Tennessee governor Bill Lee has given a nod for the state to finally legalize mobile and online sports betting. Apart from many states that are considering legal sports betting, Tennesse will be joining Iowa, West Virginia, Nevada, New Jersey, Delaware and Pennsylvania if the bill passes.
Interestingly, the governor could sign the bill himself, as it already passed the House of Representatives and the Senate. However, he does not believe the law to be necessary, although recognizes that this is a law many people want to pass. Therefore, it can come into force without his signature.
Tennesse is a casino-free state, which means that the sports betting will be relegated only to mobile and online. This is especially positive for online bookmakers that already operate in the US, such as DraftKings.
10% tax on profit from licensees will be required, according to the bill. Policymakers expect about $50m in taxation per year.