The expanded gaming law that legalized sports betting in Iowa last year also legalized fantasy sports as well.<\/p>\n
Sports betting has been robust in Iowa since the first bet was placed in August 2019. Such sportsbooks as William Hill, FanDuel, DraftKings, and PointsBet are established at casinos or racetracks across the state. However, according to IRGC data, DraftKings and FanDuel are the only registered fantasy sports operators.<\/p>\n
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In fiscal year 2020, DraftKings generated more than $460,000 in revenue, according to the IRGC. Iowa residents put up entry fees totaling nearly $3.7 million, and nearly $3.6 million was paid out. FanDuel, meanwhile, reported nearly $110,000 in revenue, with slightly more than $1 million in entry fees reported and nearly $895,000 in awards distributed.<\/p>\n<\/div>\n
Both operators have reported strong starts to the 2021 fiscal year. Through the first quarter of the year, DraftKings has reported revenues of nearly $290,000, and FanDuel has posted revenues of more than $88,000. DraftKings has taken in $2.3 million in fees and paid out $1.7 million in prizes, compared to the more than $925,000 and $775,000, respectively, that FanDuel has reported.<\/p>\n
FanDuel, DraftKings Iowa-Licensed<\/h2>\n Ohorilko told Casino.org<\/em> that the DraftKings fine was the fourth handed down to a fantasy sports provider or sportsbook operator since the IRGC started regulating the games.<\/p>\nFanDuel had previously been sanctioned for a similar self-exclusion list download violation for fantasy sports, with the Commission fining the company $5,000.<\/p>\n
Besides the list violation, DraftKings was previously fined $1,000 after state officials learned the fantasy sports operator provided accounts to three individuals on the exclusion list. The accounts were discovered before any of the individuals could play any contests.<\/strong><\/p>\nFrom a sports betting standpoint, William Hill has been the only sportsbook fined by the Commission. According to IRGC records, William Hill allowed a self-excluded individual to open an advance deposit wagering account. There was a bet outstanding when the error was discovered, but the wager was subsequently locked.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Iowa Racing and Gaming Commission has fined DraftKings $5,000 for violating a regulation regarding the state\u2019s self-exclusion list. IRGC Administrator Brian Ohorilko told Casino.org Thursday that the Boston-based sports technology and entertainment company failed to download the updated list within seven days. The violation occurred within DraftKings\u2019 fantasy sports operations in the state, and […]<\/p>\n","protected":false},"author":45,"featured_media":153088,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[14007,13592,1074],"tags":[],"acf":[],"yoast_head":"\n
Iowa Officials Fine DraftKings $5K for Self-Exclusion List Violations<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n