Iowa Is Now The Home Of Corn And Casinos With Sports Wagering
Eleven states have legalized sports betting by the one year anniversary of the Professional and Amateur Sports Protection Act’s fall. On May 13, Iowa became the eleventh state to legalize sports wagering at any of the state’s nineteen casinos and online.
The nuance with Iowa’s law is that No in-game proposition (prop) bets on college sports are permitted under Iowa’s law. That could change one year from now, but is expected to remain in place for the 2019 season.
“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,” said Sara Slane of the American Gaming Association.
Iowa still must establish rules surrounding its new sports betting law before actual betting options are rolled out. The state hopes to have the rules ready for the start of the 2019 college football and NFL seasons. Iowa’s Racing and Gaming Commission is tasked with meeting that proposed deadline.
Operators will pay a 6.75% tax on sports betting revenue and a $45,000 licensing fee. There is also a mandatory $10,000 renewal fee.
Montana and Indiana are the other two states that have legalized sports betting in 2019.