Competitors Vying for Legal Sports Betting Permits in Hawaii
Aloha, Sports Betting Enthusiasts! 🌺
Hawaii's Pending Legalization of Online Sports Betting Takes a Big Leap 🏁🏝️In a significant move this week, the Senate of Hawaii approved HB1308, paving the way for the Aloha State to join the league of states with legal sports betting. This bill, if signed into law, could see Hawaii's regulatory framework in place by July 1 of this year. But what about the players? Who's expected to dominate the Hawaiian sports betting scene? 🤔
Predicting the First Movers in Hawaii 🏃♂️🏆
The legislation allows for a minimum of four online sports betting platforms to operate in the state, with a reasonable 10% tax rate on revenue. Industry giants, like the Sports Betting Alliance (SBA), made up of DraftKings, FanDuel, BetMGM, and Fanatics, are likely to lead the pack. Given their proactive involvement during the legislative process, it's no brainer they're frontrunners to secure licenses to become legal Hawaii sportsbooks.
But is it a one-horse race? 🐎
While the SBA quartet dominates the conversation, the low tax rate and untapped Hawaiian market might lure additional operators. Powerhouses like Caesars Sportsbook or Bet365, known for their presence in several other states, could also vie for a piece of the action. However, solid intel on other sportsbooks' potential interest remains scant.
The bill's wording, which mentions "a minimum of four sports wagering operator licenses," leaves room for a surprise or two. 🎁
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Tags: bet365, BetMGM, Caesars, DraftKings, Fanatics, FanDuel, Hawaii, HI HB 1308, Josh Green, Sports Betting Alliance
Bylines:Michael Molter, Former College Basketball Scout for Florida State University and the University of Alabama under Leonard Hamilton and Anthony Grant, brings his NBA content expertise to cover legal sports betting bills, sports betting revenue data, tennis betting odds, and sportsbook reviews. Michael enjoys basketball, hiking, and kayaking when not caught up in mid-tier tennis matches. 🎾
- The approval of HB1308 in Hawaii signifies a leap towards legalizing online sports betting, which could potentially make Hawaii the latest state to join the league.
- The legislation allows for a minimum of four online sports betting platforms to operate, with industry giants like the Sports Betting Alliance (SBA), including DraftKings, FanDuel, BetMGM, and Fanatics, expected to dominate the Hawaiian sports betting scene.
- While the SBA quartet seems to lead the race, the low tax rate and untapped Hawaiian market could attract additional operators such as Caesars Sportsbook or Bet365.
- Given their active involvement during the legislative process, BetMGM, a part of the SBA, is a strong candidate to secure a license to become a legal Hawaii sportsbook.
- The bill's wording leaves room for a surprise or two, suggesting that more operators might be approved beyond the minimum of four.
- Michael Molter, a former college basketball scout, covers legal sports betting bills, sports betting revenue data, and tennis betting odds, adding his NBA content expertise to our general-news site.
- It's important to note that our website may receive commissions from partners when purchases are made through our links, and we tag relevant brands like bet365, BetMGM, Caesars, DraftKings, Fanatics, FanDuel, and Hawaii's HB1308 for easy reference.
