Iowa edges closer to legal sports betting

Iowa edges closer to legal sports betting

Iowa could become the next US state to legalise sports betting after a bill, which includes measures to permit affiliate partnerships, was passed on to Governor Kim Reynolds for signing off.

Published 23rd April 2019

Senate File 617 has passed by a vote of 67-31 in Iowa’s House of Representatives and has also been approved by the Senate, meaning only Reynolds’ signature stands in the way of it coming into law.

SF617 would permit in-person, online and mobile sports betting in Iowa, with tax set at a rate of 6.75% on operators’ annual sports wagering net receipts.

Licences would cost $45,000 (£34,640/€40,100) and operators would be able to enter into partnerships with up to two entities to set up additional sites for sports betting.

However, such affiliate-based partnership would only be permitted if the third party in question did not already hold a licence in Iowa.

Wagering would be available across professional and collegiate sports, but there would be a ban on betting on player performance for athletes representing Iowa college teams.

Governor Reynolds has until the end of the current legislative session on May 3 to sign the bill into law this year.

Image: Jason Riedy