The Iowa Racing and Gaming Commission (IRGC) will meet Tuesday, July 30 to approve rules and regulations to govern sports betting, according to The Gazette newspaper. Additionally, the commission is also expected to approve licenses for 18 of the state’s 19 casinos.
What does this mean for Iowa residents?
In the larger scheme of things, Tuesday’s meeting only establishes a small timeline. Should everything go smoothly at the commission hearing, Aug. 15 will be the official launch date for Iowa sports betting.
The news is fantastic for NFL fans as the season kicks off on Sept. 5.
Again, that is if everything goes according to plan.
Brian Ohorilko, the administrator of the IRGC, said despite a few minor corrections, the rules and regulations are ready for consideration.
Casino operators are expected to continue talks with third-party operators. They must also be licensed by the gaming commission to conduct sports betting.
The law, which was signed by Gov. Kim Reynolds earlier this year, does omit one growing aspect of sports betting. According to Senate Bill 617, in-play wagering is only banned on in-state college teams such as the Iowa Hawkeyes and Iowa State Cyclones.
Other details for upcoming Iowa sports betting
The bill does permit mobile and online wagering. However, customers must first sign up in-person at one of the states 19 properties.
The scheduled launch date of Aug. 15 will be for retail sportsbooks only.
- Mobile wagering is expected to follow in due time.
- Casinos pay a tax rate of 7.5%.
- In-person registration requirement until 2021.
Iowa was one of eight states this year to pass a sports betting bill.
Ten states, mostly on the East Coast, currently have some form of sports wagering. New Jersey was the first state to offer sports betting outside Nevada following the repeal of the Professional and Amateur Sports Protection Act (PASPA).
Except for neighboring Illinois, which passed a sports betting bill this year, Iowa has zero competition to the West or South of its borders.
For more details on the development of sports betting around the country, take a look at this interactive map courteously of Legal Sports Report.