On Friday, Tennessee Lottery unveiled its draft proposal on sports betting regulations-the first step of the state towards legalizing sports betting. The prosed draft is different from other states; it calls for the legalization of online betting without requiring a retail sportsbook.
The proposal was released after Sports Wagering Advisory Council met in Nashville. The public has 30 days to comment or propose changes before the regulations are enacted. The council is scheduled to meet again on 14th January.
Casino.org reported that Tennessee Lottery has hired a Nevada based gaming attorney Jennifer Roberts to oversee the sports betting regulations on their behalf. Roberts runs her law firm in Las Vegas and is also an associate director of UNLV International Center for Gaming Regulation.
Although Tennessee has a progressive sports betting idea, it is confident that the licensing application won’t start soon. Regulations have to be approved by lawmakers who introduced sports betting legislation in the state. According to Casino.org, the app might open in spring next year.
No Need to Rush
State Rep. Rick Staples hoped that sports betting would be available for mobile apps by January, but the procedure of vetting applicants has taken time. The first bets might be placed starting in April. Tennessee seeks a road not accepted by any other state-a traditional non-gaming state venturing into online-only betting.
Tennessee law does not limit the number of applicants of sports betting apps the lottery can approve, but the law requires that each applicant pay a licensing fee of $750,000 to run in the state. The state will also require apps operators to pay 20 percent of gross gaming revenue from each app.
Draft Rules On Live Gaming
In Tennessee, all sportsbooks are required to use official league data to provide live gaming. Thus, operators will need to partner with the leagues or acquire the right to use data. However, the draft exempts the situation where the league can’t offer data at reasonable terms.
The draft also prohibits live gaming for college sports events. The law will not even permit future bets such as betting on a team to win a cup. Comments and proposals for changes are required to be submitted before 23rd December.
