Iowa online sports betting legislation is almost upon us. Residents of the Hawkeye State will soon be able to take part in legal sports betting, once the final rules and regulations have been written.
So, what can bettors in Iowa expect? Where can you find the best online sportsbooks? We’re going to examine the latest legal sports betting news surrounding online sports betting and which online bookmakers are likely to launch sportsbooks in the State.
Online Sports Betting In Iowa
Governor Kim Reynolds has now signed a sports betting bill into law. Great news for betting fans and online bookmakers such as elite sportsbook, but there’s still some work to be done. Online sports betting is permitted, but it’s estimated residents will have to wait until August before they can place their sports bets.
What do we know so far about Iowa’s sports betting legislation? A $45,000 license fee applies to all operators, with a $10,000 renewal fee also attached. A 6.76% tax rate will also apply to all sports betting revenue, both with online bookmakers and land-based operators.
Mobile betting has also been added to the bill, and we can expect to see this implemented in August too. However, those of you who wish to download mobile apps will need to register in person at the sportsbook of your choice.
Unlike many states who have already passed online gambling legislation, sports betting legislation has made betting on college sports is an option with Iowa online sports betting, though betting on any college side based in Iowa will still be prohibited.
Iowa is the third State so far this year to regulate legal sports betting. We think that most of the best online sportsbooks in the US will be looking to create partnerships with land-based operators in order to join the online gambling scene in Iowa.
Best Online Sportsbooks In Iowa
The road to legalizing Iowa online sports betting was a relatively smooth one. There were never any serious doubts over whether sports betting legislation would pass, one of the main reasons why a number of casinos already had partnerships in place with legal sports betting operators even before the official sign off.
We know that Prairie Meadows Racetrack and Casino have signed a deal with William Hill, the first partnership of its kind in the State. Others have followed suit, with Catfish Bend linking up with PointsBet and Diamond Jo Casino coming together with FanDuel.
It’s likely that DraftKings will also get in on the act with offering online sports betting in IA. DraftKings, alongside the aforementioned FanDuel, have proven extremely popular with bettors in other parts of the United States. DK also has a deal in place with Caesars Casino, so it looks extremely likely this partnership will spread into the Hawkeye State too.
Are there likely to be any other Iowa sports betting sites? We expect many of the best online sportsbooks in the US will be looking to move into the market in one way or another. In addition to the sportsbooks above, it’s possible that the following list could also offer sports betting in Iowa in the future.
We consider the above to be amongst the best sportsbooks in the United States. Expect to see these make a move into the online gambling scene in Iowa too, offering a range of betting odds and markets encompassing a number of sports.
Iowa Sports Betting Regulations
At the moment there aren’t any online sports betting sites available just yet, but as we’ve seen, a number of operators are set to launch online sportsbooks very soon.
Legislation on sports wagering has recently been approved. While other states have had to fight to push betting bills through, it seems it was a relatively smooth transition into the online betting world for the Hawkeye State.
The Iowa Racing and Gaming Commission will oversee sports betting in the State. Let’s take a closer look at some of the key laws for sportsbooks in IA.
A 6.7% tax rate will be imposed on all revenue. This percentage is one of the lowest of any state that has already legalized online gambling.
All operators will have to pay a fee of $45,000 to launch. In addition to this amount, all operators are subject to a $10,000 renewal fee too.
Betting on college games is permitted, but only on teams and games outside of the State of Iowa. In-play proposition bets on college games are also prohibited.
Other Betting Laws
The Iowa Racing and Gaming Commission will have control over online gambling in the State.
There are 19 casinos that can offer sports betting, with each allowed two skins.
All bettors in Iowa need to be at least 21 years of age. Players will need to prove their identity, regardless of whether they bet at a retail sportsbook or online.
In-person registration is required, even if you’re planning to bet online. You will need to visit the sportsbook or casino of your choice and sign up in person.
What Exactly Does the Law Say About Sports Betting in Iowa?
In December 2017, the IGA, Iowa Gaming Association revealed plans to start crafting sports gaming legislation on the event that the federal ban on sports betting was repealed. This plan came about during the Supreme Court case in New Jersey that was seeking to overturn the PASPA, Professional and Amateur Sports Protection Act.
The Supreme Court managed to strike down PASPA. It opened the way for legislators to take action. Even after the attempt to legalize wagering on sports in 2018 failed, lawmakers again moved this year to pass legislation that brought online and in-person betting to Iowa.
The first attempt was the House Study Bill 592. The bill was seeking to legalize sports wagering in January 2018. While the law never made it through the legislative process, it did make the conditions right for more legislation to come the year after.
This year (2019), legislators initiated SF 617 to authorize retail sportsbooks and to let local casinos apply for licenses for mobile betting. The bill was meant to allow each casino to run a maximum of 2 different betting sites, accept bets on pro and college sports and authorize day-to-day fantasy sports.
The Senate and Iowa House both approved the bill to send it to Governor Kim Reynolds’s desk. Once signed, sports betting became legal. After this, the first sportsbooks and mobile gaming apps were expected to go live.
Under the law, the 19 commercial casinos of Iowa will be allowed to apply for sports betting licenses. The casinos that already have the licenses will be able to open retail sportsbooks on-premises. They’ll also be able to operate up to 2 mobile betting sites that are individually branded.
Which Sports Can I Bet On In Iowa?
From what we’ve gathered so far, we know that the only exemption from Iowa online sports betting in Iowa are college games and tournaments that feature aside from the State or are taking place within State boundaries.
There was talk of a complete ban on betting on any college sport, but the current regulations do allow for some form of college betting. In prop, markets will be unavailable.
We expect to see all major leagues and competitions available to bet online. This means that NBA, NFL, NHL and MLB markets should be available, along with sports and events taking place across the globe. The best betting sites offer a good range of odds and markets spread across a number of events, both when you bet online and at a land-based operator.
Soccer, golf, tennis, and cricket have proved to be popular elsewhere in the US, so we can guess that online sports betting operators will offer odds on these competitions here too.
You should also be able to bet on Iowa sports teams, with the exception of college competitions.
Fantasy Sports Betting
As well as regulating sports betting, fantasy sports is also an option now when you bet online. We can expect to see NFL fantasy football available, for example. Similar to CBS fantasy football, as well as other sports, fantasy sports allows you to build your own team based on real players in order to win prizes.
DraftKings and FanDuel are known for their fantasy sports, so we expect these two operators to be amongst the first to do so in IA.
Iowa Mobile Betting
Mobile betting is included in the Iowa sports betting bill. The difference between Iowa mobile betting and most other States is that users will need to register in person before they will be able to begin.
There are 19 casinos that are eligible to apply for licenses. If you’re looking to join up with more than one betting site, separate trips to land-based casinos are required.
This law is in place until January 2021.
It’s likely that Iowa residents will need to wait until August 2019 to have the opportunity to bet online and download betting apps. How can you download an app? As we’ve said, you will need to register for an online account in person. You can then gain access to your sportsbooks’ specific betting app.
We’re unsure at this stage which operators will launch a mobile app. We expect a number of them to do so, though. Most of the best online betting sites offer some form of mobile betting.
How To Choose The Best Online Betting Sites In Iowa
There should be plenty of opportunities for online sports betting for residents in IA in the near future. As we’ve discussed already, we expect many of the best sites to launch online sportsbooks in the State. With so many opportunities, it can be difficult to decide which is the right site for you.
There are many aspects you should consider when you’re choosing a legal sports betting site. We’re going to take a look at some of the criteria you should analyze before you sign up.
Welcome Bonus And Other Promotions
Most operators offer a number of bonus opportunities, both for new customers and existing members. We recommend finding an operator who offers an attractive welcome bonus as well as existing customer promotions based on a number of sports and events.
Now, the important aspect to any bonus isn’t necessarily how much in bonus funds you can receive, rather it’s how easy the bonus is to claim. For instance, a promotion could give you $1,000 as a deposit match bonus. Sounds great, but what do you need to do to claim it?
Do you have to deposit or stake a high amount of funds? Are there any hard to achieve wagering requirements attached? Betting odds limits? Consider these questions before you attempt to claim any offer, no matter how attractive it may seem at first glance. The best online betting sites should make offers easy to qualify for.
Customer Service Options
The best operators in Iowa will offer a good customer service experience. Bookmakers understand how vital it is to build trust between the operator and the customer, and so endeavor to offer support options that can be easily accessed.
It’s a good idea to find an operator who offers a Live Chat service. Live Chat is usually the quickest way to get an issue resolved. Many operators will also offer email and telephone services, along with customer service via social media.
The best online sports betting sites in the State will make it easy for you to transfer funds in and out of your gambling account. They will do this by allowing you to make payments using a variety of methods.
Now, at this stage, we’re unsure of what particular deposit and withdrawal methods will be available in the State of Iowa. However, looking at what’s available in other States, we can make a good guess. Expect to see most of the following payment options to be open to you.
- Debit Card
- Credit Card
- Wire Transfer
- Bank Transfer
- Online Wallet
- Operator Customer Card
With any method, check that your provider doesn’t charge a fee for any transfer of funds. Many banks and card providers will apply a fee when depositing into or withdrawing from a gambling account.
With any online site, design and ease of use is so important. Check for quick loading times and ease of access. Is it easy to navigate through the site? Easy to find the betting odds and markets you want to bet on?
In other states, sportsbooks allow you access to the site before you sign up. This is a good way of finding betting sites that are easy to navigate through.
Betting Markets Available
The best Iowa online sports betting sites will offer a good range of betting odds and markets on a variety of sports. We expect that most will offer betting odds on the most popular sports, such as basketball, baseball, and football, but if you want to place bets on less common events, find a bookmaker that matches your betting needs.
The future looks good for online sports betting in Iowa. Online bookmakers should be available later this year.
Online sports betting will most likely be extremely popular, with plenty of bookmakers and land-based sportsbooks offering their services online.
Of course, these laws are yet to come into forcefully. They are also subject to change at any time. For now, though, residents can look forward to sports betting in Iowa very soon.