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(Figured somebody would have blogged this here already, but search shows nothing, so here goes...)

By now we've all heard of this: Mitt Romney offers Rick Perry $10,000 bet

And here were "Newt Romney's" exact words:

Rick, I'll tell you what, ten thousand bucks? Ten thousand dollar bet?

Just a friendly bet among two friendly millionaires, right?  But here's what the Iowa Code has to say about that:

725.7  Gaming and betting — penalty.
1.  Except as permitted in chapters 99B  and 99D , a person shall not do any of the following:
a .  Participate in a game for any sum of money or other property of any value.
b .  Make any bet.

[...]

2.  A person who violates this section  is guilty of the following:

[...]

d .  Illegal gaming in the first degree if the sum of money or value of other property involved exceeds five thousand dollars.  Illegal gaming in the first degree constitutes a class “C” felony.

(In the unlikely event this question ever made it into court, I assume this would come down to the question of whether a bet is "made" even if the counterparty has failed to accept it.  So, class C felon or only attempted class C felon?  I'll leave that to our resident lawyers...)

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