Arbitrage/Parlay/Challenge Daily - 2/13/19 (Wednesday)

Iowa governor signs sports betting and fantasy sports bill into law in Iowa

Placing a bet on your favorite sports team is officially legal after Gov. Kim Reynolds signed legislation Monday allowing gambling on college and professional sports in Iowa.

Reynolds had not previously said whether she would sign the law, which lawmakers passed last month with bipartisan support.

The legislation allows Iowans 21 years and older to wager on sporting events at any of Iowa's 19 casinos and online if they visit a casino once in person to prove they are at least 21. It also legalizes bets on fantasy sports through websites and apps like DraftKings and FanDuel.

Republican lawmakers, who led the passage of the legislation this year, have spoken of it in terms of bringing an underground market out of the shadows so it can be regulated. The legislation follows a U.S. Supreme Court ruling last year that struck down a federal ban on sports wagering.

While the legislation takes effect immediately, some of the rules still need to be ironed out.

The Iowa Racing and Gaming Commission, which will regulate sports betting in Iowa, previously said it would start to develop rules for casinos to implement once Reynolds signed the legislation. Those rules would likely be implemented in July or August, before college sports and NFL games start in the fall.

The commission would likely use its emergency rule-making procedures, which means the rules would be adopted more quickly than usual. But it would also mean that the Administrative Rules Review Committee could alter them later.

View Reddit by AlwaysahawkThis post first appeared here

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  1. Can’t believe America is still against gambling, in Europe it’s so common especially where I’m from there’s casinos and sports betting shops on every street. Tons of ads aswell on TV

  2. Thanks in advance to all the folks from Omaha for the extra revenue. I wonder if the casinos in Council Bluffs will all have the same lines or tweak them to get people to the slot machines.

  3. Ahhhhhhhhhh can’t wait. Two casinos here in Dubuque. Goodbye to my Bovada account after all these years….(who am I kidding, I still need my Degen bets that they won’t offer)

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