Understanding Sports Betting Laws in Tennessee

1. UnderstandingSportsBettingLawsinTennessee • Thelegalizationofsportsbettinghastransformedthelandscapeofgamblingacross theUnited States, andTennesseeis no exception.SinceNovember2019,whenonlinesports betting officially becamelegalinthestate,Tennesseans haveembracedthisnewopportunitywith enthusiasm.However,forbothseasonedbettorsandnewcomers,understandingthespecific lawsandregulationsgoverningsportsbettinginTennesseeiscrucial.Thisguideprovidesanin- depthlookatthesportsbettinglawsinTennessee,withafocusonhowplatformslike Action247, aleadingSportsBookTN,operatewithinthislegalframework. • The LegalizationofSports Betting inTennessee • Tennesseemadehistory bybecomingthefirststatetolegalizeonline-only sportsbetting.This meansthatunlikemany otherstates,Tennesseedoesnothave anyphysical sportsbooks;all bettingactivities areconductedonline.Thedecisionto adoptanonline-onlymodelwas influenced bythepotential forhighertax revenues andtheconvenienceitofferstobettors. • TheTennesseeSportsGamingAct,passedbythestatelegislatureandsignedintolaw by GovernorBillLee,laidthegroundwork forthelegalizationofsportsbetting.Thelawcameinto effectonJuly 1,2019,andthefirstonlinesportsbookswentliveinNovemberofthesameyear. • RegulatoryAuthority:TennesseeEducationLotteryCorporation(TELC) • TheTennesseeEducationLotteryCorporation(TELC)istheregulatorybodyresponsiblefor overseeingallsportsbettingactivitiesinthestate.TELCensuresthatsportsbooksadhereto stringentguidelinesdesignedtoprotectconsumersandmaintaintheintegrity ofthebetting market.Thekey responsibilitiesofTELCinclude: • Licensing:TELCissueslicensestoonlinesportsbooksthatmeettheregulatory requirements.Operatorsmustundergoathoroughvettingprocess,including backgroundchecks andfinancialreviews, to obtaina license. • Monitoring:TELCcontinuouslymonitorstheactivitiesoflicensedsportsbookstoensure compliancewithstatelawsandregulations. • ConsumerProtection:TELCimplements measurestoprotectbettors,including • responsiblegamblinginitiativesanddisputeresolutionmechanisms. • LicensingRequirementsfor Sportsbooks • TooperatelegallyinTennessee,sportsbooksmustmeetseveral stringentrequirements: • 1.Application andFees:Sportsbooksmustsubmit adetailedapplicationandpayanon- refundableapplicationfee.Theinitiallicensingfeeissetat$750,000,withannual renewalscostingthe same amount.

2. Geolocation:AllbettingactivitiesmustoccurwithinTennessee'sborders.Sportsbooks use geolocationtechnologytoensurethatbets areplaced fromwithinthestate. • Security andIntegrity:Operatorsmustimplementrobustsecuritymeasurestoprotect userdataandensuretheintegrity ofthebettingprocess. • ResponsibleGambling:Sportsbooksarerequiredtopromoteresponsiblegambling • andprovideresourcesforindividualswhomayneedhelpwithproblem gambling. • TaxationandRevenue • Tennesseeimposes a20% taxontheadjustedgrossincome(AGI)ofsportsbooks.This tax rate isoneofthehighestinthecountryandcontributessignificantlytostaterevenues.Thefunds generatedfrom sportsbettingtaxesareusedtosupporteducation,infrastructure,andother stateprograms. • LegalBettingAge • InTennessee,thelegalageforsportsbettingis21.Sportsbooks mustverifytheageoftheir usersthrougharigorousidentificationprocesstoensurecompliancewiththisrequirement. • TypesofBets Allowed • Tennesseelaw permits awiderangeofbettingoptions,including: • MoneylineBets:Betsontheoutcome ofa game. • Point Spreads: Bets onthemarginofvictory. • Totals (Over/Under):Bets onthetotalnumberofpointsscoredinagame. • Parlays:Combinationofmultiplebets intoone. • Prop Bets:Betsonspecific occurrenceswithinagame. • Futures:Betsontheoutcomeoffutureevents,suchas seasonchampions. • RestrictionsandProhibitedBets • WhileTennesseeallows abroadspectrumofbettingoptions,therearecertainrestrictionsin place to maintaintheintegrityofsports: • CollegeSports:Bettingonindividualplayerperformancesincollegesportsis prohibited. • In-GamePropBets:Certainin-gamepropbets,suchas thoserelatedtoinjuries,are not allowed. • WhyChooseAction247? • AsoneoftheleadingsportsbooksinTennessee,Action247stands outforseveralreasons:

3. LocalExpertise:AsaTennessee-basedsportsbook,Action247understandsthelocal market andoffersa tailoredexperienceforTennesseebettors. User-Friendly Platform:Action247’splatformisdesignedforeaseofuse,makingit accessible to bothnoviceandexperiencedbettors. CompetitiveOdds:Action247providescompetitiveodds,ensuringthatbettors getthe bestvaluefor theirmoney. ExceptionalCustomerService:Action247isknown foritsexcellentcustomersupport, addressinganyissuesorqueries promptlyandefficiently. ExcitingPromotions:Regularbonuses andpromotionskeepthebettingexperience freshandrewarding. ResponsibleGambling Action247is committedtopromotingresponsiblegambling.Theplatformoffersvarioustools andresourcestohelpbettorsmanagetheirbettingactivities,includingself-exclusionoptions andlinks tosupportorganizations.Ensuringthatbettingremains afunandenjoyableactivityis atoppriority forAction247. BetwithAction247Sportsbook Understandingthesportsbettinglaws inTennesseeisessential forasafeandenjoyablebetting experience.Thestate'slegal framework,overseenbyTELC,ensuresasecureenvironmentfor onlinesportsbetting.PlatformslikeAction247operatewithintheseregulations,offeringbettors areliableanduser-friendly platform. ReadytojointheexcitementofonlinesportsbettinginTennessee?BetwithAction247,the leadingSports BookTN, andenjoy aseamless andrewardingbettingexperience.Signup today andtakeadvantageofcompetitiveodds, excitingpromotions,andtop-notchcustomerservice. Getin on theactionwithAction247!