Looks 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.