Iowa legislators have introduced an updated bill to regulate online casino gambling. Online sports betting is legal right now. However, online casinos have yet to enter the Hawkeye State.
Iowa will now be the seventh state to allow iGaming within the United States. Online sports betting is growing in popularity, but iGaming is still restricted to a few states. Online casinos are currently legal in Connecticut, Delaware and Michigan, New Jersey. Pennsylvania, West Virginia, and New Jersey.
Iowa’s land-based sector currently supports 17420 jobs and has a commercial impact of $2.8 million. These numbers are expected to rise with the advent of online casino gaming.
Operators will be able to launch 1-3 brands in the state
The House Study Bill 2277 measure would allow gambling companies in Iowa to launch products through agreements with local entities. Iowa licenses are required for companies that want to sell their products. To continue offering advance deposit gambling games in Iowa, licensed gambling companies must also pay a $10,000 renewal fee annually.
The bill, if passed, will allow operators to launch one of their brands in Iowa. The bill states that the Iowa Gaming Commission can authorize companies to launch a third company brand in certain circumstances.
Iowa will Prioritize Player Safety
The bill defines “advanced deposits gambling games” as a form of wagering on casino games in which a player can deposit money and use that balance to play games of chance. The House Study Bill 227 clarifies that these games are electronic games such as online games using smartphones, tablets, and computers.
The bill would allow any eligible person, who is 21 years old or older and located in this state, to place an advanced deposit gambling games bet from any location within the state via telephone, a computer, or other electronic means.
House Study Bill 227 excerpt
The bill also mentions that there will be a way for a person to stop gambling. Iowa’s self exclusion program would see participants stop gambling for five consecutive years. Players would be expelled for five years if they submit a self-exclusion request after the expiry date of the initial period.
If passed, the bill would also require licensed operators to give their customers the information necessary to make informed gambling decisions. Companies should also have tools that assist players in reducing their spending and playing time.