Tennessee approves USA’s first online-only sports betting laws
- By: Michael Maguire
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Tennessee has joined the US betting boom by legalising gambling on sporting events.
The Tennessee Sports Gaming Act passed into law a few days ago after Governor Bill Lee returned it to the General Assembly without his signature.
The Republican representative has made no secret of his philosophical objection to gambling, but he decided not to block the legislation after lawmakers adopted certain compromises.
Tennessee is the first US state to restrict sports betting to online and mobile operators, as it has no land-based casinos or wagering retailers.
Gambling operators are required to pay a $750,000 licence fee every year as well as 20 per cent tax on revenue from sports bets.
Those rates are much higher than the national standard, mainly because Tennessee sportsbooks will be standalone operations rather than additions to existing licensed casinos.
Betting operators must use official data from sporting leagues for the purpose of in-play wagers, while leagues will also have the power to veto certain bet types.
Tennessee joins Mississippi as one of only two states in the American south to approve regulated sports betting, with licensed sportsbooks to commence operations from July 1 this year.
