Iowa became the third state to legalize sports betting in 2019 when Gov. Kim Reynolds signed SF 617 into law on Monday. Iowa joins Montana and Indiana as states who’ve decided to legalize sports betting this year.
Under the law, Iowans who are 21 years or older will be permitted to location bets on both professional and collegiate sports at any of Iowa’s 19 casinos.
On-line and mobile betting will probably be allowed also, supplied that the bettor verifies his age and identity at a land-based casino initial. Casinos will probably be permitted to have two separate online sports betting skins.
Gambling on collegiate sporting events will probably be legal, but in-game proposition bets on those games won’t be.
The bill places the Iowa Racing and Gaming Commission in charge of regulating the industry. According to the Des Moines Register, the commission hopes to possess rules and regulations in location for the fall, which would permit Iowans to place bets on sporting events this football season.
Operators will spend the state a $45,000 license fee and a $10,000 annual renewal charge. Sports betting revenue will probably be taxed at 6.75 %.
The bill also includes language that legalizes fantasy sports. That indicates that daily fantasy sports giants DraftKings and FanDuel may have access towards the marketplace with their online sportsbooks.
Even when that language weren’t in place, DraftKings has a partnership with Caesars and FanDuel has 1 with Boyd Gaming. Both of these corporations have a casino in Iowa and can most likely use their sportsbook as 1 of their two sports betting skins.
With Iowa becoming the most recent state to legalize sports betting, you will find now 12 states with legalized sports betting. Tennessee will most likely become the 13th state later this year following the legislature passed an online-only sports betting bill that the governor is anticipated to pass via inaction.