A House Representative in Alaska has introduced a bill seeking to authorize and regulate mobile sports wagering.
Should House Bill 145 pass through the legislature, Alaskans could legally wager as early as 1 January 2026.
The proposed legislation outlines a framework for licensing, taxation, enforcement, and responsible gambling.
Under Rep. David Nelson’s proposals, ten mobile sports wagering licenses could be issued in the Last Frontier. Each license would cost $100,000 annually, with the possibility of an additional processing fee. The rules stipulate that licenses would be non-transferable and valid for one year.
The Alaska Department of Revenue would be responsible for regulation, and the Commissioner would be authorized to approve licenses, conduct investigations, and enforce compliance.
Licensees would be required to adhere to strict integrity rules and use “industry-standard monitoring software” to detect irregular betting patterns. Any suspicious activity should be reported to law enforcement and the Commissioner of Revenue.
Could Crypto Sports Betting Head to Alaska?
The bill contains language that would likely make it impossible for crypto sportsbooks to become licensed in Alaska at the current juncture. Applicants for a license in Alaska would need to pass a national criminal background check and hold a mobile wagering license in at least three other American states.
Due to nascent regulations, no licensed operator in the United States of America currently accepts digital currencies as a means of deposit.
Another barrier to entry for crypto operators could be strict stipulations around Know Your Customer rules. The anonymity provided by blockchain may not align with the bill, which requires operators to “verify the identity of a person opening a sports wagering account to ensure that persons placing wagers are real” and geo-block betting from those outside Alaska state borders or under the age of 21.
The bill mandates the adoption of house rules covering bet payouts, errors, and game schedule changes. The commissioner must approve these rules, which must be made accessible through the betting platform.
Taxation and Enforcement
The proposed tax rate for operators who become licensed in Alaska is 20% of adjusted gross revenue. Adjusted gross revenue is defined as total wagers minus winnings voided bets, and federal excise taxes. Unlike some other states, promotions are not allowed to be deducted for tax purposes. In a similar manner to South Carolina’s proposed legislation, losses can be carried forward for up to three years.
Violations of the act could result in fines of up to $10,000 per incident. Licenses can also be suspended or revoked for offenses such as fraud, false statements, failure to meet financial obligations, or previous license revocations in other jurisdictions.
The bill explicitly defines mobile sports wagering as “a privilege and [not] a right.”
What’s Next for HB 145?
HB 145 has been referred to the House Labor & Commerce and Finance Committees for review. If passed, operations would not commence until the Department of Revenue issued at least three licenses.
Explore more articles like this
Subscribe to the Markets Outlook newsletter
Get critical insights to spot investment opportunities, mitigate risks, and refine your trading strategies. Delivered every Monday
Cointelegraph is a free to read website, by purchasing a product through affiliate links in our content, we may earn a commission at no extra cost for our readers. Which will allow us to finance our operations and continue with our research work for our readers. We ensure all recommendations go through in-depth editorial checks to maintain accuracy and quality. You can learn more about this on Content Guidelines and How We Rate pages.
