Tennessee is just one step away from legalizing sports betting within its borders. This is because the sports gambling bill was just given the approval of the House. Thus, sports betting fans may soon be able to visit a sportsbook in Tennessee to bet on their favorite team.
However, before sport betting becomes legal in Tennessee, the bill still needs to pass through the Senate for further review. If it does pass then it will end up in front of the governor’s desk for his signature.
According to Sportsbook Pay Per Head news, the sports betting bill made it pass the House with a 9-2 approval. Such a high vote for the bill means that it has a good chance to make it pass the House. Supporters of the bill hope that with this much backing, it will pass before the legislative ends on May 15.
Details of the Tennessee Sports Gambling Bill
Tennessee is an unusual place to have legal sports betting in comparison to other states. This is because it does not have any casinos. Thus, Tennessee does not have any gambling venues available to host a sportsbook.
Instead, lawmakers in Tennessee have found a different solution to profit from legal sports betting. This involves limiting sports betting to mobile devices which will make online sportsbooks legal. Thus, it would make Tennessee the first state to limit sports betting to the internet.
Furthermore, online sports gambling would be overseen by the Tennessee Lottery Commission. The state expects to make money by taxing sportsbooks at a rate of 22.5%. According to gambling analysts, they expect to make around $150 million in taxes per year.
Sportsbook proponents are still uncertain whether Governor Bill Lee of Tennessee is in favor of sports betting. However, last March one of his spokesperson said that he is willing to “work with lawmakers” to improve the economy and social health of the state. Thus, he is willing to work with them even if it is something he does not personally support.
If the gambling bill becomes law, it will be a great opportunity for individuals to become a bookie with ease. This is because of Sportsbook pay per head services which allow anyone to open a sportbook at an affordable price.
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