SB669 Summary

• Authorizes the Arkansas Racing Commission to publicly auction 2-4 licenses for athletic event wagering facilities in counties not served by casinos, with one license required for Pulaski County and specific population/distance requirements for others.

• Establishes the Athletic Event Wagering Act of 2019 with comprehensive regulations including age verification requirements, background checks for employees, prohibitions on wagering by participating athletes and licensee personnel, and integrity requirements.

• Imposes athletic event wagering premiums of 12.5% on on-site wagering revenue and 13.5% on interactive platform revenue, with funds deposited into the Athletic Event Wagering Fund.

• Dedicates Athletic Event Wagering Fund revenues as follows: 10% to University of Arkansas for Medical Sciences for mental health professional training; reasonable amounts for commission/department operating expenses; and remaining funds allocated by the General Assembly for affordable job training, vocational-technical education, and higher education.

• Requires licensees to maintain 3-year records of all wagers, conduct real-time information sharing with athletic associations if requested, pay 1% integrity fees to professional/amateur athletic associations, and comply with advertising standards prohibiting targeting of minors and vulnerable persons.