Gov. Reynolds Signs Bill Legalizing Sports Betting in Iowa

DES MOINES, Iowa -- Bipartisan support sent a bill legalizing sports betting in Iowa to the desk of Gov. Kim Reynolds, and she signed the bill into law Monday.

The law legalizes sports betting online and in person at Iowa casinos. It also allows betting on college sports and fantasy sports.

Iowa casinos must now apply for licenses to allow sports gambling. Those casinos will be charged a 7.5 percent tax rate on revenue from sports betting.

The Iowa Racing and Gaming Commission will have the authority to set a start date for legalized sports betting in Iowa.

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