Iowa Might Be Next US State to Launch Online Casino Market

Iowa Might Be Next US State to Launch Online Casino Market

Online Casino Iowa

It’s possible that Iowa may soon become the next state in the United States to pass legislation to legalize and regulate iGaming, more often known as online casino gambling.

A bill was introduced into the Iowa General Assembly on Monday with the intention of broadening the scope of gaming in the state as well as making it possible to gamble at internet casinos within Iowa.

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At the present time, the land-based casino business in the state is responsible for the maintenance of 17,420 jobs and is predicted to have an economic impact of $2.8 billion across its 23 commercial and tribal sites.

Although Iowa already has experience with mobile sports betting, which is available throughout the state, the state may now be looking to approve further legislation according to House Study Bill 227, which was introduced by Representative Bobby Kauffman.

It appears that the bill’s primary focus will be on commercial activities, and it indicates that each may have up to two online casinos “skins.” In other words, if the bill is passed into law, there might be up to 38 different internet casinos.

The Iowa Racing and Gaming Commission will be the one to decide whether or not a third skin option should be available, despite the fact that the bill would want to see the online market expand even further.

Also, the establishment of the regulatory framework for iGaming businesses would be the responsibility of the IRGC.

High Probability for Iowa to Launch Online Casino Market

In light of these figures, Iowa has a good chance of becoming the state with the most online casino establishments, which, considering the state’s relatively small population of 3.37 million people, may easily lead to quick oversaturation of the market. Kauffman, on the other hand, is self-assured that the legislation he has presented will, if anything, hit the target dead center.

He had previously worked on a proposal that was quite similar to this one, known as HSB 604, which was dragged through the session of the previous year but never really got to a vote on the floor.

Yet, Kauffman appears to have a reasonable amount of confidence that the measure was successful in achieving its goals and contributed to increased awareness of the issue. His current proposal is very much like the measure that will be introduced in 2022.

The proposed initial license fee is $45,000, which is the same amount as the fee that is already collected from sports betting operators that offer their products online. In addition, there will be a renewal fee of $10,000.

The tax rate is set at 6.75 percent, which is the same amount that is applied to the money generated from sports betting. When it comes to the taxation of online gambling businesses, however, the majority of states have opted to impose a higher rate on the industry.

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.