It’s March Madness! Pick your teams, fill out your bracket and turn in your $5 to the office pool manager… or not? Are office pools legal under Iowa law? According to Iowa Code Section 99B.12individuals may participate in social gambling if:
1. The gambling is incidental to a social relationship between all participants
2. The gambling is not on school property
3. All participants are individuals
4. The gambling is fair and honest
5. No person receives or has the right to receive compensation except if they are the winner of the pool.
6. The participant is not a coach, official, player or contestant in the athletic contest
7. No participant wins or loses more than $50
8. No participant pays an entrance fee, cover charge, or other charge for the privilege of participating in gambling or for the privilege of gaining access to the location in which gambling occurs.
9. Everyone has the opportunity to deal, if dealing is required.
So before you turn in your bracket make sure your office is following all the rules. Go Panthers!