House Ways and Means Recommends Sports Gambling and Wagering Bill for Passage

March 21, 2019

HF 648 passed the House Ways and Means Subcommittee on Wednesday with an amendment. This bill authorizes sports gambling and wagering, including sports betting and fantasy sports contests. Various sections of code section 99 are amended to allow the racing and gaming commission to authorize the operation of sports betting at race tracks, excursion gambling boats or gambling structures. The bill establishes a $15,000 licensing fee to offer sports betting. The bill also lists persons (for example, coaches) excluded from sports betting at the licensed establishments. The bill allows for and the regulation of advanced deposit sports wagering where a person may establish an account from which sports betting funds are drawn. This form of wagering may be done by telephone or electronic means. The amendment that was approved prohibited betting on sporting events featuring Iowa colleges. For more information, please contact Drew Wynes.