Iowa on Monday became the third US state in 2019 to legalize sports betting.
It was pipped at the post by Montana and Indiana in sports betting’s busiest-ever week of new signings.
In this case, it was Governor Kim Renold who legalized it with her signature.
The trio brings to 10 the number of states that have legalized sports betting in the past year. Prior to May 14, 2018, when the Supreme Court intervened, sports betting had been outlawed nation-wide except in Nevada.
After the Court agreed with New Jersey that the betting ban was unconstitutional, NJ was quickly into its stride.
Within a month, sportsbooks like DraftKings, FanDuel, and SugarHouse were already taking bets. They were soon followed by BetStars and 888sports and much later by PointsBet.
Betting is a Billion dollar business in New Jersey
Today the wagering business has become a billion dollar industry in the Garden State.
In its first year, its 14 online sportsbooks, its casinos and its race tracks have raked in nearly $2.5 billion in bets.
Its success has not been lost on interested states initially more hesitant about legalizing sports wagering.
The latest trio to join betting pathfinder New Jersey may well have created the first wave of many more.
Back in Iowa, sports wagering is not expected to get up and running as quickly as it did in New Jersey.
The state is hoping to attract betting handle of several hundred million dollars annually – but not just yet
Betting legislation still needs to be finalized. So do agreements with legal land-based and online Sportsbooks.
Iowa, however, has high hopes of being ready to roll by the start of the NFL’s 2019-202 season.
Iowa punters can bet online or at betting shops
The final bill will enable punters to make bets online via laptops and smartphones or face-to-face at betting windows.
It was passed by both chambers with little opposition.
Reynolds, a Republican, is not a supporter of sports betting as are most governors of established sports betting states,
In the face of the overwhelming support for it, however, she went ahead and signed the bill into law.
The question now is who will be next? Could it be Washington, perhaps, or will it be New York?
