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Sports betting in Iowa
If there is a state that is liberal about gambling, it would have to be the state of Iowa. The state has not only legalised sports betting but other forms of online gambling too. This is good news for gambling fans of Iowa as they can now login into their bookie of choice and enjoy both casino game and the thrill of sports betting.
Incidentally, even though an initial sport betting Bill, was drafted and tabled in the state assembly in 2018, the same was never passed into law. The legislators were unable to reach a consensus regarding the Bill’s finer details.
Relentless, the lawmakers, who were alive to the promise that the gambling sector held for the locals, drafted and fine-tuned a new piece of legislation which was passed into law by Governor Kim Reynold.
The law officially saw Iowa become the 11th state to legalise sports betting. The bill was sanctioned in May 2019, and sports betting went live on August 5 2019. The state has authorised both retail and mobile sports betting.
Top 3 Sportsbooks in Iowa
The History of Gambling in Iowa
The legalisation of gambling in the Hawkeye state began way back in 1991 when the country developed laws to allow each of its counties to deliberate on whether or not to build land-based casinos. As a result, 18 land-based casinos were established, all sanctioned to operate. The democratic space created for matters gambling also resulted in the building of several tribal and riverboat casinos.
In the past, attempts to legalise gambling in Iowa failed to succeed, probably due to the proscriptive regional climate towards gambling at the time. For example, a bill drafted in 2013, for example, failed soon after landing at the state assembly for deliberation. Similar subsequent attempts too were unable to see the light of day. Undeterred, the Iowa legislators resolved to formulate a scheme that would enable their residents to benefit and enjoy gambling.
Experts speculated that the Hawkeye State would be among the states that would legalise online sports gambling, right alongside states such as Nevada, New Jersey, and Delaware. True to predictions, the state passed a new Bill that saw Iowa mushroom into the centre of the US sports betting within just three months of legislation.
13th May 2019 – Great Happening for Iowa Sports Bettors
Iowa was the 11th state to legalise sports betting. This legalisation came through the Sports Wagering Act, which the State Assembly approved on 13th May 2019. The new law paves the way for punters to bet on fantasy sports as well as professional and college sports.
However, even though the law has sanctioned sports betting in Iowa, there was more work to be done before the law could fully take effect. The Iowa Gaming and Racing Commission had to pass the relevant Administrative Rules to govern sports betting. Luckily for punters, in July 2019, the Соmmіѕѕіоn promptly addressed the issue.
The Commission also approved the rules governing sports betting on a vote of 5-0. Soon after that, the Commission began processing license applications which had been presented by the state’s 18 casinos. In no time, sports wagering had officially taken off just in time for the state to reap from the NFL season.
For an establishment to operate as a legal gambling outfit, it must pay a $45,000 licensing fee to the state. After that, the establishment must pay a tax of 6.75% on all its sports gambling revenue. The state allows up to two sports book to operate under one license.
Presently, Iowa is one of the Middle Eastern states to watch, in so far as mobile gaming is concerned. Its residents can now freely game via their tablets and smartphones. However, punters must personally register for the mobile app in person through the respective brand’s website up to 2021.
Besides, the state boasts of 19 licensed casinos which have online betting and sports betting for their clientele. Some of the legal sportsbook of Iowa include:
- DraftKing Sportsbook
- William Hill
- FanDuel Sportsbook.
- 888
- PointsBet
- Bet365
- playMGM and more.
The Legality of Gaming in Iowa
The legalised forms of gambling and gaming in the state of Iowa are as follows:
- Tribal casinos
- Lotteries
- Charitable casinos (raffle and bingo-type games)
- Commercial casinos
- Sports betting (which is presently legal)
- Pari-Mutuel (racetracks including betting on Horses, greyhounds as well as simulcast)
- Prairie Meadows
- Isle Bettendorf
- Lakeside Casino
- Isle Waterloo
- Rhythm City
- Riverside
- Catfish Bend Casino
Regulation of casinos and sports book in Iowa falls under two bodies- those directly governed by the state of Iowa itself and those falling under the Tribal Compact. The latter refers to casinos and sports book regulated under an agreement between the state of Iowa and the respective tribe concerned
Iowa’s Gambling Statistics
| No. of Commercial Gambling Facilities: | Age Requirements | Casino Regulatory Body: | Lottery National Rankings: | Approx. Annual Gambling Revenue | Approx. Annual Gambling Taxes: |
| Licensed Casinos: 24 | 21 years | Iowa Racing and Gaming Commission | 34th | $1.14 billion | $726 million |
| Licensed Bingo: 3 | |||||
| Greyhound Tracks: 1 | |||||
| Greyhound Tracks: 1 |
Prospects
The state of Iowa has made a concerted effort to legalise gambling. With such a promising start, the future can only be bright. It is more so, given the fact that Iowa residents can register for mobile betting. For residents of the Hawkeye state yet to register, there is no better time than the present.