Lawmakers in Arkansas Propose Bill for Authorized Online Gambling and Prohibition of Sweepstakes Operations
Week's Hottest Gambling News: From Arkansas to New York, Lawmakers Crack Down on Sweepstakes Casinos
Listen up, gambling enthusiasts! Lawmakers in various states are shaking things up in the world of online gaming. In Arkansas, they're aiming to outlaw sweepstakes gaming while legalizing online casinos.
On Wednesday, the Senate and House received two companion bills, SB524 and HB1861. The House bill is under review by the Judiciary Committee, while the Senate bill is gearing up for a floor vote. This legislation is the brainchild of Rep. Matt Duffield (R) and Sen. Dave Wallace (R).
If approved, these bills would make it a felony to operate online sweepstakes casinos and sportsbooks that rely on dual-currency funding. Land-based casinos in Arkansas—Southland Casino Hotel, Oaklawn Racing Casino Resort, and Saracen Casino Resort—might jump at the chance to venture into the online gambling market. Be prepared to see these three giants teaming up for a digital gaming revolution!
The Interactive Gaming Act would also allow universities to conduct Name, Image, and Likeness (NIL) drawings to benefit student-athletes financially. The legislative session wraps up on April 11.
Saracen Casino Resort and Online Gaming: A Match Made in Heaven
Saracen Casino Resort, one of Arkansas' powerful players in the gambling scene, supports the proposed legislation and the much-needed crackdown on sweepstakes gaming. In a statement, Saracen's Chief Marketing Officer, Carlton Saffa, voiced concern about unregulated, untaxed casinos full of consumer danger.
Saffa accused offshore operators of flouting state laws and established a connection between these Operators and Chinese entities. He argued that a mere ban on foreign companies is insufficient, as the foreign entities are already breaking state laws. One can only guess what's coming next for Saracen and online gaming in Arkansas.
Oaklawn Racing Casino Resort Stands Against Expansion
Oaklawn Racing Casino Resort, another major player in Arkansas' gaming industry, has expressed opposition to the proposed online gaming expansion. Past concerns about increased competition and the potential impact on brick-and-mortar operations have surfaced again.
A National Trend Emerging
Arkansas isn't the only state fed up with the unregulated nature of sweepstakes platforms. New Jersey, New York, Connecticut, and Mississippi are also taking steps to comb through the regulatory loopholes of these operations.
New York has proposed legislation to regulate the use of dual-currency systems, paving the way for potential bans on such systems. Meanwhile, New Jersey is actively considering legislation aimed at regulating or prohibiting these unregulated gaming platforms.
Connecticut has plans to prohibit lottery couriers and redefine gambling to include online sweepstakes platforms offering simulated online casino gaming. High 5 Games, a well-known gaming company, has already abandoned its unregulated offerings in Connecticut after facing regulatory action.
Mississippi is joining in on the action, working towards prohibiting online sweepstakes operators due to concerns about regulatory gaps and the platform’s unregulated nature. Arkansas could potentially become the eighth state in the union to oversee online casinos if iGaming is legalized.
Big-name gaming firms such as FanDuel, DraftKings, and bet365 might enter the market, offering regulated and licensed gaming options for users. The gambling landscape is changing, and it's time to stay informed!
- Saracen Casino Resort, a key player in Arkansas' gambling industry, has vocalized support for the proposed legislation aiming to outlaw sweepstakes gaming, with concerns about consumer safety and unregulated, untaxed casinos.
- In contrast, Oaklawn Racing Casino Resort, another Arkansan gaming giant, has brought up past concerns about increased competition and the potential impact on brick-and-mortar operations in response to the proposed online gaming expansion.
- A national trend is emerging, with states like New York, New Jersey, Connecticut, and Mississippi also addressing the unregulated nature of sweepstakes platforms by considering regulatory changes or potential bans on dual-currency systems and unregulated gaming platforms.
