Tennessee Legislature Passes Online Sports Betting Bill
The Tennessee Legislature has approved the online sports betting bill and send it to the desk of Gov. Bill Lee. Lee, who opposes the measure, has said he will let it become law without his signature.
“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. He plans to let this become law without his signature,” Laine Arnold, Lee’s press secretary said.
The bill allows online sports betting and requires bettors to be physically present in Tennessee to wager. No brick-and-mortar locations will be permitted to host sports betting.
The bill prohibits anyone under age 21 from casting a bet, as well as athletes and owners of a team involved in a game; people who run sports betting operations; and others with influence over a game’s outcome.
Taxes on the online betting is expected to bring in as much as $50 million per year to the state, with revenues going towards education, local government and gambling addiction treatment.