NASHVILLE, Tenn. – With the Tennessee Men’s Basketball team ranked first in the country, many in the state are betting on them to win the championship this year. However, legalized sports betting in Tennessee is still in the works with both Democrats and Republicans volunteering to make it happen.
Earlier this month, Republican Senator Steve Dickerson, introduced TN SB 1055 to the Senate floor. At the same time, Democrat House Representative Rick Staples presented TN HB 666 to the House. Together these bills are known as the “Sports Wagering for Stronger Schools Act”.
On Monday both bills were either assigned or referred to other respective subcommittees. Unlike previous bills, the tax revenue that would be collected from sports betting in Tennessee would go to K-12 schools instead of community and technical colleges.
The bill would still only have sports gambling held in cities that voted on it through a county-level voter referendum. It’s because of this compromise that members of both parties are eager to work together and are hopeful to bring their residents what they want.
Other Potential Sports Betting Legislation
Republicans and Democrats are also working towards clarifying more niche sports betting in Tennessee. Bills have been filed to legalize both horse racing in Memphis and office bracket pools state-wide.
TN SB 1057 and TN HB 1033, more commonly known as the “March Madness and Fantasy Football Freedom Act”, would allow for individually run office pools.
The only requirements are that the entry fee isn’t more than $25, the total handle doesn’t add up to be more than $1,000, and that the commissioner doesn’t take a cut from the end results.
While that would make many basketball fans in Knoxville happy, folks in Memphis have their eyes on other pieces of potential legislation. TN HB 1421 and TN SB 0817, known as the “Horse Racing Control Act of 2019”, would authorize the regulation of pari-mutuel wagering in their city.
Many Memphis residents drive over state lines to Mississippi in order to bet on horses, but this Act would help to keep that revenue in-state.
Will Any Of Them Actually Pan Out?
In order for any of these bills to pass they will need to be signed off by the governor. Although, Tennessee Governor Bill Lee spoke out against sports betting during his campaign run last year.
“I think that organized betting frequently develops into organized crime that we don’t need in our state.”
Tennessee law prohibits just about all forms of gambling. The only way to expand gaming is through a county level referendum, but that has happened twice before.
Each of these bills has seen motion in their respective departments this week, and with bipartisan support, many believe that legal sports betting in Tennessee may come later this year.