Weekly Roundup 2/25/22

Chris Altman Sports Betting Expert

3 minute read

Arkansas Will Go Live with Online Betting

Arkansas' most recent attempt to legalize mobile sports betting has gained serious momentum.

The Arkansas Racing Commission (ARC) was the first ball to hit the Newton's cradle, as they decided in 2021 to move forward with drafting a set of rules for online sports betting. That ruleset was passed on to Arkansas' Joint Budget Committee Administrative Rule Subcommittee, and later to the Joint Budget Committee as a whole.

Usually, passing through committee is the death knell for a sports betting bill, especially in a conservative-leaning legislature such as Arkansas'. However, the most recent effort to legalize and tax online sports betting seems to have some serious oomph, and has reached one of the most difficult milestones for any bill, sports betting or otherwise: bipartisan support from both the House and Senate.

At least one sportsbook is going to be live in time for the slated launch date of March 4, 2022: Bet Saracen. This sportsbook provided by the Saracen Casino Resort is the first casino in Arkansas and now, will be the first online sportsbook in the state.

BetMGM Co-Owner Entain Announces Acquisition of Avid Gaming

Sports Interaction, owned by Avid Gaming, now has a new owner in the form of Entain, a massive provider of sports betting, gaming and tech services worldwide.

The BetMGM co-owner is setting its sights on the burgeoning Canadian sports betting market with this deal, which in part acquires Entain a piece of the sports betting pie in the US' friendly neighbor to the north. Sports Interaction has been providing sports betting in Canada since before the passage of C-218, a change to Canada's criminal code which makes available the full menu of sports bets, including single-event wagers.

While C-218 changes the landscape of legal sports betting in Canada, many interested parties including tribal authorities are having their say. Grand Chief of the Kahnawake, had this to say:

"(This acquisition) clearly shows the confidence that another 'blue chip' company has in our ability to conduct business at the highest level. Entain is not just successful, it is a global leader in the gaming world. With this new relationship, we fully expect to build our market share and create benefits for both Kahnawake and Entain."

Golden Nugget Sportsbook Launches in Arizona

Arizona only recently went live with online sports betting, and now, Golden Nugget is going to be the next on the roster of available sportsbooks in the Grand Canyon State.

In a sweeping deal, DraftKings will purchase Golden Nugget to the tune of $1.5 billion. Golden Nugget has a small share in several legal sports betting markets across the US, while DraftKings holds over 30% of the Arizona market. It's expected that Arizona will add at least 12 more mobile sports betting licenses to the roster in the near future, leading to a wider availability of betting across the state.

However, the addition of 12 more licenses will have to pass through the Arizona Senate, so it isn't yet a done deal.

North Carolina Governor Roy Cooper on Sports Betting: "Time to Do It"

North Carolina has been attempting to legalize online sports betting for some time now, most recently with SB 688. The bill still hasn't made its way to Governor Roy Cooper's desk, but he has indicated in no uncertain terms that he will sign.

Neighboring Virginia has had legal sports betting since 2021, and NC legislators are looking to get in on some of those revenues by legalizing the practice at home. SB 688 is still waiting in committee to be approved by the NC House, but it has a solid chance of making it through. Whether or not that happens in time for March Madness remains to be seen.

Written by Chris Altman, our US Sports Betting Industry Expert.

Chris Altman

Chris Altman is a sports betting writer and content expert with almost a decade of experience. He's covered everything, but his current focus is on reviewing sportsbooks and online casinos and keeping tabs on sports betting legislation. Chris has been with VegasInsider since 2019 and has freelanced in the sports betting content industry for years. More from Chris Altman