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Iowa Lottery prepared to take sports bets if lawmakers approve

Feb 7, 2019, 12:41 pm

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Sports BettingSports Betting: Iowa Lottery prepared to take sports bets if lawmakers approveRating:

DES MOINES, Iowa — On Wednesday the Iowa legislature began what will likely be a long conversation over legalizing sports gambling in Iowa.

A legislative subcommittee considered four separate bills on Wednesday that would legalize betting on professional and collegiate sports.  A 2018 US Supreme Court ruling lifted the federal moratorium on the activity.

Delaware was the first state to take advantage of the ruling and begin taking bets on sports.  Their system allows sports gambling at casinos as well as at lottery locations across the state.  The Iowa Lottery supports a bill that would do the same thing here.

The Iowa Lottery says it has all of the infrastructure in place already to allow for small bets to be taken at retailers.  They says offering gambling at retailers across the state will spread out tax dollars to all 99 counties, not just those with casinos.

The Iowa Gaming Association was among those speaking out against that plan.  They argue that while the state could make millions by allowing gambling it could also lose millions if the enough bettors beat the odds.  They say too many people rely on lottery profits to gamble with them.

"The New Jersey sports book in this most recent Super Bowl lost money," Wes Ehrecke, President of the Iowa Gaming Association, told lawmakers, "Should we put the state's money that they do provide for a lot of worthwhile aspects from the veterans trust fund to the education general fund, et cetera, at risk? There's a volatility that should be in the casinos."

The Iowa Lottery says it is fully aware of the risks involved in all gaming and they are confident they know what they are doing.

"There is risk inherent in any type of gaming," Rob Porter, Vice President and General Counsel for the Iowa Lottery, "Whether it is large orders of scratch tickets, whether you operate a Lotto game or your operate sports gaming. The Iowa Lottery has proven over 30 years that we can successfully manage risk and we will continue to do that."

None of the four bills discussed on Wednesday advanced but all remain open for discussion.

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3 comments. Last comment 2 years ago by Bleudog101.
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Coin Toss's avatar - shape barbed.jpg
100
Zeta Reticuli Star System
United States
Member #30469
January 17, 2006
11503 Posts
Offline

From the OP

The Iowa Lottery says it has all of the infrastructure in place already to allow for small bets to be taken at retailers. 

I wonder how small they are talking. The average person going after a jackpot with one, two or three dollars isn't going to get excited about betting $110 to win $100.

Also from the OP

"The New Jersey sports book in this most recent Super Bowl lost money," 

One of the Vegas casinos I worked in stiffed all the people on profit sharing one year, the excuse being they took a 'bad beating' in the Super Bowl. When they found out the could get it on..........

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners. 

Lep

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

    Avatar
    Kentucky
    United States
    Member #32651
    February 14, 2006
    8994 Posts
    Offline

    I can legally bet on horse racing on my PC, Ipad, phone, etc. in KY and now can use the same account to make sports bets but only if I'm physcially in New Jersey. It's all about personal betting preferences and lotteries in any state that offers casino type gambling and makes sound business sense to offer some of those games online too. 

    Online stock trading started right after Al Gore invented the Internet and even though some people lost millions, I never heard the same "people will lose all their money" arguments against stock trading that always come up when a lottery decides to try something new. The thing is, the legislations critics have no problem spending the profits. 

    Iowa is just another example of a progressive state lottery.

      Avatar
      Simpsonville
      United States
      Member #163184
      January 22, 2015
      2281 Posts
      Offline

      I can legally bet on horse racing on my PC, Ipad, phone, etc. in KY and now can use the same account to make sports bets but only if I'm physcially in New Jersey. It's all about personal betting preferences and lotteries in any state that offers casino type gambling and makes sound business sense to offer some of those games online too. 

      Online stock trading started right after Al Gore invented the Internet and even though some people lost millions, I never heard the same "people will lose all their money" arguments against stock trading that always come up when a lottery decides to try something new. The thing is, the legislations critics have no problem spending the profits. 

      Iowa is just another example of a progressive state lottery.

      Casino interests always butting in when it won't affect them-bottom dollar that is.  Remember the fuss that the few remaining casinos in Mississippi about a lottery coming there?

      Don't even get me started on the Constitution of Nevada prohibiting the lottery from being played there.  Two guesses who the lobbyists worked for there...think Las Vegas.