What you need to know about sports betting in Iowa

Sports bettors in Iowa wagered more than $165 million — an average of over $450,000 a day — on games, matches and bouts in 2022, according to the Iowa Racing and Gaming Commission. Here are some answers to frequently asked questions about sports betting in Iowa.

When was sports betting legalized in Iowa?

After the U.S. Supreme Court overturned a federal ban on sports betting in 2018, Iowa legalized sports gambling Aug. 15, 2019. At first, people had to register at one of Iowa’s 19 licensed casinos, but since 2021, registration may be done online. People must be 21 or older to place bets and only on professional or college contests.

How do I get started?

Open an account with an online bookmaker, or sportsbook. All state-licensed casinos in Iowa also are licensed for sports wagering and can partner with up to three advance-deposit sports wagering operators, such as DraftKings or FanDuel. Gamblers may open accounts with multiple sportsbooks. Be prepared to share personal information, including Social Security number and date of birth, which companies use to verify your identity and age.

Which sportsbooks are the most popular?

Like in the rest of states with legal sports betting, DraftKings and FanDuel are by far the most popular, according to Ian St. Clair, content manager at PlayIa.com, which covers the gaming industry in Iowa. “They’re followed by BetMGM, BetRivers and Caesars. The one sportsbook to keep an eye on is Bet365. The sportsbook has the experience and name to compete in the state and the U.S.,” he said.

How do I place a bet?

Sportsbooks require gamblers to put money, sometimes as little as $5 to $10, into an account before betting. You choose the bet you want to make (sport, game, bet type) and how much you will wager. Some sportsbooks accept bets of less than a dollar and you also can bet in cryptocurrency. If you win, the sportsbook will deposit the winnings into your online account, which you can cash out at anytime.

What’s most common bet?

The simplest and most common bet is the moneyline bet. This is when you bet on a team to win.

What about a point spread bet?

In a point spread bet, you are putting money on a team’s margin of victory, not the final result. Oddsmakers set a point spread based on the projected outcome of a contest. If the spread is (-8.5) points, your team needs to win by nine or more points. If you bet on the underdog, they can lose by fewer than 8.5 or win outright for you to collect.

What is an over/under bet?

In this popular bet, the gambler bets on whether both teams together score more or less than the set point total. For example: In a football game between the Chicago Bears and Green Bay Packers, say the point total is set at 48. But the Packers and Bears together score only 45 points. A person who bet the under would win.

What’s a parlay?

A parlay is a bet that involves multiple bets winning. Yahoo! Sports describes a parlay as a multi-scoop ice cream cone in that you can stack the bets and if you win them all you get a big payout. But if you lose one scoop — or bet — the whole thing falls apart and you have no treat.

Can I make a prop wager in Iowa?

A proposition (or prop) bet is a wager that isn’t directly related to the outcome of a game. Bettors can wager on team props, such as first team to score, or professional player props, such as the first to score a touchdown on the quarterback with the largest number of completed yards. Prop bets can also be more outlandish. At last year’s Super Bowl, there were prop bets on how often Tom Brady would be mentioned on the broadcast and what Rihanna’s first song would be in the halftime show, Click on Detroit reported. However, Iowa law does not allow prop bets on in-state college players.

Does online betting track my location?

Iowa sports betting is legal only in the state, so the sportsbooks will track the physical location of each bettor — or at least the bettor’s device. Someone registered to bet on sports in Iowa can’t do so while on vacation in California, or even just across the border in Illinois. But an Illinoisan could come into Iowa, set up an account here and gamble on sports while in Iowa.

Can I set limits on my gambling?

Yes. Sportsbooks are required to provide ways for users to set limits on their gambling, either by limiting time on the app, deposit amount or wager amount. Users also may exclude themselves from playing for a specific period of time, such as up to five years on DraftKings.