Legal Betting On Sports In Iowa Still Months Away
Iowa and every other state in the U.S. are now free to legalize gambling on sports, thanks to Monday's ruling in the Supreme Court. But don't expect the ability to wager on your favorite teams to be available in Iowa anytime soon.
Many state lawmakers are saddened by a missed opportunity to put legalized sports betting on the fast track, in anticipation of the Supreme Court decision. Lawmakers have adjourned and won't meet again until January. Iowa was among 18 states that introduced legislation to allow betting on sports if the court ruled the way it did on Monday. But the bill was never passed and the Legislature adjourned meaning it will remain illegal in Iowa, for now.
Even though it won't be legal in Iowa for awhile, it doesn't mean a plan isn't in place. The proposed law in Iowa would have put sports betting under the control of the state's casinos and would be regulated by the State Racing and Gaming Commission. Bettors would be allowed to wager on collegiate and professional sports. The law would also legalize mobile sports betting.
Among the hurdles left for lawmakers includes taxes. What rate will the state tax sports gambling revenues? What demands will pro-sports leagues make for a share of the money? All questions that as of yesterday, are still up in the air. But one thing is for sure. It won't be long until you can both root and BET for your favorite team in Iowa.