Casinos throughout Iowa are preparing for sports betting, following Governor Kim Reynolds’ recent signing of the legalizing measure. The legislation allows in-person and mobile betting on college and professional sports events, as well as fantasy sports contests; wagers will not be allowed on high school, minor league and amateur sporting events. Iowa Gaming Association President and Chief Executive Officer Wes Ehrecke said, “We were all unified on getting this passed, and the casinos’ interest was unifying in offering sports wagering once it was passed. I’m pretty confident in saying all our casinos have an interest in wanting to offer this to their patrons.”
An exact start date hasn’t been determined. The Iowa Racing and Gaming Commission first must draft rules for the licensing process, posting odds and payouts, how money will flow through players’ accounts and how information about problem gambling will be provided. Once the rules are drafted, public hearings will be held, then official approval is expected to be completed by mid-August. “If everything goes smoothly, then I think it is reasonable to expect that bets will be taken before football season,” IRGC Administrator Brian Ohorilko said.
Under the new law, players age 21 and older must establish an account in-person at any of Iowa’s 19 casinos that will offer a sportsbook, then they can place online or mobile bets. Casinos must pay a $45,000 licensing fee and then a $10,000 annual renewal fee. Operators will pay a 6.75 percent tax on sports betting revenue.
In-game prop bets involving college players on Iowa teams or teams competing against Iowa schools are prohibited. But professional prop bets and some select college prop bets might be available for non-Iowa athletes.
Ohorilko said, “Just from a practical standpoint, the books still need to offer those wagers. So it’s much more common for prop bets for individual performances to be offered for NFL teams, for NBA teams.”
Several casinos already are preparing for sportsbooks. Prairie Meadows in Altoona transformed its 4th-floor horseracing simulcast area into a sportsbook and bar. Prairie Meadows Senior Vice President and Chief Strategic Officer Brad Rhines said through its partnership with William Hill, the nation’s largest sportsbook operator, the casino’s mobile sports wagering app will be ready to go the first day sports betting is allowed.
Rhines said Prairie Meadows will promote advanced sign-up periods for gamblers who will want to pre-load the app on their devices and be ready for that first day. “We will be in a good position to be going right out of the gate. We’re aiming to make things as streamlined as possible,” he said. Rhines added the casino hopes to offer an advanced-deposit wagering system so users wouldn’t have to visit the casino each time they want to add more funds to their accounts.
In Burlington, Catfish Bend Casino recently formed a partnership with Australian sports betting company PointsBet, and is constructing a 5,000 square foot sportsbook as part of a renovation project.
At Riverside Casino, General Manager Dan Franz said, “There’s a lot of stuff to take care of before we take our first bet.” He said last year the casino invested $10 million in renovations, including turning an area off the casino floor into sportsbook. “It won’t be like a Vegas mega-sports book. It’ll be an area that’s good for our patrons,” Franz said. Plans include adding more televisions, wagering windows, kiosks and betting line boards. Franz added Riverside has been negotiating with a potential sports betting partner. “We’ll have something to announce about that soon,” he said.
And in Clinton, Wild Rose Casino and Resorts General Manager Steve Nauman predicted, “I believe that you will be able to place your first bets two weeks before football season starts. Approximately. I’m really hoping we get that because I don’t want it to be the first day. I want a soft opening for that. I wish it was a month before but since the Governor let it sit on her desk while she was deciding for two weeks that puts us back two weeks.”
Nauman said Wild Rose Casino could start signing up customers around July 20. Players will have to set up an account in person and then can place mobile or online bets. Nauman added the casino is considering two potential operating partners.
