The Iowa Sports Wagering 411
At noon on August 15, 2019, Iowans will be able to make the first legal sports wager in the history of Iowa. Big news! What a time to be alive!
On "Don't Hassle Us We're Local", we have been banging the gambling drum about legal sports wagering long before the Supreme Court overturned PASPA in May of 2018. When Iowa passed SF617 a year later, Iowa became the 11th US state to allow sports wagering.
What will Iowa sports wagering look like? What are some popular bet types? Where can I bet?
Glad you asked.
SPORTS BETTING IN IOWA
- Around 80 percent of modern sports betting takes place online or on mobile devices. Iowa has done well to ensure that its law allows online betting from the get-go, bettors must register at casinos in-person for mobile accounts until Jan 2021.
- Instead of just betting on the outcome of a match or event, sports bettors can now make in-game wagers on almost anything that might happen during a game. The range of sports that you can bet on is also larger. Now you can bet on your favorite NFL, MLB or NHL games, but you can also bet on foreign soccer competitions, or tennis games and even minority sports are available. Like our radio show guest, Jay Roode, says about most bets, "We can make it happen. You have to ask."
- POINT SPREAD - The most popular sports bets are based on the point spread. The point spread represents the margin of points in which the favored team must win the game by to “cover the spread.” Bets on the point spread are usually offered at 11 to 10 odds. For example, a player must bet $11 to win $10 for a total payout of $21 or $110 to win $100.
- MONEY LINE BET - The money line represents the odds of a team winning the game outright without the use of the pointspread. The money line is expressed as a 3-digit number. For example -150 means a player must bet $150 for every $100 he wishes to win, $15 for every $10 and multiples thereof.
TYPES OF SPORTS WAGERING
- STRAIGHT BET - A straight bet is an individual wager on a game or event that will be determined by a pointspread or money line.
- PARLAY - A parlay is a single bet that links two or more wagers; to win the bet, the player must win all the wagers in the parlay. If the player loses one wager, he loses the entire bet. However, if the player wins all the wagers in the parlay, the player wins a higher payoff than if the player had placed the bets separately.
- FUTURES - A futures bet is a wager placed on an event typically far in the future, such as which team will win next year’s pro football championship game or pro hockey championship series.
- PROPOSITIONS OR "PROP" BETS - Proposition bets, or “prop” bets, focus on the outcome of events within a given game. Props are often offered on marquee games of great interest. These include Sunday and Monday night pro football games, various high-profile college football games, major college bowl games and playoff and championship games. An example of a prop bet is “Which team will score the first touchdown?”
- TEASER BET - A teaser is a type of football or basketball wager in which the pointspread is adjusted by additional points in the player’s favor on more than one game. In football, a player may move the posted pointspread 6, 6.5, 7, 10 or 14 points. In basketball, 4, 4.5 and 5-point sports betting teasers are offered.
- ROUND ROBIN BET - A round robin is a series of parlays. For example, a 3-team round robin consists of three 2-team parlays (A + B, A + C and B + C).
- IN-GAME BETTING - In-game or in-play betting is one of the most popular forms of sports betting now. Available bets range from who will score next to what the points spread will be at the end of each quarter. Imagine you have made a bet that your favorite team will win a game. But the play has gone against them and it now looks like you might lose your bet. With in-game betting, you can now hedge your bet by placing a bet on the opposition and so reduce your chance of losing the whole bet.
WHERE TO BET ON THE IOWA SIDE OF THE QUAD CITIES
IOWA STATE SPORTS BETTING FAQ
- HOW OLD DO I HAVE TO BE TO PLACE A LEGAL SPORTS BET? You must be over 21.
- CAN I PLACE BETS ON MY ACCOUNT WHEN I AM OUTSIDE THE STATE? No, you can only use your online and mobile sports betting account when you are physically inside the state borders. The operators use geo-fencing technology to ensure no breaches
- DO I HAVE TO LIVE IN IOWA TO BET? No, you can set up an account online even if you are only visiting the state. However, you can only bet when you are inside state borders.
IF YOU GO
WHAT: First Day of Legalized Sports Betting in Iowa and Ceremonial First Bet at William Hill Sports Book at Isle Casino Hotel Bettendorf
WHO: Michael Grodsky, William Hill US Vice President of Marketing and Public Relations
Nancy Ballenger, Vice President and General Manager of Isle Casino Hotel Bettendorf
Mayor of Bettendorf, Robert Gallagher
WHEN: August 15, 2019
11 a.m. Media Check-In
11:40 a.m. Ribbon Cutting
Noon Ceremonial first bet
12:15 p.m. One-on-one interview opportunities with representatives from
Isle Casino Hotel Bettendorf and William Hill US
WHERE: William Hill Sports Book at Isle Casino Hotel Bettendorf
1777 Isle Pkwy
Bettendorf, IA 52722