- Arkansas Racing Commission approves the launch of DraftKings and FanDuel Sportsbook apps
- Southland is partnering with DraftKings and FanDuel is partnering with Oaklawn
- Saracen Casino pleaded with regulators not to approve the change, but failed
LITTLE ROCK, Ark. – DraftKings and FanDuel are officially entering the mobile sports betting market in Arkansas, after an agreement was made with the Racing Commission on February 26.
DraftKings is replacing Betly Sportsbook through a partnership with Southland Casino, and FanDuel is partnering with Oaklawn to launch mobile sports betting as well.
Both legal sports betting sites could launch anytime, but are expected to be up and running before March Madness begins.
DraftKings/FanDuel Avoid 51% Sports Betting Tax
The biggest roadblock for big-name sportsbooks launching in Arkansas since the market was regulated in 2022 was the law that requires 51% of sports betting profits to remain with the partnered land-based casino.
In order to avoid this, DraftKings and FanDuel are both launching as the provider for each of the local casinos’ sportsbooks. This means that both casinos will have a mobile sportsbook powered by DraftKings and FanDuel.
Neither brand will be operating as third-party sportsbooks in Arkansas, which is where the 51% rule applies.
This new sports betting development was unanimously approved by regulators in Arkansas, as DraftKings and Sportsbook can potentially bring in more sports betting revenue to the state through larger partnerships and bigger brand recognition for players in Arkansas.
While regulators are happy (7-0 vote), not all of the Arkansas casino operators are on the same page.
Saracen, the third casino in the state with a sportsbook partner, asked the state not to approve DraftKings and FanDuel entering the market. Saracen might have a hard time matching the promotions and advertising that DraftKings and FanDuel execute.
