Online gambling could potentially be legalized in Arkansas, with proposed bills additionally prohibiting sweepstakes.
In the heart of Arkansas, some fresh casino bills are stirring things up, hoping to bring online casinos to the table while outlawing sweepstakes casinos, following other states' lead. On Wednesday, a group of lawmakers put forward Senate Bill 524 and House Bill 1861, eyeing the state's existing casinos for iGaming licenses. These land-based casinos, which already run online sportsbooks, could take Arkansas' gambling game to a whole new level, potentially making it the eighth state with legal iGaming.
The bills aim to put a stop to sweepstakes casinos, which are considered a wild, unregulated form of gambling. The proposals have until April 11 to gather lawmakers' support in both chambers before the legislative session wraps up. Supporters believe that eliminating sweepstakes sites is the ticket to taming the chaos, eradicating the unregulated scene that currently thrives without contributing to the local economy.
Although the rate at which iGaming revenue will be taxed remains a mystery, an intriguing clause in the bills hints that money from inactive accounts will end up with the Arkansas Racing Commission after 16 months if no activity is detected for two years.
While the ins and outs of tax rates and dormant accounts are yet to be disclosed, it seems that the debate continues, with lawmakers grappling with these details in the lead-up to the interim study's conclusion. For more specific and up-to-date information, it's best to keep an ear to the ground for any updates from the bill sponsors or committee reports.
- The bipartisan Senate Bill 524 and House Bill 1861, currently under discussion in Arkansas, aim to prohibit sweepstakes casinos and introduce online casinos in the state, potentially making Arkansas the eighth state with legal iGaming.
- The Arkansas Racing Commission could potentially benefit from revenue generated from inactive accounts after 16 months if no activity is detected for two years, according to an intricate clause in the proposed bills.
- The crime-and-justice sector and the general-news media are closely watching the progress of the bills, as supporters believe that eliminating sweepstakes sites is crucial for taming the unregulated form of gambling, contributing to the local economy.
