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Gambling.co.uk: Gambling News Archive

Iowa passes advanced deposit wagering legislation

The bill also calls on the Iowa Racing and Gaming Commission to complete a study examining the regulation of online poker in the state by 1 December 2011.

Friday 27th May 2011



The Republican governor for the American Midwestern state of Iowa has signed legislation into law that will permit parimutuel licensees to offer advanced deposit wagering on horseracing. The bill also calls on the Iowa Racing and Gaming Commission to complete a study examining the possible regulation of online poker in the state by 1 December 2011. Known as Senate File 526, the proposal passed through the Iowa General Assembly in Des Moines early last week before being signed into law by Governor Terry Branstad yesterday. The new legislation requires that outlets be licensed and regulated by the Iowa Racing and Gaming Commission in order to offer advanced deposit wagering and eliminates the need for counties that have approved racetracks or casinos to hold new referendum on the issue every eight years once such referenda have passed twice. In addition, the law will now see the state’s only horseracing track, Prairie Meadows Racetrack and Casino in Altoona, permitted to establish its own advanced deposit wagering service. Other features of the legislation see it establish a minimum 67 days of racing for thoroughbreds and 26 for quarter horses while eliminating the so-called ‘sunset clause’ that would have seen the current law stipulating that eleven percent of casino revenues be earmarked to help fund horse purses expire in 2021.




Source: OnlineCasinoNews

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