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your favorite sports team in Iowa. After a session's worth of debate, Governor Reynolds signed the sports betting bill late Monday afternoon. Iowans will be able to bet on professional, collegiate and international sporting events -- including fantasy sports -- at casinos and online. It's now up to the Iowa Racing and Gaming Commission to come up with the rules. Drake Law Professor Keith Miller -- a gaming law expert -- sees that coming this summer. <51;02 THEY CERTAINLY WANT TO HAVE THINGS READY BY FOOTBALL SEASON 51;04> Now earlier this year -- I showed you how Prairie Meadows was well underway on building its sports betting facility. Monday - an executive told me off camera they're thrilled -- and it is hard work -- paid off. Miller says sports betting probably won't be a big money-maker for them -- or the state...but it will create a lot of attention. <52;52 I THINK THE WAY CASINOS LOOK AT IT IN IOWA IS THEY MAY NOT MAKE A LOT OF MONEY OFF THE SPORTS BETTING THEMSELVES BUT IT BRINGS PEOPLE IN THE DOORS THEY MAY GAMBLE ON OTHER THINGS, THEY MAY EAT IN THE RESTAURANTS 53;04> <BITE FROM ARCHIVE: BRING IT OUT OF THE SHADOWS> That's what the bill's Senate sponsor argued this April. But Tom Coates doesn't buy it. <25;05 THE ONES IN THE SHADOWS AREN'T GONNA BE PULLED OUT -- THEY'RE GONNA STAY IN THE SHADOWS. 25;08> Coates leads Consumer Credit of Des Moines, a non-profit focused on getting people out of debt. He argues legalizing sports betting is a gateway for NEW gamblers -- especially young men. <19;19 IT IS THE NOSE OF THE CAMEL INTO THE TENT. 19;21> And he thinks it will get some of them into a cycle of problem gaming. <20;19 I WAS TOLD YEARS AGO TO SHUT UP BECAUSE THIS IS GONNA GENERATE MORE BUSINESS FOR ME. EVEN IF THAT WERE TRUE, I WOULD NOT SIT STILL AND SAY 'OH GREAT.'" 20;28> <BUTTED> <22;52 IT'S NOT A GOOD DAY FOR IOWA. 22;53> Governor Reynolds feels the opposite... A spokesperson says she believes it WILL bring the practice out of the black market... and regulate in a responsible way. For more on the bill, check

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Central Iowans will soon be able to bet on their favorite sports team in Iowa.After a session's worth of debate, Gov. Kim Reynolds signed a bill legalizing sports betting late Monday afternoon.The law allows betting on professional, collegiate and international sporting events, including fantasy sports, at casinos and online.Now that the bill is signed, it is up to the Iowa Racing and Gaming Commission to establish rules.Drake law professor Keith Miller, a gaming law expert, believes gambling rules will be complete this summer."They certainly want to have things ready by football season," Miller said.Brad Rheins, Prairie Meadows' chief strategy officer, said officials at the casino are thrilled that Reynolds signed the bill into law.Miller said sports betting will create a lot of attention for Iowa casinos."I think the way casinos look at it in Iowa is they may not make a lot of money off the sports betting themselves, but it brings people in the doors. He said. "They may gamble on other things. They may eat in the restaurants."Tom Coats, director at Consumer Credit of Des Moines, said the new law could increase gambling addiction in Iowa."That's one of the casinos' big motivations," Coats said. "Their model is dying out. It's older Iowans that want to sit on a stool for hours on end playing the slots and that's not where the younger people want to be."Consumer Credit of Des Moines is a nonprofit focused on getting people out of debt. Coats argued that legalizing sports betting is a gateway for new gamblers -- especially young men.He fears sports betting will bring new people into the cycle of problem gaming."I was told years ago to shut up because this is gonna generate more business for me," he said. "Even if that were true, I would not sit still and say, 'Oh, great.' It's not a good day for Iowa."A spokesperson for Reynolds said the governor believes that legalized sports betting will bring the practice out of the black market and regulate it in a responsible way.