• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Colorado
    • Illinois
    • Indiana
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • New Jersey
    • New York
    • North Carolina
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel Sportsbook Promo Code
    • BetMGM Bonus Code
    • Bet365 Bonus Code
    • Caesars Sportsbook Promo Code
    • ESPN BET Promo Code
    • Fanatics Sportsbook Promo Code
    • BetRivers Promo Code
  • 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
    • Colorado
    • Illinois
    • Indiana
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • New Jersey
    • New York
    • North Carolina
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel Sportsbook Promo Code
    • BetMGM Bonus Code
    • Bet365 Bonus Code
    • Caesars Sportsbook Promo Code
    • ESPN BET Promo Code
    • Fanatics Sportsbook Promo Code
    • BetRivers Promo Code
  • 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

Tennessee Takes Another Small Step Toward Sports Betting Launch

State education lottery issues RFP for company to vet potential operators

Jill R. Dorson by Jill R. Dorson
September 18, 2019
in Regulation
(Shutterstock)

(Shutterstock)

Share on FacebookShare on Twitter

The Tennessee Education Lottery last week took another small step toward implementing legal Tennessee sports betting when it issued a Request for Proposal for a company to vet potential sports betting operators. The RFP was issued Sept. 11 and bids are due by Thursday, Sept. 26. The chosen company will assist the Lottery in “assessing the financial stability” of any company that bids for and potentially applies for a sports betting license.

The Tennessee legislature passed mobile-only sports betting in April, and it became law about a month later. Governor Bill Lee declined to sign the bill, but didn’t veto it, which means it later became law. Since then, the state has taken small steps toward a launch, which at this point looks to be coming in the second half of 2020 or later.

Tennessee has no casinos or gaming other than a lottery, and as such is starting from scratch with regard to sports betting. In recent weeks, five people were appointed to the commission that will “enforce and supervise” sports betting.

TN moving slowly, deliberately

The latest action appears to show an extra layer of caution from the Tennessee Education Lottery. Most states vet potential vendors on their own. The RFP does not indicate when a vendor will be selected. The Lottery currently has a “Request for Application” available on its website for sports betting operators interested in setting up shop in Tennessee. Companies that fill out the application will be notified when the state begins seeking operators.

Among the key points in the current RFP:

  • The selected company must vet each potential operator within 60 days of receiving said company’s financials;
  • Potential operators will need to supply the last three years worth of audited financial statements, most recent annual and quarterly regulatory filings, bank statements and tax returns and reports to governmental agencies for the financial stability company to review; and
  • The selected company must assess a potential operator’s “financial strength.”

Companies bidding on the current RFP must provide proposed compensation, an outline of how it will determine financial strength, and a sample report, among other documents.

Will @BWWings become a destination for bettors in Tennessee? With mobile-only #SportsBetting and no retail casinos in the state, it looks to be that way.

By @brianpempus for @TN_Bets #SportsBiz https://t.co/CKZD9SkThw

— US Bets (@US_Bets) September 11, 2019

Sign Up For The Sports Handle Newsletter!
I also want to receive information and offers about online sportsbooks (eg. odds boost, welcome offers)

 

20% tax and data mandate

Tennessee’s new law, which went into effect on July 1, calls for a 20 percent tax rate on adjusted sports betting gross revenue and is the first in the nation to mandate the use of official league data, before Illinois became the second to do so later in the summer. The law does allow for betting on professional and college sports, though in-play prop bets on college sports is prohibited. Patrons must be 21 years or older to wager and the TEL, via it’s new committee, will be the regulator.

Tennessee has eight border states and so far, two of them — Arkansas and Mississippi — have live, legal sports betting. georgia, Kentucky, Missouri, North Carolina and Virginia have all considered sports betting since the Professional and Amateur Sports Protection Act was struck down by the Supreme Court in May 2018. Of those five, Kentucky looks to be a decent candidate to legalize in 2020.

So far, Tennessee is the only state in the nation to legalize mobile-only sports betting.

ShareTweetShare
Jill R. Dorson

Jill R. Dorson

Jill has covered everything from steeplechase to the NFL and then some during a more than 30-year career in sports journalism. The highlight of her career was covering Oakland Raiders during the Charles Woodson/Jon Gruden era, including the infamous “Snow Bowl” and the Raiders’ 2003 trip to Super Bowl XXXVII. Her specialty these days is covering sports betting legislation across the country. You can reach Jill at [email protected]

This site contains commercial content. We may be compensated for the links provided on this page. The content on this page is for informational purposes only.

Related Posts

tennessee statehouse
Features

ZenSports To Offer Cash-Back Rewards To Tennessee Sports Bettors

May 24, 2023
Getty Images
Industry

Fanatics Sportsbook Offering Bonus Bets To Fanatics Merchandise Customers

May 18, 2023
Load More

Top Stories

system error

Schuetz: Palpable Errors In Sports Betting, And The Palpably Bad Decisions That Follow

September 25, 2023
churchill downs betting

Two Of Seven Platforms In Kentucky Will Allow Betting At Age 18 Starting Thursday

September 25, 2023
Getty Images

Will Prohibet Provide One-Stop Shopping For Detection Of Sports Betting Infractions?

September 14, 2023
have-a-game-plan-bet-responsibly-screenshot

Bettors Know All About Responsible Gambling, But Most Don’t Use Tools

September 12, 2023

State Sports Betting Guides

Sports Betting in Kentucky

Kentucky Sports Betting – Pre-Launch Offers & Best Legal Sportsbook Apps for 2023

by Dukes Wooters
September 22, 2023

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 – All Online Sportsbooks, Bonus Offers, and News 2023

by Brian Pempus
September 26, 2023

Downtown Detroit at twilight (Shutterstock)

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

by Brett Smiley
September 6, 2023

VA captial

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

by Brett Smiley
September 1, 2023

nj flag

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

by Brett Smiley
September 6, 2023

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps 2023

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
  • Lottery
  • 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 © 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
    • Colorado
    • Illinois
    • Indiana
    • Kentucky
    • Louisiana
    • Maryland
    • Massachusetts
    • Michigan
    • New Jersey
    • New York
    • North Carolina
    • Ohio
    • Pennsylvania
    • Tennessee
    • Virginia
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel Sportsbook Promo Code
    • BetMGM Bonus Code
    • Bet365 Bonus Code
    • Caesars Sportsbook Promo Code
    • ESPN BET Promo Code
    • Fanatics Sportsbook Promo Code
    • BetRivers Promo Code
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News