Iowa edges closer to legal sports betting
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