Tennessee Sports Betting Rules Include Controversial, Novel ‘Payout Cap’
by Jill R. Dorson
The Tennessee Education Lottery Corporation Board of Directors in a telephone conference on Wednesday unanimously approved final TN sports betting rules, and in doing so became the first jurisdiction in the U.S. to stipulate how much money legal sportsbook operators may pay out overall on total bets taken. The board has been mulling this provision for months and finally agreed on a 90% cap, or put another way, sportsbooks must “hold” or keep at least 10% of all wagers annually. The concern is that downstream impact on bettors and the impact on the way sportsbooks typically do business.
You can read the rest of the article here