Tennessee state on track to make sports betting legal

2 May 2019

Tennessee-sports-bettingLooks like Tennessee will be the next US state to give the green light on legalizing sports betting, as the governor claimed that he wouldn't hinder the process. Last Tuesday, the sports betting bill was also approved by the State senate, after the state House of Representatives did so a week before. Local newspaper the Tennesseean reported earlier this week that Tennessee state governor officially announced through his spokesperson that he wouldn't sign the bill, but he wouldn't get in the way either, allowing the bill to go into effect essentially without his signature.

What's interesting in the case of Tennessee as opposed to other states though, is the fact that the bill will only allow online and mobile betting. As a result, it doesn't include land-based wagering. As the situation stands right now, the state of Tennessee doesn't allow any form of gambling, with players being able to participate only in a few state lotteries and gaming events related to charity.

Another thing that's unique about betting in Tennessee is the fact that all holders of a sportsbook license must use official data for league betting, and specifically in-play. As a result, the leagues request a so-called "Royalty fee" to provide that data and have managed to include it in many other betting bills so far. However, the situation in Tennessee is slightly different as it seems that this fee will not be present.

The board responsible for controlling and monitoring the license process will be made out of people from the Tennessee Education Lottery. The fee to get an online and mobile betting license will be $750,000 plus another 20% tax on GGR. Estimates by state officials calculate annual taxes from betting to rise to an impressive $50m.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY
UFC 298 Odds & Preview: Volkanovski vs Topuria Featured Image

One of the biggest UFC events of the year takes place on Saturday, February 17 at the Honda Center in Anaheim, California. UFC 298, starting at 23.00 ...

Read more »

Drake Loses $700k In UFC Fight Betslip Featured Image

Canadian rapper Drake’s curse continued as he lost $700k after placing a bet on UFC’s 297 main event fight of Sean Strickland vs Dricus Du Pless...

Read more »

Next Liverpool Manager Odds: Who Will Succeed Jurgen Klopp? Featured Image

Jurgen Klopp’s announcement that he will leave Liverpool at the end of the season shocked the football world. The German will depart from Anfiel...

Read more »

Top 100 Bookmakers for 2024 Featured Image

Every day we get bombarded by dozens, if not hundreds of extravagant remarks by various online sportsbooks claiming to be the best when it comes to od...

Read more »

Betby’s Esports Solution Secures Approval From MGA Featured Image

Betby has received regulatory approval from the Malta Gaming Authority (MGA) to offer its esports odds feed portfolio independently. The MGA granted a...

Read more »

Premier League Clubs Get Closer To Bookmaker Sponsorship Ban Featured Image

The front of the shirts of Premier League clubs will no longer feature logos from bookmakers once an agreement is reached. The deal would prohibit fro...

Read more »

Betano Lands Giannis Antetokounmpo As Global Brand Ambassador Featured Image

NBA star Giannis Antetokounmpo has signed a contract with Betano, making him their first-ever global brand ambassador. The Milwaukee Bucks superstar, ...

Read more »

Bet365 Continue Their Weekly 6 Scores Challenge Game Featured Image

Sports betting industry leader Bet365 has partnered with Incentive Games, a renowned free-to-play provider, to continue their highly popular weekly 6 ...

Read more »

22bet Awarded EPL Jerseys To Five Lucky Bettors Featured Image

Five of 22bet’s Kenyan users have received English Premier League jerseys after successfully predicting the correct score of Manchester United v...

Read more »

Betting Preview And Odds For Formula 1 2023 Season Featured Image

On March 3-5, the 24th Bahrain Grand Prix will mark the return of Formula One for its first full weekend of the new 2023 season. Max Verstappen, who h...

Read more »

LATEST BOOKMAKER PROMOTIONS
bookmaker banner
bookmaker banner