Hawaii Sports Betting Bill Awaiting Second Senate Committee Hearing
HB1308 is still waiting to be heard in a second Senate Committee before it can go to the full Senate for a vote. As noted in our previous update, the bill also would legalize fantasy sports, however, the bill does not create a regulatory framework for those contests.
The original bill included a 10% tax rate and $250k license fee, however, they have been removed and are currently being negotiated. Lawmakers have indicated they would like to raise between $10m to $20m annually from sports betting. Given the size of the state, it means these rates are going to increase significantly.
The bill would authorize a minimum of 4 online operators and says that qualified applicants must be operational in at least 3 states. Since the state has not regulated gaming, the regulatory authority would fall under an existing state agency. However some of these agencies have testified in opposition to the bill.