Governor Signs Iowa Sports Betting Into Law

[vixen777]

SOURCE

Here are the particulars of the new law:

• 6.75% tax rate on Sports Betting revenue
• $45,000 license fee, $10,000 renewal fee
• Mobile betting via intrastate means only (this appears targeted at Wire Act compliance)
• Up to two skins per licensee
• In-person registration for mobile apps until Jan. 1, 2021
• Ban on prop bets involving in-state college teams, but betting on college games generally is allowed.
• Regulated by the Iowa Racing and Gaming Commission

As far as Sports Betting bills go, this one is pretty well conceived. American Gaming Associationexecutive Sara Slane published a statement in response to the news:

“The state of Iowa has set its legal Sports Betting market up for success with a reasonable tax rate, mobile wagering, strong consumer protections and provisions that put responsible gaming at the forefront. Through the leadership of champions like Iowa Gaming Association President and CEO Wes Ehrecke, Iowans will now have a safe alternative to the illegal market that has thrived in the Hawkeye State and across the country…”​

As Slane subsequently noted, no US jurisdiction with legalized Sports Betting has an integrity fee in its law — including Iowa.

 

[CareyG]

Nice!

 

[dani3839]

 

[sorcer3ss (RETIRED)]

Thanks vixen