Published: 20.08.2019, 14:36
2 min read
Iowa on Thursday became the eleventh state in the US to formalize sports betting as a legal activity after Arkansas legalized betting last month. The state now has eight licensed land-based casinos, which have started offering to wager on their respective premises. Meanwhile, four venues are now open for online wagering through mobile apps.
The next few months are expected to witness a beehive of activities with several other casinos anticipating receiving their wagering diplomas. The regulatory authority is mandated to issue betting licenses in the state is Iowa Racing and Gaming Commission.
Even though it occurred that Iowa governor was hesitant to assent to the bill, the state still beat compatriot regions to launch first. The legislators had passed the bill in April only for Gov. Kim Reynolds to put his signature in mid-May. The speed is considered one of the swiftest since other states, such as New York, have stalled in the process.
For enthusiasts of online casinos, they will have to sign up in person at the nearest land-based at least for now. However, the involving legislation will only be up until the end of next year, which will be the expiry time. Meanwhile, it was fun as several political leaders placed their first ceremonial bets on Thursday afternoon.
Legal Sports Betting in the US
Iowa becomes the first state in the Midwest region to commence online wagering, but that status will be short-lived. Indiana is also closing in with the state’s gambling regulators finalizing the rules ahead of the launch scheduled for September. Oregon, on its part, is putting relentless effort to ensure that the launching happens when the upcoming NFL season is commencing.
Apart from Nevada, Iowa will become the next gambling destination with flexible regulations. With $45K, gaming operators will be hours away from securing wagering licenses. Besides, each casino is free to launch up to two online brands. Just like Nevada, Iowa authorities have the mandate only to collect a mere 6.75% worth of betting revenue tax. Pennsylvania is the state casinos are avoiding since it claims a staggering 36% betting revenue. Will Oregon leapfrog another letter ‘I’ state-Indiana to join Iowa and the other ten states free for gambling?
