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We have all the latest news pertaining to Iowa and the sports betting industry there.
Iowa Regulated Sports Betting at a Glance
Iowa has a lot of regulated apps for such a small state. These include DraftKings, PointsBet, FanDuel, Caesars, BetRivers, BetMGM, Tipico, SuperBook, BetFred, Betway, Bally Bet, Hard Rock, Barstool, Elite, Sportsbook, Circa Sports, Q Sportsbook, ClutchBet and DRF Sportsbook.
Know that the Iowa sportsbook apps do not accept credit cards.
Tax withheld is 24% federal. Winnings that exceed $600 must be reported to the state and taxed at 5%. Iowa sportsbook apps do report winnings to the IRS.
No Evidence of Match Fixing in Iowa Schools Betting Probe
(May 9, 2023) - A fast developing story has the Iowa Racing and Gaming Commission looking into multiple sports programs at both Iowa State and Iowa University to determine “potential criminal conduct related to sports wagering”.
Iowa Hawkeyes baseball players are suspected of wagering and violation of NCAA policy.
"The commission takes the integrity of gaming in the state seriously and is continuing to monitor the situation and will provide any additional information when able," Brian Ohorilko, the director of gaming for the commission, told the outlet. Ohorilko did not respond to phone and email messages from The Associated Press.
Ohorilko also confirmed that there is no evidence of match fixing or suspicious wagering activity.
"There wasn't anything giving us pause or leading us to believe that any of these markets were compromised," he told the Action Network.
A number of Iowa baseball players were suspended for a three-game series against Ohio State in Iowa over the weekend.
Players from the men's basketball and football teams are also being probed.
Iowa Sports Betting Top News Stories
(May 9, 2023) - Officials have begun probing the Iowa Hawkeyes and Iowa State Cyclones sports programs over “potential criminal conduct related to sports wagering” that span across various sports including men's basketball, football and track and field as well as men's wrestling. Additionally, one full-time employee of the UI Department of Athletics is under investigation at this time.
A timeline was provided by the Commission that spanned the period May 2, first notification of potential criminal conduct to sports betting and violation of NCAA policy, to May 5, notifying of several student-athletes they would be prohibited from participating in upcoming competitions.
A notice was sent out on May 8, 2023.
- Gilbert Horowitz, Gambling911.com
