Is Sports Betting Legal In Iowa?
Guide To Legal Betting In Iowa
In May of 2018, the U.S. Supreme Court ruled that the nation’s ban against sports betting outside of Nevada was unconstitutional. In the opinion of the Supreme Court, the question of allowing residents to legally wager on sports should be a state issue.
Almost immediately after the ruling, a number of states went to work on passing sports betting legislation for their residents. One of those states was Iowa. By May of 2019, Governor Kim Reynolds, a Republican, had signed Senate File 617 into law clearing the way for Iowa Sports Betting to launch.
History Of Iowa Legal Betting
Compared to some other states, the path to legal betting in Iowa was relatively smooth. it was apparent that the state Congress took a sports betting operator-friendly approach with the legislation. The terms and conditions within the Senate File could not be considered onerous by any means.
According to the law, the Iowa Racing and Gaming Commission will provide oversight and control of the Iowa sports betting industry. They will be in charge of reviewing operator applications and giving approvals. This provides a layer of protection for all sports bettors in Iowa.
Requirements For Legal Betting In Iowa
Anyone over the age of 21 can legally bet online in Iowa. That means during new account registration there is an age verification by the sportsbook. There was also an in-person registration mandate which was removed in January of 2021 much to the relief of all sports fans in the Hawkeye State.
On the operator side, it’s also quite straightforward. Each potential sportsbook is required to pay a $45K application fee and an annual licensing fee of $10K. Looking around at other states, both of these numbers are quite low. This is good news for Iowa residents as it means all the top providers are available.
The applicable tax rate on sports betting revenue, retail and online, was set at 7.5%. This again is quite small by industry standards. Tax receipts are slated to go to the state’s General Fund and a portion to the Sports Wagering Receipts Fund.
Picking An Online Sportsbook In Iowa
There is an excellent choice of apps for Iowa sports bettors to choose from. And the bottom line is there are no bad choices. The sports you can bet on are generally similar across sportsbooks. The variety of betting types may differ slightly, but again will be largely similar. In the end it may simply come down to personal choice.
There is also a case to be made for setting up more than one sports betting account. For starters, you will be able to take advantage of multiple welcome bonuses (see below). And for the value-seeking bettor you can shop around for different odds and lines on a given event.
Here are some of the top ranked Iowa Sportsbooks:
Iowa Sportsbook Welcome Bonuses
It’s a great time to be an online sports bettor in America. Since legal betting is relatively new, there is a scramble by the operators to grab as much market share as possible. The industry is projected to be worth in the tens of billions per annum within the next five years. So what does this mean for the average sports fan?
Simply put, the high level of competition between sportsbooks is great news for sports fans. The primary weapon in the fight for new customers is the Welcome Bonus Offer. As you will see, every Iowa sportsbook is giving out free money in one form or another for new depositing customers. Some will match the first deposit while others guarantee a risk-free first bet.
As mentioned above, it makes sense for users to try out multiple apps before deciding which their favorite is. They may even decide to keep some of their betting bankroll on multiple sites to shop for the best odds and take advantage of ongoing promotions.
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