Tennessee Sports Gaming Act to Legalize Betting

After the Supreme Court overturned the federal ban on sports betting last year, industry experts speculate that several state legislation will follow. With this in mind, lawmakers from the Volunteer State are trying to pass the Tennessee Sports Gaming Act.

The proposed bill will allow local governments to choose if they want to offer sports gambling in their area. Once approved, local governments must legalize sports betting in their jurisdiction if 10 percent of their residents ask for it through a vote.

State Representative Rick Staples (D) filed the bill. Insiders expect the bill to pass the state congress. In addition, State Senator Brian Kelsey (R) is working on a version for the upper house.    

Proposed Tennessee Sports Gaming Act

According to Senator Kelsey, it is important for locals to have control over where to offer sports betting. In addition, the act will allow local governments to collect revenue from sports betting locations.

One of the goals of the proposed Tennessee Sports Gaming Act is to provide additional revenue to the state. As a matter of fact, the government will use the earnings to fund public utilities. Rep. Stables told gambling industry news outlets that billions of gambling revenues leave Tennessee to neighboring states. They should take advantage of the new revenue source.

Once the bill becomes law, 40 percent of taxes from pay per head bookie providers and other gambling operations will go to a state fund. 30 percent goes to tech and community colleges. Lastly, 30 percent goes to infrastructure projects and local schools.

The bill also proposes the creation of a gaming commission that will work with the Tennessee Bureau of Investigation. Its role is to supervise sports betting operations in the state. As a matter of fact, Tennessee is a lucrative market for betting because of its sports teams. The state congress will discuss both the bills when it reconvenes on January 8.