If you want to place a wager on your favorite Arkansas sports team, you can do so at an online sportsbook licensed in Arkansas. These sites accept credit cards and other major payment methods, and many will also accept cryptocurrency. They will even refund stakes if the bet loses money.
Online sports betting is a relatively new concept in Arkansas. Before, this activity was only permitted in casinos. In recent years, the Arkansas Racing Commission ruled that it is legal for sports bettors to place wagers on in-state sports teams. However, in order to be legal, sports betting in the state must be regulated. A regulated sportsbook will have to pay a licensing fee of $250,000 and must pay a tax of 13% on the first $150 million of revenue, and 20% of the rest.
The rules for online sports betting in Arkansas are still pending approval from the Arkansas Racing Commission and Gov. Asa Hutchinson. However, if they pass, mobile sports betting in Arkansas could be legal by early 2022. The state will distribute the revenues from mobile sports betting to the casinos. Until then, a 30-day public comment period will be required to gauge public opinion on the regulations. Afterwards, a revised version of the rules will need to pass the state’s joint legislative rules committee, and then be signed by the Governor.
The first online sports betting sites in Arkansas will likely be Betly. This online sportsbook will offer a large selection of sports games. The online sportsbook will have all the usual features of a sportsbook, including a variety of wagering options and bonuses. And it’s possible that local sportsbooks will soon join forces with online sportsbooks in Arkansas to offer mobile sports betting services.