While the 2019 South Dakota Legislature ignored sports betting, and while we wait for Deadwood organizers to decide whether or not they want to circulate their initiative petition to allow sports betting in Deadwood’s casinos, Iowa’s conservative Republican Governor Kim Reynolds up and signed a bill legalizing sports betting across Iowa:
The legislation allows Iowans 21 years and older to wager on sporting events at any of Iowa’s 19 casinos and online if they visit a casino once in person to prove they are at least 21. It also legalizes bets on fantasy sports through websites and apps like DraftKings and FanDuel.
There are certain restrictions. While Iowans can bet on the result of college games, the law does not allow in-game proposition bets on college sports, like how many points a certain player will score [Stephen Gruber-Miller and Robin Opsahl, “Kim Reynolds Signs Sports Betting and Fantasy Sports Bill into Law in Iowa,” Des Moines Register, 2019.05.13].
Iowa’s new sports gambling law sets license fees at $45,000 to enter the business and $10,000 to renew. Licensees will pay the state 6.75% in tax on their gambling revenues. Iowa stands to make $2.3 million to $4 million off sports betting.
With Governor Reynolds’s signature, thirteen states and the District of Columbia have legalized sports betting.
In sheer coincidence, Iowa has dropped from #1 to #14 in the U.S. News & World Report Best States rankings.
In sheer coincidence, Iowa has dropped from #1 to #14 in the U.S. News & World Report Best States rankings.
The reason is wingnuts have total control over state gubmint and are backing Drumpf in his effort to destroy America and women’s rights.
This is the season with the least amount of sports betting. Most casual wagerers don’t even understand baseball gambling. (If the Twins are favored and you agree, you’ll bet around $120 to win $100. If Twins aren’t favored and you disagree, you’ll bet around $100 to win $120.) But, football’s coming.
Vegas Odds to win Super Bowl 2020:
Bears 20 to 1
Packers 22 to 1
Vikings 22 to 1
Broncos 60 to 1 (Joe Flacco? meh)
Minimum sports book bet is $100. South Dakota football fans are already betting online; paying and getting paid with PayPal and the state is getting na-da. If SD made online betting legal the sports book would deduct the tax at the rate your state set and send a check to your treasury. You know. Like Amazon and Wayfair do.
But, new things are hard. Especially when it involves the future. :)