Alaska Considers Bill for Online Sports Betting
In a significant move for the state’s gaming landscape, Alaska will hold its first hearing today on HB 145, a bill aimed at legalizing online sports betting. Introduced by Rep. David Nelson (R-18) in March, the bill is scheduled for discussion at 3:45 p.m. GMT in the House Labor and Commerce Committee.
Currently, Alaska permits games of chance and bingo, but lacks full-scale casino gaming. HB 145 proposes to allow up to 10 online sports betting operators to operate without being tied to physical gambling establishments. Should demand exceed ten applicants, the Department of Revenue will vet potential operators based on their experience in other states, projected revenues, and contributions to tax revenue.
To qualify, applicants must have existing online sports betting operations in at least three states, with a licensing fee set at $100,000. The bill also stipulates a 20% tax rate on adjusted gross sports betting revenue, establishes a minimum betting age of 21, and permits wagers on college sports and the Olympics, although it does not regulate daily fantasy sports.
Despite these promising developments, analysts predict that if legalized, Alaska’s sports betting market would be relatively small due to its limited population of around 740,000 residents. The state currently boasts no professional sports teams or Division I colleges, distinguishing it from other states where sports betting has flourished.
As this is the first substantial attempt to introduce online sports betting in Alaska in recent years, the outcome remains uncertain. The state’s historical absence from significant gaming legislation raises questions about the bill’s potential support and viability as it awaits scrutiny from lawmakers.
Source
Photo credit www.sportsbettingdime.com
