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March has been good for the Midwestern state of Iowa, especially in the arena of sports betting legalization. Early in the month, the H 648 Bill \u2013 an Act providing for legalized sports betting & fantasy sports contests in the State \u2013 advanced through the House State Government Committee, proving that there may yet be hope for sports betting legalization in the state.<\/p>\n
The H 648 is the newest bill to make a mark on the Iowa Senate, following the Senate Study Bill 1168, which passed by an 8-6 vote late in February. Joining the H 648, was the House Study Bill 198, which also passed in the House State Government Committee by a vote of 13-10.<\/p>\n
Early this week, the Ways and Means Committee of the Iowa House of Representatives, led by\u00a0 Committee Chair Lee Hein, decided in a 4-1 vote, to make amendments to the existing H 648, before passing the bill in the House. The suggested amendments have received much support from both the parties in the State, making sports betting legalization a reality before the end of this year\u2019s legislative session; maybe as early as April 2019.<\/p>\n
According to the Bill author Republican Bobby Kaufmann, the suggested amendments include banning in-game betting on collegiate level games & players and making in-person requirements mandatory for all mobile betting website registrations and account creations for the initial 18 months of account opening.<\/p>\n
The Committee has also suggested that a contribution equalling the 11% of casino revenues that Prairie Meadows uses to offer subsidies in its live horse racing service, to be extended to the casino\u2019s sports betting service as well. This 11% may soon be dropped to 6%, given how Prairie Meadows’ total horse racing contributions are set to cross $200 million.<\/p>\n
The Committee has also asked the Senate to set the annual fees for sports betting and daily fantasy sports at $15,000 and $5,000 respectively. In addition to this, the Committee has also asked the Senate to earmark 0.25% of the 6.75% State gambling taxes on GGR to curb problem gambling.<\/p>\n
When asked about his feelings regarding the suggested amendments, Kaufmann said \u201cI think the momentum is on our side. I know it’s a priority among the leadership of both chambers to get this done. I’m shepherding it through and making the changes I have to make. I’m very confident in getting this done and think we have the wind at our backs\u2026At the committee level, we might not be on the same page, but hopefully, we’ll get them practically identical on the floor.<\/em>\u201d<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" March has been good for the Midwestern state of Iowa, especially in the arena of sports betting legalization. Early in the month, the H 648 Bill \u2013 an Act providing for legalized sports betting & fantasy sports contests in the State \u2013 advanced through the House State Government Committee, proving that there may yet be […]<\/p>\n","protected":false},"author":3,"featured_media":27309,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8],"tags":[],"class_list":["post-37837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest"],"yoast_head":"\n