Sportsbetting bill filed in Tennessee

Tennessee democrat Rick Staples has filed HB0001 for the new legislative session beginning next week.

The introduction of the draft Bill authorises both online and land-based sports betting only in State jurisdictions that approve the measure through a local referendum.

The bill imposes a 10 percent tax on gaming revenue, of which 40 percent would be distributed to a fund for general appropriations, 30 percent to Tennessee colleges of applied technologies and community colleges for equipment and capital projects, and 30 percent to local governments for education and infrastructure.

A Tennessee Gaming Commission would be established to regulate sports betting which would work hand-in-hand with the Tennessee bureau of investigation for purposes of enforcement.

“Billions of dollars leave the state of Tennessee to our neighbouring states with casino and table gambling,” Staples said. “So, this is a new stream of revenue that the federal government is allowing the states to take advantage of.”

Observers note that Bill Lee, the new State Governor elect, opposes sports betting saying on his last campaign trail that gambling was not consistent with the values of the State of Tennessee.

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