Tennessee will make online sports betting legal and tax the operators of betting websites, as Gov. Bill Lee allowed the bill to become law without his signature.
H.B. 1 creates licensing requirements and imposes a 20 percent privilege tax on operators of sports betting websites and apps, plus annual registration fees. The governor returned the bill to the Legislature May 24 without signing or vetoing.
The new law applies to betting on professional and amateur sporting events, including college sports. The law takes effect July 1 but awaits a state commission that must create rules to implement it.
Lee, a ...
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