The bill states that fantasy sports are not considered gambling because it is a game of skill.
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CLEAR LAKE, Iowa – For those who enjoy fantasy sports leagues, there is some good news from the Iowa Legislature. The Senate has passed a bill legalizing prizes above $50.
“We had 12 leagues last year,” says co-owner of The Other Place in Clear Lake, Chuck Larson. Fantasy sport leagues are nothing new for Larson, in fact, they can be good for business. “Well it brings people in here to sit and talk football,” says Larson.
Right now, it is illegal to accept more than $50 cash in winnings, so Larson has found a different way to award his top performers. “What we do for them, we give them $100 gift card plus t-shirts,” says Larson.
Soon, that could all change. Iowa lawmakers are discussing making the exchange of any dollar amount for winning legal. “It would get a lot of people interested,” says Larson.
The bill states that fantasy sports…
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