The Basics of a Ballot Amendment to Legalize Sports Betting
Live Online Betting: Arkansans will soon be able to place their bets on sporting events at all of the state’s licensed casinos. Starting in 2021, the law will allow all licensed casinos to offer sports betting through the same online portal. Many states have legalized sports betting, but not all of them have legalized online gambling. Legalizers in the state of Arkansas feel that there is room for many more gambling establishments, and they are taking the preliminary step to allow live online sports betting.
Live Betting: It is estimated that around two million people in the United States place bets online. According to research from the Betting Exchange, a number of individuals place bets regularly online, with many more placing multiple bets. Live online sports betting is especially popular in Arkansas where there are a number of live casinos and internet casinos available for bettors. In recent years, there has been a rise in Arkansas residents who have become known as “bookie kings” by winning large amounts of money at various sports betting exchanges. In fact, it is not uncommon to see people walk into a sports book and place a bet within earshot of an actual dealer.
Unlike in the past when sports betting was primarily an activity reserved for those who could dedicate many hours of their time studying the game and its statistics, live online sports betting has become so popular that it has created its own industry. There are currently a number of companies that have been founded solely to handle all of the legal aspects of online sports betting. While this industry is relatively new, there is also a significant amount of money being spent in this area on a daily basis.
The first step in implementing the new law in Arkansas is for all online sports betting handles to institute strict guidelines for bookmakers and punters alike. All sports books must now have a registered office that is accessible twenty-four hours a day, seven days a week. The location of the sports books must be clearly indicated on their website and there must be regular business hours. Within these parameters, the company will strive to implement the twenty-four hour customer services so that customers can have any questions or concerns addressed to them immediately. A representative from the company must also make themselves available on the telephone to answer any questions that may arise during business hours. Any questions regarding the policies or procedures of the sports books must be directed to this individual.
The second step is to implement a series of guidelines for bettors to follow. These guidelines include the implementation of a sports betting license. These licenses will be issued by the state to everyone who wishes to participate in sports betting exchanges. By making it illegal to conduct sports betting transactions on gaming devices such as laptops and cell phones, the hope is that it will limit the amount of fraudulent sports betting activities that take place throughout the state. Additionally, by making it illegal to use a credit card to pay for online gambling activities, the hope is that this measure will discourage individuals from using their credit cards to make online transactions to any online casino that accepts major credit cards.
The third step towards sanctioning sports betting transactions through legalized sports betting is the addition of licensed sports betting broker to the transactions that are conducted on line. This person must be licensed by the jurisdiction that is in place and they will need to adhere to the guidelines that are put into place. The implementation of these guidelines and the addition of a licensed broker to the transaction makes it possible for online gamblers to enjoy the benefits that go along with legalized sports betting. In addition, it allows the regulated entity to better serve the customer by offering more options and by notifying them when changes to their operating procedures will take place.
The fourth step towards sanctioning sports betting is the mandatory inclusion of language in Initiative leaflets that volunteers must distribute to the voters in a certain area. The language must explain that it is in the best interest of the voters to legalize sports betting. If the initiative receives the necessary signatures from the voters, it will then be presented to the legislature for adoption as law. The legislature will be able to pass the proposition if it is supported by a majority of the voters.
The fifth step in the process is the collection of specific authorization funds from the county auditor before the sports betting initiative reaches the vote of the voters. Once the voters have decided to legalize sports betting, they must provide the county with a list of valid signatures from registered voters. If the initiative receives the necessary signatures from the voters, it will then be presented to the legislature for approval. Following this, the legislature will be able to pass the proposed amendment and make it law.