Gov. Kim Reynolds signed SF 617 into law on May 13, paving the way for Iowa to launch legal sports betting by the end of the year. The signature secured Iowa as the 11th state to legalize sports gambling in the US.
What still needs to happen?
The hard part is out of the way. The plan is to open sports betting at retail locations such as casinos by the start of the 2019 football season, with mobile betting to follow as soon as licenses are acquired and online regulations are in place. The bill calls for a $45,000 initial licensing fee and $10,000 annual renewal fee for operators.
Iowa’s new law authorizes sports betting for the state’s 19 casinos, allowing up to 38 brands to offer online sports betting under the two-skin-per-license legislation. Among those expected to lead the market are FanDuel, DraftKings, PointsBet and Caesars.
Projected Iowa sports betting launch date
Now that Reynolds has signed the bill, it’s likely a safe bet that the state would like to have sports betting up and running by September at the latest, although it would be expressly legal as of July 4.