Lawmakers in Tennessee have sent the governor a bill to legalize online sports betting.
On Tuesday, 30th April 2019, a huge step forward was taken toward sports betting by the state of Tennessee with the House passing its bill.
The legislation cleared the Senate by a 19-12 vote while the House passed it 58-37.
The legislation will see the Volunteer State being the first state in the country with a mobile-only sports betting law. All other states have either passed a bill that has not yet been implemented, kicked off sports betting, allowed retail and, in a few cases, mobile. Tennessee will not have kiosks anywhere.
After at first considering up to 50 retail sports wagering locations, the state later gave up that idea.
Although a few mild changes were made to the bill while in the Senate, it is unlikely that there will be any glitches getting the bill to the desk of Gov. Bill Lee, a Republican whose signature should come by the end of this month, at the latest.
Tennessee is endeavoring to have a sports betting market worth almost $150 mm each year in taxable revenues which is based off approximately $3 billion in handle. Sports betting would be taxed at more or less 20 per cent by Tennessee.
The sports betting plan calls for regulation under the 15-year-old state lottery, which will, no doubt, give Gov. Lee some reassurance after he appeared to be concerned about state-sanctioned gambling of any kind. In Lee’s opinion, this would lead to organized crime.