Iowa closing in on sports gambling
A sportsbook planned for Catfish Bend Casino is already been reviewed by gaming regulators
Iowa has yet to officially sign off on sports gambling in the state and there’s a possibility that it might not happen. This hasn’t stopped at least one casino from moving forward with its plans to offer a sportsbook and it has already given its application to the Iowa Racing and Gaming Commission (RGC) for it to start considering its proposal should lawmakers pull the trigger soon.
Both the House and Senate have been considering sports gambling bills in the state and the Senate version recently survived a vote by a subcommittee of the Senate Ways and Means Committee. The bill authorizes both online and in-person sports gambling, with the activity being taxed at a rate of 6.7%.
The bill has to be passed by the full Ways and Means Committee for it to continue on to the Senate floor; however, time is running out. The regular legislative session ends on May 3 and, if a resolution isn’t found before then, it could be at least another six months before any progress is made.
The RGC will now review the proposals from Catfish Bend to ensure that they comply with all regulations established so far. In the event sports gambling is legalized, it will be ready to give the two proposals one last review before signing off on the casino operator’s activity and bringing legalized sports gambling to Iowa.
If the bill survives to the top of the legislative ladder, it shouldn’t find any resistance by the state’s governor, Kim Reynolds. She has said previously that sports gambling should be legalized in order for it to be regulated.