium in Glendale, Arizona, represents America's — and the NFL's — evolved stance on gambling.
Zoom in: In-person sports betting was legalized in November 2018, but betting by app in Arkansas went into effect in March 2022.
- This weekend will be the first time a person in NWA can place a bet on the Super Bowl without physically being in Hot Springs, Pine Bluff or West Memphis.
What they're saying: Bet Saracen operations manager Jake Bush, chief marketing officer Carlton Saffa and sportsbook director Neal Atkinson told us they're looking forward to an exciting weekend. Because decision-making happens in Pine Bluff, the casino will be able to offer about 100 "proposition" bets — a wager on an occurrence or nonoccurrence during the game, like the outcome of the coin toss.
- These types of bets, especially ones made as the game evolves, drive excitement and increased betting.
The intrigue: The three Saracen officers said they can handle just about anything through the casino's app. One fan recently placed a mobile two-game parlay of $100,000 on the NFL playoffs.
- "She won," Bush said.
By the numbers: Arkansas casinos pay 13% in taxes on all sports betting revenue up to $150 million during the year. The rate moves to 20% of all revenue above $150 million.
- 55% of the taxes collected go to the state's general revenue fund.
- 27.5% goes to the city and county in which the casino is located.
- 17.5% goes to the Arkansas Racing Commission for deposit into its Purse and Awards Fund.
Of note: Oaklawn and Southland did not respond to Axios' requests for information.
What we're watching: November is the biggest month for sports betting, Bush told Axios, but March, with its college basketball frenzy, is the second largest.
Go deeper: Sports betting: The big picture