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Arkansas has emerged as the latest state to give the green light for legalized Sports Betting after a vote on Tuesday this week that saw the passing of Issue 4, a constitutional amendment that allows the state to issue casino gaming licenses to established casinos in four counties. The outcome saw 453,275 voters (54.1%) in favor of the amendment versus 384,526 who voted against.
The introduction of Sports Betting will be allowed in Arkansas thanks to a section of text contained in Issue 4 which defines casino gaming as including wagering on sporting events. The passing of the amendment, however, marks the beginning of what will likely be a lengthy process to get the first sportsbook up and running in the Natural State.
The primary focus will be on the Arkansas Racing Commission to establish a framework of rules and regulations governing all forms of casino gaming. The amendment stipulates that net casino gaming receipts will attract a 13 per cent tax rate on the first $150m. Gaming receipts that stray $1 or above that line will be levied with a 20 per cent tax.
SOURCE
The introduction of Sports Betting will be allowed in Arkansas thanks to a section of text contained in Issue 4 which defines casino gaming as including wagering on sporting events. The passing of the amendment, however, marks the beginning of what will likely be a lengthy process to get the first sportsbook up and running in the Natural State.
The primary focus will be on the Arkansas Racing Commission to establish a framework of rules and regulations governing all forms of casino gaming. The amendment stipulates that net casino gaming receipts will attract a 13 per cent tax rate on the first $150m. Gaming receipts that stray $1 or above that line will be levied with a 20 per cent tax.
SOURCE
