The third state in 2019 to legalize sports betting is Iowa, as Governor Kim Reynolds signed SF 617 into law. The new law would see tax rate on sports betting revenue be 6.75%, while a license fee will cost $45,000. Let’s take a look.
By checking out the latest online gambling news, you’ll be able to find many gambling-related stories out there which project the rules which the US Supreme Court made last year. Since a year, gambling outside the state of Nevada has become legalized.
Online Sports Betting Becomes Legal in Iowa
Iowa has 19 casinos that are now eligible to offer sports betting. Betting on college games will be allowed but bets involving in-state college teams will be prohibited.
In-person registration is required for those choosing to use mobile apps, which is in place until January 2021.
Back in January, Prairie Meadows formed a partnership with William Hill. This was before Catfish Bend joined alliances with US newcomer PointsBet.
It is expected that both DraftKings and FanDuel’s sportsbook will be granted access to the market. DraftKing’s formed a partnership with Caesars and FanDuel struck a deal with Boyd Gaming. Both of these casino companies own properties within the state of Iowa.
Sara Slane, the American Gaming Association executive, published a statement in response to the news:
“The state of Iowa has set its legal sports betting market up for success with a reasonable tax rate, mobile wagering, strong consumer protections and provisions that put responsible gaming at the forefront.”
Let us know what you think about the new legislation in Iowa making online sports betting permitted. Could we possibly see Iowa reach the same levels as New Jersey, who have had a highly successful year since gambling became legal within the state. Feel free to add any comments in the comment section below about your own thoughts.