Tennessee Slowly Working Through Sports Betting Regulations

Tennessee Slowly Working Through Sports Betting Regulations

Tennessee doesn’t appear much closer to the debut of its mobile-only sports betting industry, but in a meeting this week the Tennessee Lottery and the group tasked with setting rules appeared to make progress on key issues.

Chief among them, according to The Associated Press, was a general agreement Tuesday among the Sports Wagering Advisory Council that the annual payout cap to bettors would be changed to something near 95% instead of the counter-productive 85% figure in an initial set of proposals. The 95% figure would apparently be assessed on a three-year sample.

Sports betting program director Jennifer Roberts, according to the AP, proposed no cap so Tennessee can be “fully competitive with the illegal market.”

RELATED: Why Tennessee Could be a Success

Tennessee’s process has been complicated because the state has previously had no gaming industry from which to draw expertise. The outpouring of opinion during its initial comment period made the state a sort of laboratory for regulation and a cause from national gaming stakeholders. Regulators in Tennessee appear to be making progress after early stumbles. Read more about Tennessee gambling here.

Rules would still require Lottery Board approval and input from the legislature. A follow-up meeting has yet to be scheduled.

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