• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Read Official Recap Of Comments On Controversial TN Sports Betting Draft Rules

'Follow Nevada rules to get it right'

Brett Smiley by Brett Smiley
January 14, 2020
in Regulation
tn sportsbooks hearing

Tennessee Capitol Building (Shutterstock)

Share on FacebookShare on Twitter

Following the extension of the public comment period on the draft Tennessee sports betting regulations until Jan. 6, a recap of the comments was published on Tuesday, coinciding with a Sports Wagering Advisory Council meeting. While the Tennessee Education Lottery Corporation (TELC) summarized the comments in 323 separate points, the two issues that by far yielded the most attention and concern: a rule that would cap payouts from operators to sports bettors at 85 percent, and a rule that would classify a β€œpush” or tie as a loss in a parlay wager.

Those comments — 37 total on the capped payout and 60 on the parlay proposal — were noted as requests and directives in the TELC’s summary as follows:

300. 85% payout percentage would drive those to illegal market and outside of all U.S. Markets (refer to Eilers report)

301. Remove restriction that a push is a loss

The 323 points cover the gamut — from consumer-focused concerns, overarching sentiments, notes about deposit and withdrawal methods, the tax rate (“20% tax rate is absurd”), requests for clarification of various terms, plus dozens of questions about licensure and corresponding fees, restrictions and applicability.

TNΒ  sports betting draft regs yield broad feedback, criticisms

Summary-Public_Comments-TN_Draft_Rules_and_Regulations (1)

The identities of the parties who submitted comments is not indicated anywhere in the document, and it does not appear that the TELC will release the complete dossier of public comments.Β Β 

Here are some comments of note from the document– a combination of unique entries or subjects receiving 10 or more responses.Β 

 

3. Follow Nevada rules to get it right

6. What is the business plan of the TEL and its Board? Regulatory system need to have full transparency

40. Exclude fantasy sports from definition of bet or wager (or as separate provision)

53. Clarify how approval of sporting events upon which wagers can be made is obtained, how frequently, and what are the circumstances for not giving approval

81. Requirement to use official league data should be removed because it is detrimental to operators, there is no evidence that provides substantial advantage, and hinders competition

91. Lower license fees, especially for start-ups since high fees create monopoly, discourages competition, and jeopardizes market

61. Delete restriction on occurrences determinable by one person or play (would prohibit wagers on tennis, golf, auto racing, MMA)

62. Remove requirement for membership if Global Lottery Monitoring System or expand to allow other integrity organizations more common in U.S. markets like SWIMA

198. Player association support payment of royalty fee

200. 20% tax rate is absurd

234. Many advertising restrictions are vague and burdensome

238. 30 days for advertising review is not realistic (other models can provide guidance)[proposed language provided]

240. Add 1-800-GAMBLER or other approved helpline number or message

275. Remove requirement on minimum and maximum wagers or have operators set

282. What is the process for player complaints?

300. 85% payout percentage would drive those to illegal market and outside of all U.S. Markets (refer to Eilers report)

301. Allow prop bets and futures to be parlayed

302. Allow event outcomes that are directly connected to be parlayed

303. Remove restriction that a push is a loss

305. Allow wagers on non-sports related events

In a preamble to the summary of comments, the TELC writes that “the public comment period provided the TEL with valuable feedback from potential players and operators as well as other stakeholders,” adding “all comments are currently under review.”

It’s not exactly clear what that review entails, or how much influence the nine-member appointed council will have on the final regulations that get implemented.Β 

During Tuesday’s meeting, it was announced that the TELC plans to finalize the rules within the next four weeks.

Tennessee is effectively starting from scratch on legal sports betting as a state where legal gambling has consisted only of a state lottery — and no casinos or tracks or gambling facilities of any kind.Β 

Frequent reference was made throughout the comment summary to the booming sports betting markets in Nevada and New Jersey, the latter of which on Tuesday reported a monthly betting handle in December of $557.8 million, just $5 million shy of the previous monthly record set one month earlier.Β 

Reads one other summary note: β€œTEL should publish monthly revenue reports like Nevada, NJ, and other states for transparency.”

 

Click here for a full report about the Jan. 14 Sports Wagering Advisory Council Meeting.

ShareTweetShare
Brett Smiley

Brett Smiley

Brett Smiley is editor-in-chief and co-founder of Sports Handle, which joined forces with the US Bets team in November 2018. He focuses on the sports betting industry and legislation. He's a recreational sports bettor and DFS player himself, focusing on the NFL. In a past life, Smiley practiced commercial litigation in New York City and previously wrote for FOX Sports and SI.com. He lives in New Jersey with his family.

Related Posts

FanDuel Massachusetts promo code graphic with Huskies player Donovan Clingan.
Promotions

FanDuel Promo Code in Massachusetts: Grab $200 in MA, $1K No Sweat Bet in Other States

March 25, 2023
bet365 bonus code graphic with Cougars player Marcus Sasser.
Promotions

bet365 Bonus Code NJMAX Unlocks $365 in Eligible All States this Weekend

March 25, 2023
Load More

Top Stories

taylor mathis

Taylor Mathis Got Sacrificed At The Altar Of Responsible Gambling

March 20, 2023
fanduel baseball wall

Premade Same Game Parlays Are Sucker Bets

March 13, 2023
maginfier-over-small-print

Read The Fine Print: A Proposed Federal Rule Could Change Everything For Indian Gaming

March 6, 2023
roman reigns wwe

Colorado Denies Report Stating That It’s Considering WWE Wagering

March 8, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
March 24, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 24, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

SportsHandle

  • Analysis
  • Casino
  • Features
  • Horse Racing
  • Industry
  • Legal
  • Legislation
  • Opinion
  • Podcasts
  • Poker
  • Politics
  • Promotions
  • Regulation
  • Sports
  • Uncategorized

Better Collective

This website is owned and operated by Better Collective USA. Trademarks and copyrights referenced on this website are and shall remain the exclusive property of their respective owners and/or licensors. Please be sure to visit the operator’s website(s) to review their terms & conditions. We advise you to read these carefully as they contain important information. Copyright Β© 2023 USBets.com | Better Collective USA
21 Play Responsibly
Gamble Aware West Virginia
Gambling Problem? Call 1-800-Gambler.
GameSense

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...