Iowa sports betting remains uncertain
The Governor continues to assess whether Iowa legalises sports betting as a bill remains unsigned on her desk.
US.- A gambling expansion bill sits on Iowa’s governor’s desk and its future is uncertain. As Governor Kim Reynolds remains undecided, different positions on the bill pressure for a decision to be made.
“The way that I looked at sports betting was that it’s being done already, everywhere,” said Sen. Liz Mathis, D-Hiawatha. “If you’re going to be making it legal, then why wouldn’t the state try to benefit from that and put it to good?”
However, some remain against the segment and forecast a negative impact on the population.
”This is the coming thing. We’ve known for a number of years that this was the coming thing,” said gambling opponent Tom Coates. “The majority of Iowans still are resistant to this online gambling bill, and perhaps that’s the reason why (the governor) is reluctant just to hurry and sign it.”
Governor’s stance
Governor Reynolds said last month that she has received a lot of opinions in regards to possible sports betting legalisation, but she is still undecided. Despite the fact that she claims she has received a lot of input, she still hasn’t said whether she will sign the bill into law or not.
“I’m hearing on both sides, I’ve had a lot of people reach out,” Reynolds said. The bill would allow casinos to accept bets on professional and college sports, through smartphones or at brick-and-mortar facilities.
The bill
The bill authorises the Iowa Racing and Gaming Commission, which already regulates state casinos, to set rules for betting on professional, collegiate and international sporting events. However, it excludes some events like minor leagues and in-state college team players.
It also legalises daily fantasy sports (DFS) and fantasy sports contests, but delays betting based on college sporting events at least until May 2020.
Furthermore, sports betting will also be available for people over 21 and sets a 6.75% tax on net receipts. Lawmakers believe that taxes and licensing fees could bring up to US$2.3 million to US$4 million annually in revenue.
“This just brings people out of the shadows and gives them a regulated environment,” said Sen. Roby Smith, R-Davenport. “It gives people the freedom to choose to do sports wagering, legally.”
