Tennessee Sports Betting To Become Law, Even Without Governor’s Signature

• Tennessee Sports Betting Bill, TN SB 16, was finally passed in the State Senate earlier this week by a 19-12 vote.
• Tennessee Governor Bill Lee plans to let the bill become law without his signature.
• Sports betting in Tennessee will only be available online or through mobile devices.

NASHVILLE, Tenn. – After multiple waves of amendments and tight voting margins by both legislative chambers, a final Tennessee sports betting bill will be sent to TN Governor Bill Lee’s desk. Governor Lee plans to let the bill become law without his signature, as reported by The Tennessean.

“The governor has said he does not believe that the expansion of gambling is best, but he recognizes that many in the legislature found this to be an issue they want to explore further,” said Laine Arnold, Governor Lee’s press secretary.

Tennessee sports betting bill TN SB 16 was heard for the final time earlier this week by the State Senate and was substituted for its companion House Bill TN HB 1 before being officially passed by a 20-12 voting margin.

The bill is now in transit, and once it reaches Governor Lee’s office, it will need 10 more days before it can officially become law. Once that happens, the legislation will become effective as early as July 1 of this year.

What Will Tennessee Sports Betting Look Like?

The original House bill included language for brick-and-mortar sportsbooks as well as online and mobile sportsbooks. However, due to the fact that Tennessee has no retail casinos, the bill was amended and left only online sports betting as an option for those in the Volunteer State.

Other restrictions include limiting operators to only using official league data for any in-game wagering feature they hope to introduce. This gives professional sports leagues power in which they do not have in any other state that has legalized sports betting.

The cost for potential operators to enter the Tennessee sports betting market is another major amendment to keep in mind.

The license fee was originally written to be $7,500 and the tax rate was set at 10%, but those figures have been increased substantially. The license fee is now $750,000 and the tax rate has been doubled to 20%.

Even with these increased expenses for sportsbook operators, online sports betting in Tennessee is estimated to bring in $50 million each year to the state, which will then be used to fund education, local government, and problem gambling services.

Other Key Points

As far as rules for potential sports bettors themselves, they will only be able to place wagers if they are 21 years old or older. Anyone involved in a sporting match that has odds associated with it will also be prohibited from making bets and can expect a misdemeanor charge if they do.

However, unlike certain states with legal sports betting, online sportsbooks will be able to provide odds for collegiate sports teams based out of Tennessee as well as across the nation. Professional sports teams from every major league around the US will also be a wagering option for users of these sites.

In order to oversee the new industry, the Tennessee Lottery Commission will create a nine-member commission within the agency to ensure that all regulations and rules are met.

News tags: sports betting | Tennessee | TN SB 16