Across the United States, legislation involving sports betting is popping up in several states. Mississippi, West Virginia, New Jersey and Delaware are a few states that already offer sports betting thanks to quick legislation and launch dates. Now, other states are trying to end the year by progressing with their own legislation. As November began, Tennessee lawmakers announced their intentions for sports betting with a new bill.
On the 7th of November, Rick Staples, a Representative of Tennessee, introduced the Tennessee Sports Gaming Act, a bill that will legalize sports betting in the state. Within the language of the bill, it states that players participating in wagering on sports would have to be 21 years of age or older, and physically located within the borders of Tennessee to take part.
Sports betting operations would be taxed at 10% and a gaming commission would be created that would supervise operators, ensuring they stay in compliance with the laws and regulations of the state. Operators who apply to offer sports betting will have to pay a licensing fee of only $7,500. The fee is nonrefundable.
Despite efforts to see sports betting come to the state, efforts may be stalled rather quickly. The new governor, Republican Bill Lee, has said in the past that he would try to stop any legislation that incluces sports betting because the industry could lead to organized crime as well as impact low-income individuals in a negative manner.
In Tennessee, the state currently does not have any tribal run casinos, commercial gaming facilities or racetracks. Residents travel to neighboring states to take part in gaming and such states, like Mississippi, are offering all types of gambling including sports betting.
It will be interesting to see how the legislation develops and if Tennessee will be able to move forward and enter the gambling industry with sports betting services.
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