A bill introduced last year to legalize sports betting in Alaska is back in the conversation for this legislative session.
House Bill 145 was introduced last March by Rep. David Nelson to legalize mobile sports betting in Alaska. The bill moved for the first time this session last week when Rep. Mike Prax was added as a cosponsor.
The Alaskan legislative session runs through May 20.
Details on sports betting in Alaska
The Department of Revenue would be granted authority to regulate and enforce mobile sports wagering, including auditing operators, adopting regulations and entering into wagering agreements with other states or jurisdictions where permitted under federal law.
The proposal would allow the state to issue up to 10 mobile sports betting licenses, each valid for one year and subject to a $100,000 licensing fee. Applicants would be required to hold or partner with an entity that holds a mobile sports wagering license in at least three other states, and undergo state and federal criminal background checks.
“If there are more applicants than available licenses, the commissioner shall issue licenses to the applicants that the commissioner determines are the most qualified based on each applicant’s past relevant experience and projected adjusted gross revenue and the projected amount of tax revenue the applicant is expected to generate,” the bill reads.
HB 145 would impose a 20% tax on adjusted gross revenue, defined as total wagers received minus winnings, voided bets and applicable federal excise taxes. Licensees would be required to file monthly tax returns as well as remit payments electronically, the bill states.
The bill restricts participation to individuals 21 years of age and older, prohibits advertising to minors and requires operators to display responsible gambling resources. Municipalities would be barred from imposing additional taxes on mobile sports wagering revenue.
Three sportsbooks needed for launch
The Alaskan sports betting market would not open until there were at least three licensees ready to launch.
The Department of Revenue has to announce the start date for sports betting at least two weeks in advance.
