The state of Iowa has become the newest member of States to make sports betting a legal action in the United States. The recent launch makes it the 11th state in the country to officially adopt the legality of gambling activities.
The launch officially kicked off at noon on Thursday for the first time, having about eight land-based casinos licensed to offer to bet in their establishments. Four of these licensed operators also have facilities in place to enable betting on the go through the use of mobile phone applications. It is also expected that other casinos should be able to receive their licensing certificates from the Iowa Racing and Gaming Commission soon.
The state of Iowa undoubtedly has had to fast-track things to ensure that the launch happened on Thursday. This is said due to the fact that state legislators only came to a conclusion to pass the betting legislation in late April. The state Governor, Kim Reynolds, also didn’t sign it into law until the middle of May.
Perhaps the pace might be appreciated if we view it side by side with how long some other states have taken to launch betting within their regions. Iowa’s case is one that exemplifies efficiency.
On the other hand, this is not the case when mentioning the developments surrounding the sign-up process for online betting. Currently, this can only be done in-person at a land-based casino, according to guidelines laid down by the state. This otherwise rigorous process is due to expire at the end of the coming year, however.
As a form of celebrating the landmark event, several of the state’s political big-wigs were took turns on the launch to place ceremonial first bets. In some manner, it was just like making a show of coasting down to a local gaming venue. After getting there, you then proceed to show anyone interested, your driver’s license.
The state of Iowa is one of the more relaxed regulatory environments for betting operators. Among the perks, the state offers to the operators includes a 6.75% tax on betting revenue, not unlike states like Nevada. It is better than Pennsylvania though, as the state charges 36% on wagering earning.
In Iowa, gambling licenses go for as low as $45 thousand with each casino allowed to launch two online franchises or ‘skins’ as seems to be the generally accepted lingo.
The state of Iowa is the country’s first in Midwest America to make officially make betting activities legal following its launch on Thursday. With other states soon to follow, it most definitely won’t be the last to join the number.
At the moment, gaming regulators in the state of Indiana are busy putting things in place and revising their betting guidelines in anticipation of their launch. The event is set to come up in September. In tow, the state of Oregon is also pulling cords to make the start of the new NFL season.