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Can I offer a sports betting product in Iowa? What are the requirements?

To offer a sports betting product in Iowa, you must obtain specific authorization from the Iowa Racing and Gaming Commission [1.1]. The commission issues licenses to conduct sports wagering to licensees authorized to conduct gambling games at a pari-mutuel racetrack enclosure or a licensee authorized to operate an excursion gambling boat or gambling structure [3.2].To obtain a license, you must submit an application to the commission consistent with the requirements of section 99F.6 and pay an initial license fee of $45,000 [3.2]. Additionally, you must comply with all requirements of Chapter 491, including those related to account registration, operation of an account, account funds, annual audit, and wagers [1.1].Some of the key requirements for offering sports betting in Iowa include:In addition, if you are offering an internet fantasy sports contest, you must be licensed by the commission to offer an internet fantasy sports contest under Iowa Code chapter 99E [2.1]. You must also comply with the licensing standards, application procedure, investigative fee, application fee, reporting of changes, ineligibility, disclosure, public disclosure, supplementary information, and requirements placed upon applicants and licensees as outlined in 491 IAAC 14.2 [2.1].Licensees must also submit a description of internal controls to the administrator [2.2].For a more detailed list of requirements, please refer to Chapter 491 and Iowa Code section 99F.7A [1.1][3.2].