Sports Betting In Iowa Gets First Subcommittee Vote

Sports Betting In Iowa Gets First Subcommittee Vote

Iowa is set to legalize sports betting in 2018 after a legislation bill got its first subcommittee vote on Wednesday, February 7th. According to a local news magazine, the bill will be audited by all cabinet members before it enters into further discussion next week. It is a widely held view that the House Commerce Committee will support Act 592, which allows sports betting within the state’s borders.

The current version of the bill is not in its final stages and is open for discussion, according to Iowa lawmakers. Esteemed state officials are working on the legislation due to the announcement of U.S. Supreme Court to review New Jersey’s lawsuit against a federal ban on sports wagering. After the first hearing on the case in December 2017, supporters showed rays of optimism, although the final rule is expected this summer. Lifting the federal ban would allow each state to determine individual sports betting rules at both land-based and online casinos.

Honorable House representative, Jake Highfill, said that further bill regulations could provide a successful kickoff for the state’s sports betting market, as 18 accredited casinos might start expanding their offerings by integrating various sports betting options. As a result, the Iowa Racing and Gaming Commission will be assigned to regulate the sports betting sector, which includes wagering on professional and college sports competitions.

In addition, lawmakers are planning to adjoin a mobile betting platform to Bill 592, as it would prevent further expansion of the black market. As stated in a report by the American Gaming Association, US citizens spend more than $150 billion on illegal betting per year.

Two major sport associations, NBA and MLB, criticized Iowa’s bill on sports betting, due to the lack of special fees which protect the integrity of sport. NBA officials even proposed an amendment that would require local sports books to pay each league an integrity fee in the amount of 1% of the total bets.