Iowa wants sportsbetting

In America, the midwestern state of Iowa could become the next to allow sportsbetting at its racetracks and casinos after two individual measures were put before local legislators late last week.

Owing to a brief experiment with parlay sportsbetting in 1976, only Delaware, Montana, Nevada and Oregon are allowed to offer sportsbetting in any form in the US but this position is currently being challenged at a Federal level by New Jersey as discriminatory towards the remaining 46 states.

The first measure, SF2129, was introduced by Iowa State Senate President Jack Kibbie and would, if passed, give the state’s Racing And Gaming Commission the authority to license sportsbetting on professional and amateur events.

“I think we ought to have sportsbetting in Iowa,” said Kibbie.

“They’re probably betting on them anyway but we’re not getting any tax. I think it would raise a lot of money.”

A second proposal, SF2130, was put forward at the same time by fellow Democrat Steve Sodders and would, if ratified, legalise wagering only on professional sports. The State Senator revealed that he hoped the proposals would begin a conversation about legalised sportsbetting in the state and he planned to contact members of Iowa’s congressional delegation to enlist help in lifting the Federal prohibition.

“We think that we ought to be able to regulate that here and have sportsbetting if Iowa desires to do that in our casinos,” said Sodders.

“Why not let them do that betting here than in other states that are getting the revenue for that?”

Sodders told the Sioux City Journal newspaper that the fact that huge sums of money were being wagered on this weekend’s Super Bowl is evidence that there is consumer interest in betting on sporting events. He said that channeling this activity through state-regulated outlets would help prevent problems associated with clandestine betting options.

Kibbie speculated that his measure could see as much as $100 million in new revenues raised in Iowa if sportsbetting were taxed at the same rate as other betting activities.

“This bill hinges on Federal legislation to open it up,” said Kibbie.

“There are people that would like to bet on sports who don’t bet on other things.”

Source: http://www.igamingbusiness.com/content/iowa-wants-sportsbetting