Tennessee greenlights online and mobile betting
Licenses to cost $750k and operators will have to pay a 20% privilege tax to fund local causes
The Tennessee State House has given online and mobile betting within the state the go ahead, with licences to cost $750,000.
The original bill permitted the establishment of retail sportsbooks but was amended to legalize online betting in the state instead.
State lottery monopoly, Tennessee Lottery Corp, will establish a commission to oversee licensing and to regulate the market.
The Tennessee State House just voted to legalize online sports gambling. If Senate passes it then governor will sign. Looks like Tennessee will have online sports gambling by football season.
— Clay Travis (@ClayTravis) April 24, 2019
State representative Rick Staples sponsored the bill and told the House yesterday that there were 10 operators already committed to launching in the state.
Operators will be taxed 20% of GGR as a privilege tax that will be invested back into the state via scholarship programs, local infrastructure, education, mental health and gambling addiction initiatives.
The bill will be considered by Senate on April 25.