DraftKings, FanDuel Apply for Mobile Sports Betting Licenses in Arkansas
DraftKings and FanDuel have applied to enter Arkansas’ mobile sports betting market, a state that has long operated without national sportsbook brands due to a strict 51% revenue-share requirement.
Arkansas bettors could soon gain access to DraftKings and FanDuel after the two operators submitted applications to offer mobile sports betting in the state. If approved by regulators, both companies could begin operating immediately.
Scott Hardin, spokesperson for the Arkansas Department of Finance and Administration, told KNWA/FOX24 that if approved, the companies could partner with any of the three licensed casino sportsbooks in Arkansas.
He said a meeting has not yet been scheduled, but it could occur as soon as next week. If approved, the operators could begin operating in the state immediately.
The three licensed casinos are Oaklawn Casino in Hot Springs, Saracen Casino in Pine Bluff, and Southland Casino in West Memphis. According to reports, DraftKings would partner with Southland, while FanDuel would partner with Oaklawn.
What’s the Current Picture?
Arkansas legalized retail sports betting in 2018 and launched mobile sports betting in 2022. The state allows up to six mobile operators, two for each of the three retail casinos.
Currently, there are three platforms:
- BetSaracen (Saracen Casino Resort)
- Betly Sportsbook (Southland Casino)
- Oaklawn Sports (Oakland Casino)
The limited options and lack of national operators have led Arkansas to generate significantly less revenue than comparable states.
In 2025, Arkansas residents wagered roughly $655 million. By comparison, Iowa — a state with a similar population — generated approximately $2.9 billion in handle during the same period, more than four times Arkansas’ total.
Meanwhile, Missouri, which has roughly double Arkansas’ population, reported $543 million in wagers in its first month following launch in December 2025.
Why Arkansas Has Remained a National Gap
While mobile sports wagering has been legal for several years, unlike many other states, the market has remained limited to casino-operated platforms. The primary reason is the state’s mandatory 51% revenue share requirement.
Arkansas requires third-party operators, such as DraftKings and FanDuel, to allocate 51% of the sports betting revenue to their in-state casino partner. In most states, revenue splits are negotiated privately and often allow operators to retain a larger share. Arkansas’ structure materially compresses operator margins.
Due to the high requirements and the relatively low population of around 3.1 million, the economics for major operators may not have justified entry.
The new applications suggest either that the commercial terms have become more workable — or that geographic expansion and competitive positioning are now outweighing earlier concerns, particularly as state-by-state legalization slows.
Traditional Sportsbook Entry, not Via Prediction Markets
The move is also notable in the broader wagering landscape. Both DraftKings and FanDuel operate prediction market platforms across most states. However, neither company offers sports event contracts in Arkansas.
DraftKings Predict in Arkansas is limited to financial markets. Meanwhile, FanDuel’s platform in the state lists finance, economics, and commodities — but no sports contracts. Notably, both operators offer sports event contracts only in states where they don’t offer sports betting.
Their decision to pursue Arkansas through the state regulatory framework — rather than rely on their prediction market platforms — indicates a deliberate push into the regulated sportsbook market.
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