Next week, the state of Iowa will be introducing to the market legal sports betting and fantasy sports operations. This is because the Iowa Racing and Gaming Commission has given its approval on the new rule for the state. According to the latest sports betting news, Iowa will have sports betting available on August 15, 2019.
Furthermore, according to the legislation that Governor Kim Reynolds signed in May, the new rules will take effect at midnight. Thus, Iowans will then be able to place bets on their mobile devices thanks to modern sports betting software technology. Of course, people will also be able to place their bets in person at one of the state’s licensed sportsbook.
In addition, the new gambling law says sports bettors will be able to bet on both professional and college sports. However, there is a ban from betting on the performance of athletes in Iowan university teams. This just means that bettors will not be able to make prop bets on individual college athletes. Furthermore, there is a temporary ban on fantasy sports contest involving university players until May of next year.
First to Offer Sports Betting in Iowa
Several casinos have been getting ready to accept sports betting and have been eagerly waiting for this day. One of the first casinos in Iowa to take sports bets will be the Ameristar Casino in Council Bluffs. In fact, they have already made confirmation that they will be ready to take sports bets on August 15.
Partnering with Penn National Gaming, Ameristar will have the grand opening of their Amerisports Bar and Grill on that date. The new venue will have a six wagering counter along with several electronic sports betting kiosk throughout the casino. Customers will also be able to enjoy watching their favorite sports on 50 HDTVs throughout the venue.
In addition, the grand opening will have NFL veteran player Tim Dwight as one of the guests of honor. He will be the first person to place a legal sports wager in Iowa as part of the opening ceremony.
The cost of a license is $45,000 and is very popular amongst those wanting to become a bookie in Iowa. In addition, all sports betting operators will also have to pay annual 6.75% tax the net sports betting revenues. According to the law, gambling operators can have up to two partners for additional sports betting venues. However, this only if the third art does not already have a sports betting license in Iowa.