Iowa HSB757 modifies advance deposit wagering authorizations for horse racetracks.

Iowa HSB757 amends the authorizations for advance deposit wagering, a method of pari-mutuel wagering. The bill removes the requirement for the state racing and gaming commission to authorize the licensee of the horse racetrack in Polk county. Instead, the commission must authorize an entity licensed under Code section 99D.9D to conduct advance deposit wagering. Of the net revenue from this wagering, fifty percent is designated for the horse purses created pursuant to section 99D.7, subsection 2.

Iowa HSB757 modifies advance deposit wagering authorizations for horse racetracks.

Iowa HSB757 amends the authorizations for advance deposit wagering, a method of pari-mutuel wagering. The bill removes the requirement for the state racing and gaming commission to authorize the licensee of the horse racetrack in Polk county. Instead, the commission must authorize an entity licensed under Code section 99D.9D to conduct advance deposit wagering. Of the net revenue from this wagering, fifty percent is designated for the horse purses created pursuant to section 99D.7, subsection 2.