Hawaii online sports betting offers great odds
Hawaii is one of the states with the strictest gambling restrictions.
The island nation, located 2,000 miles from the continental United States, does not allow commercial or tribal casinos, racetracks, sports betting, online gambling, pari-mutuel wagering, or non-profit gambling. Hawaii doesn't even have a lottery, one of the only states that does today.
Hawaii's longstanding hostility to gambling is largely due to the state's cultural values and spiritual beliefs. But it's also because a large population is considered susceptible to addiction.
Lawmakers in Honolulu regularly introduce legislation to repeal the state’s gambling ban. The same is true this year, as two bills aimed at allowing online sports betting have been introduced.
Senate Bill 3376 was introduced by Senate President Ronald Couch (D-Kaua‘i, Ni‘ihau). The bill seeks to establish a regulatory framework for approving online sports betting and interactive poker.
House Bill 2765 seeks to allow only online sports betting. The bill comes from Rep. Daniel Holt (D-Sand Island, Iwilei). Holt tried and failed last year to legalize arcades that would allow sports betting and poker.
Both articles have a strong chance of gaining legislative support and reaching the desk of Gov. Josh Green (D). Green said he would consider any legislation that reaches his office. But he said the country needs to be cautious when approving new industries that could cause social problems.
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Under Kouchi’s bill, SB3376, licensed sports betting and online poker operators would be required to pay a one-time $50,000 fee to the state upon obtaining a license. Oddsmakers are subject to a 70% initial tax on their total income from bettors and poker rake. Once the minimum 5% is reached, the tax will be reduced by 5% per year.
To protect Hawaii residents who gamble on the Internet, and to protect the revenue Hawaii generates through online sports betting and poker, by authorizing and enforcing a system of accountability and law for safe, online sports betting and poker gambling,” Kouchi wrote in his bill .
Couch said offshore operators illegally serving Hawaii residents made "tens of millions of dollars." But they do not tax, are not fairly regulated, offer no consumer protections, and offer no tax benefits. Sports betting and iPoker laws set the minimum age for participation at 21 years.
Holt's HB2765 legislation leaves open the question of permit fees and tax rates. However, the bill would allow people as young as 18 in Hawaii to bet on sports over the Internet.
The House gambling measure would only allow commercial sports betting operators with licenses in at least three states to apply for online gambling privileges in Hawaii.
Bills face huge opportunities
Legislation before the Hawaii State Legislature must be filed by the close of business on Jan. 24. The Legislature's 2024 session will last until May 3.
Both the Hawaii Senate and House of Representatives are tightly controlled by Democrats. The party retains 23 of the 25 seats in the Senate and 45 of the 51 seats in the House of Representatives.
The Gambling Bill 2024 has been referred to the economic development committees of the respective chambers of commerce.
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Source: www.casino.org
