A bill seeking to allow the state gambling industry to adopt cashless gaming and legalize esports betting has passed the Iowa House of Representatives. The legislation, House File 2497, was passed by a vote of 71-28 and has now moved to the Senate Committee on State Government for initial consideration. These laws would allow individuals “to access a cash account through a personal electronic device for purposes of cashless wagering” on the gaming floor of the 19 licensees operating in the state.
The proposed bill would allow casinos and their financial technology partners to deploy cashless systems, as long as they introduce numerous safeguards, including a cool-off period before guests can reload their digital wallets. Meanwhile, Division III of HF2497 seeks to include electronic sports events within the provisions of sports wagering by amending the definition of an “authorized sporting event” to include esports.
The bill defines “electronic sports event” as a multiplayer video game event governed “by a recognized professional, international, or collegiate video game governing body.”
The esports expansion would build upon the May 2019 legalization of sports wagering, and the commencement of mobile operations in August of 2021.
(All information was provided by Yogonet)