Arkansas warns fantasy sports operators

Context: "Fantasy sports operators offer a version of the traditional fantasy football concept with a consumer creating a team and points being assigned based on performance. The consumer creating the best-performing team is rewarded," DFA said in a news release.

• "In the last year, these operators have offered a product associated with sports betting: player prop bets."
• Prop bets are wagers on an occurrence or nonoccurrence during the game — like the coin toss outcome.

State of play: Arkansas allows licensed fantasy-sports websites to operate, although they must verify the bettor is 21 or older.

• Fantasy operators pay an 8% privilege tax based on their gross revenue.

Of note: The only legal way to wager on a live sporting event in Arkansas is at one of the state's three licensed casinos or via the apps they offer.

By the numbers: More than $404 million in bets were placed on sporting events through Arkansas' three casinos in 2023.