Iowa Online Sports Betting Guide 2024
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Online sports betting is fully legal in Iowa, making it an exciting time to get started, but figuring out where to begin can be daunting. You’re not alone!
With a multitude of sportsbooks, options, and regulations, navigating the Iowa sports betting scene can be confusing for newcomers. However, understanding the landscape can greatly enhance your betting experience in the Hawkeye State.
This comprehensive guide will walk you through Iowa’s sports betting legal framework, highlight the top sportsbook choices, and offer strategies to maximize your bets. Ready to dive in?
🔑 Key Takeaways
- Discover the best legal sports betting sites available in Iowa.
- Understand the legal landscape around sports betting in Iowa.
Top Iowa Sports Betting Sites and Apps
Iowa has a thriving online sports betting market with over 10 sportsbooks that are legal and licensed by the Iowa Racing and Gaming Commission. We’ve highlighted our top 5 below based on several factors, including competitive odds, bonuses, user-friendly interface, and strong reputation. If you want more details on the bonuses then be sure to check out our page on Iowa sportsbook promos.
📰 Latest News
September 2024: Iowa’s sports betting handle soared to $270.8 million, marking a 62.1% increase over August. This surge was driven by a month’s worth of football, leading to a total revenue of $27.4 million—a significant 74.5% spike from the previous month. DraftKings maintained its lead, reporting over $100 million in handle, the only sportsbook in Iowa to reach nine figures.
August 2024: In Iowa, the gross gaming revenue (GGR) from sports betting increased by 31% year-over-year to $13.9 million, with the total betting handle growing by 26% to $138 million. DraftKings was the market leader, capturing 37% of the GGR, followed by FanDuel at 31%, Caesars at 11%, and BetMGM at 8%.
Is Online Sports Betting Legal in Iowa?
Yes, online sports betting is legal in Iowa. The state legalized sports betting on May 13, 2019, when Governor Kim Reynolds signed SF 617 into law.
The bill allowed for online and retail sports betting, making Iowa one of the first US states where you can bet online on sports. It also authorized the Iowa Racing and Gaming Commission as the sole regulator of the market. Additionally, bettors must be at least 21 years or older to place a wager in the state.
While Iowa supports betting on various sports, including professional and collegiate events, it prohibits prop bets on individual college athletes.
On August 15, 2019, the first retail sportsbook, William Hill, started accepting bets in the state. Now, Iowa boasts a wide range of retail and online bookies, allowing residents and visitors to wager on their favorite teams in person and from the convenience of their mobile devices.
Initially, you have to visit a licensed brick-and-mortar casino to sign up for an online betting account. However, since January 1, 2021, Iowa allowed remote registration, making it possible for you to sign up and bet online from anywhere within the state borders.
10 Quick Facts About Iowa’s Sports Betting Laws
- Iowa Law: Iowa legalized sports betting on May 3, 2019, following Governor Kim Reynolds’ approval of SF 617, which established retail and online sports betting in the state.
- Legal Age for Sports Betting: You must be at least 21 to bet on sports in Iowa. You will be asked to verify your identity and age while opening a sportsbook account in the state.
- State Borders: You can only engage in sports betting in Iowa when you are within the state borders. Operators use geolocation technology to ensure this.
- Retail Bookmakers: Iowa sports betting law allows licensed casinos and racetracks to operate retail sportsbooks. There are currently 18 locations offering sports betting across the state.
- Taxes: Iowa taxes sports betting revenue monthly at 6.75%, with a further 0.75% on tax handle.
- Regulation: The IRGC licenses operators and establishes rules in the state’s sports betting market.
- Banned Bets: Iowa prohibits player proposition wagers for individual athletes from colleges in its jurisdiction. However, it accepts general collegiate betting.
- Responsible Gambling: Iowa mandates its operators to implement responsible gaming measures, including self-exclusion programs and problem gambling support.
- Popular Sport: Football is the most popular sport to bet on in Iowa, usually accounting for over 50% of all sports bets
- No Credit Cards: You can not use a credit card to deposit into your sports betting account in Iowa. The state implements this rule to reduce the risk of problem gambling.
How to Bet on Sports in Iowa
Using my own experience, let’s go through the steps you need to follow to start your sports betting adventure in the Land of Opportunity:
- Select a licensed bookmaker: There are over 10 sportsbooks in the state, including DraftKings, FanDuel, and BetMGM. Before selecting a bookmaker, I researched and compared their odds, bonuses, and user experience.
- Sign up: When you have found your preferred option, create an account with the sportsbook. You will be asked to provide basic details like your name, date of birth, and social security number.
- Make a Deposit: Head to the cashier section of your chosen bookmaker to deposit into your new betting account. Most Iowa sports betting sites accept popular debit cards like Visa and Mastercard. You can also pick from e-wallet options like Neteller, PayPal, and Skrill. I recommend using an e-wallet because they are faster and more convenient than traditional payment methods. Depending on the bookie you select, you will need to deposit at least $10 or $5.
- Check Available Markets: With playing funds in your account, you can now start wagering on games. On the homepage, you will find a list of all the sports the bookie supports, such as football, basketball, or baseball.
- Place your Bet: Choose your preferred sport and browse the various available markets. For starters, I suggest you start with the moneyline bet since it’s the most straightforward and easiest to understand; you simply pick the winner of the game. Select your bet amount and confirm the wager.
Now, you sit back, relax, and enjoy the game; if the bet wins, the sportsbook will automatically credit your online account with the winnings.
Popular Sports and Teams to Bet on in Iowa
Iowa has no professional major league sports teams. However, the state is home to four major college teams playing in the NCAA Division for all sports. These teams are highly followed in Iowa and account for a large percentage of the betting action in the state.
| Sports | Teams Name | Description |
|---|---|---|
| Football Basketball Baseball Wrestling Volleyball | Iowa Hawkeyes (University of Iowa) | Located in Iowa city, the Hawkeyes are a powerhouse in the Big Ten Conference and NCAA Division 1. They have passionate fans across various sports who often back them with their sports bets. |
| Football Basketball Wrestling | Iowa State Cyclones (Iowa State University) | A member of the Big 12 Conference, the men’s and women’s Cyclones have a reputation for exciting games and upsets. |
| Football | Northern Iowa Panthers | Located in Iowa City, the Hawkeyes are a powerhouse in the Big Ten Conference and NCAA Division 1. They have passionate fans across various sports who often back them with their sports bets. |
| Baseball | Iowa Cubs | A Minor League Baseball team in the International League, the Cubs have a loyal fan base in the state. |
| Ice Hockey | Iowa Wild | The Wolves play their home games at the Wells Fargo Arena and compete in the Western Conference of the NBA G league. |
| Basketball | Iowa Wolves | The Wolves play their home games at the Wells Fargo Arena and competes in the Western Conference of the NBA G league. |
| Auto Racing | Iowa Speedway, Knoxville Raceway | The Speedway and Knoxville Raceway host auto racing championships all year long such as the IndyCar series and Knoxville Nationals. |
The Impact of Local Teams on Sports Betting
Despite having no teams in the top-tier leagues, sports is still a vital aspect of Iowa’s culture. Iowans have all the love to give to their local teams, and most of the time, this passion and dedication influence their sports betting wagers:
- Lots of bets during team plays: When these teams play, especially in high-stakes matches like bowl games or rival matchups like the Iowa Corn CY-Hawk Series, there is usually a surge in betting volume.
- Sports betting activity in Iowa aligns with local teams’ schedules: During the fall and winter months, which coincide with the college football and basketball seasons, betting action increases significantly. In contrast, the summer months, when local events are scarce, see a notable decrease in betting activity.
- On & off teams’ metrics & situations directly impact the betting decisions: Furthermore, on-field and off-field developments in the teams, such as coaching changes, injuries, player transfers, and suspensions, frequently impact the wagering decisions of the state bettors.
Are There More Gambling Options in Iowa?
Seeking an alternative to sports betting, Iowa has the right set of options. The state offers a diverse range of legal gambling activities that can give you new ways to win. Let’s look at them below:
- Retail Sports Betting: Iowa features over 30 retail sports betting venues such as Diamond Jo Worth and Wild Rose Jefferson, where you can experience the thrill of in-person betting.
- Horse Racing: Wager on live and simulcast horse races at the Prairie Meadows Racetrack and Casino and other licensed establishments in the state.
- Daily Fantasy Sports: Legal and available in Iowa, daily fantasy sports offer an exciting alternative to traditional betting. Platforms like DraftKings and FanDuel host contests that allow Iowa users to compete in a fun and competitive setting.
- Casino: Iowa has more than 20 land-based casinos where you can play popular casino games like slot machines, video poker, and table games like blackjack and roulette.
- Poker: You can also enjoy poker at Iowa casinos. Participate in live poker games, tournaments, and cash games across variations like Texas Hold’em and Omaha.
- Lottery: Iowa has a state lottery with various games, including Powerball, Mega Millions, and scratch-off tickets. You can purchase your lottery tickets online or at retailers in the state.
Tips and Strategies for Iowa Bettors: How to Maximize Your Bets
Now that you know how to place your first sports bet in Iowa, you need to consider maximizing your wagers to have a rewarding betting experience. This involves adopting effective strategies and practices to optimize your betting decisions. Allow me to share with you some top tips and expert strategies:
- Compare lines at different sportsbooks: Shopping for the best lines and odds has consistently helped me get the most value from my bets. It involves comparing odds at different Iowa sportsbooks to find the most favorable ones. By doing so, you can increase your potential winnings.
- Manage your Bankroll: Irrespective of where you are wagering, one tip that can never go out by of style is having a budget. There are many available markets at Iowa sportsbooks, and setting a budget helps ensure you don’t overspend. Stick to your budget; don’t chase losses or be carried away by winning streaks.
- Hedge your bets: Another way to maximize your betting returns in Iowa is to diversify your betting portfolio. You can do this by placing multiple bets on the same event at different sportsbooks.
Iowa Sports Betting Taxes
You are expected to pay taxes on any financial activity in the US, and sports betting is no exception. Your sports wagering returns are considered taxable income, and as such, the federal government and the state of Iowa want a share of your haul.
While Iowa does not require you to report winnings below $600, you may still need to file them on your federal tax return. The IRS mandates reporting all gambling winnings, regardless of the amount.
- For winnings of $600 and more, the sportsbook will send you the IRS Form W-2G, which shows your winnings and any federal income tax withheld.
- If your winnings are $5000 and above, the bookie may withhold up to 24% of the amount for federal income tax. Up to 5% will also be withheld for Iowa state taxes.
A pro tip here: Always record each wagering transaction, including the date, amount wagered, and any wins or losses. You don’t know when you will need it.
Understanding these tax implications is crucial, so I recommend reading more about how taxes work on sports betting winnings.
So, Will You Bet from Iowa Tonight?
From online sports betting apps to gigantic retail sportsbooks, Iowa has everything you need to have an enjoyable sports wagering experience.
As long as you are 21 years or older, you can easily sign up and place a legal wager on your favorite team in the Hawkeyes State. Choose your preferred Iowa sportsbook and start betting for real money today. Don’t forget to bet responsibly and wisely. And may the odds be in your favor!
Curious about other US states with similar sports betting offers? Read this Indiana online sports betting guide now.
Frequently Asked Questions
The best Iowa sports betting sites for new users include FanDuel, DraftKings, and Caesars. These platforms offer competitive sportsbook promos, user-friendly interfaces, and different betting options to help beginners get started.
Yes, you can use a mobile app for sports betting in Iowa. Many top Iowa sports betting apps, such as the DraftKings and FanDuel apps, offer convenient features for placing bets, accessing promotions, and managing your account on the go.
Yes, it is legal to bet on college sports in Iowa. The state allows wagers on collegiate events, including those involving Iowa-based teams. However, there are some restrictions, such as prohibiting prop bets on individual college athletes.
Legal Iowa sports betting launched on August 15, 2019, with William Hill being the first retail sportsbook to go live.
