Tennessee Reveals Draft Sports Betting Regulations

Tennessee Reveals Draft Sports Betting Regulations

Tennessee has moved a step forward to launch sports betting. The state released draft sports betting ruled and is soliciting public comments.

The members of the public are able to comment and advise and raise their concerns about the draft sports betting rules until December 20.

Earlier this year in May Tennessee’s Governor Bill signed the bill legalizing sports betting. Currently, Tennessee doesn’t have any casinos, as such, sports betting operations will be launched online and at dedicated sports betting kiosks.

According to the new regulations, it is told that “advertisements shall not be placed with such intensity and frequency that they represent saturation of that medium or become excessive.”

The rule make provisions for three types of betting licenses. While a level I license would cost $75,000 a level II license would cost the same but would require companies to provide “geolocation services, sports wagering equipment, software, systems, data, global risk management services, patron accounts management systems, payment processors or services that are material to the conducting of on-line interactive sports wagering.”

A level III license will be required for a person who “provides services that are not material” to sports betting. These will cost $7,500 annually and the Tennessee Lottery will decide what services are considered “material.”

Tennessee is also the only US state to legalize online-only sports betting and the fourth to legalize sports betting in 2019.

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