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Can you summarize 491 IAAC 13.7?
SPORTS WAGERING > Licensing.
Short Summary
This document, part of the Iowa Administrative Code, specifically the Racing and Gaming Commission section on Sports Wagering, outlines the licensing and application procedures for conducting sports wagering in Iowa. The commission issues licenses to facilities upon payment of an initial license fee and submission of a consistent application. The application process for a facility includes providing information about the entity to be licensed, disclosure of agreements with entities managing or operating sports wagering, disclosure of operating agreements for internet sites, compliance with specific requirements for qualified sponsoring organizations or horse racing purses, and the provision of a bond or irrevocable letter of credit. The application process for an advance deposit sports wagering operator with an agreement with a facility involves disclosing ownership interests, directors, or officers of the applicant, submitting investigative fees, providing a list of employees who may have contact with persons in Iowa, and presenting an agreement with the facility. The document also emphasizes the importance of record-keeping, the consequences of violating laws or regulations, and the availability of temporary license certificates. Failure to comply with the document’s provisions may result in penalties such as license revocation, fines, or suspension of operations. The document also highlights the public disclosure of ownership information filed with the administrator.
Whom does it apply to?
Facilities and advance deposit sports wagering operators
What does it govern?
Licensing and application procedures for conducting sports wagering in Iowa
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Limiting, conditioning, restricting, revoking or suspending the license, or fining the licensee or advance deposit sports wagering operator, or any combination of the above
Jurisdiction
Iowa