Iowa approves sports gambling bill
Nine states now have legal sports gambling, and more will come
As of Monday, Iowa is officially the ninth state to have legalized sports gambling. Governor Kim Reynolds signed off on legislation that allows wagers to be placed on both college and professional sports games and the state will certainly be joined by others as lawmakers across the country wrangle the pros and cons of the industry.
Iowa’s sportsbooks will be able to accept wagers from anyone 21 years old or older. The gambling facilities will be integrated into the state’s 19 casinos and online wagers will be allowed once the bettors have registered in person at one of the casinos. In addition, fantasy sports is now legal, which is going to prove to be very lucrative for companies like FanDuel and DraftKings, both of which offer mobile betting apps.
The legislation carries a few caveats. The results of college games can be put to a bet, but in-game prop bets – bets on things like how many sacks a defensive end will have or how many passing TDs will be thrown – are off-limits in college games.
Regardless of whether people support gambling or not, it’s impossible to ignore the obvious. Gambling is a part of life that will never be removed. Not legalizing gambling leads to black market gambling, which offers no consumer protection. Black market gambling leads to a loss of revenue for cities and states. Legalizing sports gambling solves several issues in one shot and should be accepted in order to help protect consumers and funnel more money into government coffers, regardless of the amount.