The bill includes regulating betting on all sporting events including professional games, college level tournaments and international sporting events. However, the new law does not allow betting on some minor leagues and in-state college team players.
Moreover, with the new law, fantasy sports is also legalized. However, in regards to college games bets, the statistics and regulations are delayed until May 2020.
The minimum age for sports betting is 21 and older.
Earlier in April, the Senate voted 31-18 in favor of the bill legalizing sports betting. On Monday it was signed by the Republican Governor Kim Reynolds. Though she signed the bill, she refrained from commenting about her stand on gambling expansion in the state.
According to the new sports betting law, Iowa Racing and Gaming Commission is authorized to regulate sports gambling in the state. The commission already regulates and monitors 19 state-licensed casinos, and it says that the gambling operators are already lined up to offer sports betting at the venues.
While the Iowa Racing and Gaming Commission is already working towards creating a set of rules and regulations related to sports betting, the players may get to wager on sports event as early as July 2019.