Iowa fines sportsbook 60k for use of credit cards
State regulators issued a penalty involving American Wagering, which does business as Caesars Sportsbook.
Iowa Racing and Gaming administrator Brian Ohorilko revealed that a sportsbook in Iowa was fined $60k for illegally allowing the use of credit cards on its site.
It was also revealed that the penalty involves American Wagering, which does business as Caesars Sportsbook.
Ohorilko commented: “There was a specific incident in July of 2021, where it was discovered that there were a number of transactions that took place using a credit card. And so it was discovered at that time that a full audit was completed.
“Throughout certain periods in 2020 and 2021, prepaid debit cards were purchased using a credit card and a number of those transactions were permitted and went through.
In total there were 485 transactions worth $212,000, which Ohorilko says the Iowa Racing and Gaming Commission felt was fairly egregious.
During the last commission meeting, FanDeul was fined $75k for a two-count violation.
Ohorilko noted this has happened often in the past and more penalties are on the way from the commission. He also said that this situation is “important for the sports books to get a handle on.”
The state of Iowa prohibits credit cards from being used for sports betting or any form of gambling.
Ohorilko continued: “We’ve heard some positive things from the different operators that have had problems and that they are taking steps to not only correct the action — but to develop procedures to audit these types of things — so that they’re doing their own self-checks.”
License suspensions could be an option if operators are unable to remedy recent violations.
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