DES MOINES, Iowa
A bill that may legalize betting on sporting occasions and fantasy sports in Iowa is scheduled for action in the Iowa Home.
It handed the Senate last week and is on the Monday Home debate schedule however lawmakers have been in meetings a lot of the day and flooring debate still hadn’t begun by early evening.
The bill authorizes the Iowa Racing and Gaming Commission to determine guidelines for betting on professional, collegiate and worldwide sporting events, including motor racing.
It excludes betting on some events, including minor leagues and in-state school group players.
The bill also legalizes fantasy sports contests and web fantasy sports activities betting but delays betting based mostly on school sporting event statistics till Might 2020.
Sports betting can be limited to these 21 and older, and the bill units a 6.75% tax on internet receipts. Taxes and licensing fees might usher in estimated annual income of $2.three million to $4 million yearly.
The Senate accredited the bill Wednesday 31-18 with no debate. Twelve Republicans and six Democrats voted towards it.
States started legalizing sports activities gambling last yr after the U.S. Supreme Courtroom ended Nevada’s monopoly.