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What this clause comes back to is that tax-paying legal sportsbooks would be put on unequal footing with those operating illegally. It would create a system where the same parlay wager that would be a win at an illegal book would be a loss at a legal one.
While the number of legal betting markets in America continues to grow, illegal channels are as accessible as ever. Ultimately, consumers will bet where they feel they have the best chance of winning. They will not bet where the odds are stacked against them. Of course, the percent clause is a clue. It points to the notion that outcomes as a whole are predetermined, like lottery ball drawings or scratch-off tickets, which use fixed prize structures.
The House win percentage in those games is decided and known before tickets are sold or balls drawn. There is not a month or a Sunday where the Lottery gets crushed by the patrons, as sportsbooks do from time to time. Remember, these draft regulations originated with a lottery entity. Did the Lottery have itself as a sole-source and its longstanding, existing vendor, IGT, in mind when establishing such a premise? The hiring of Roberts, given her experience and reputation, was received by many as a very good sign.
However industry sources speaking on the condition of anonymity told TNBets that Hargrove has proven challenging to work with over the years, and has shunned some applicants or prospective licensees and vendors seeking meetings with the TELC to discuss the sports wagering opportunity. It ran an RFP process and ultimately chose just one: DraftKings, which promised the highest percentage of revenue to the state.
The TELC is likely to receive a healthy number of comments on the aforementioned clauses from a variety of in-state stakeholders, suppliers, sports leagues, national operators, bettors wanting access to a fair, legal market, and others. But no provisions or potential political dynamics as a whole are more threatening to the consumer and the industry than the three items discussed above.
Who has a say? Well, anyone reading this. Roberts on social media has encouraged people to submit comments, adding that they will be carefully reviewed and considered. I would strongly encourage comments on the proposed regulations be submitted through the public comment portal. These comments are being reviewed and considered. Who also has some say? The next meeting for council is set Jan. The period to submit comments on the draft regulations ends on Dec. According to the TN Lottery website, the comment period has been extended and will now close at p.
Hopes for a very promising, competitive market have fallen under a cloud of concern and uncertainty as TN sports betting rules and regulations advance. Brett Smiley Published: Dec 19, Share on facebook Facebook. Share on twitter Twitter. Share on email Email.
Not a great bet, yet still a fan favorite. Update, Friday Dec. He focuses on the sports betting industry and legislation. He's an avid sports bettor himself, mainly on NFL and college basketball contests. November 15, Most Read. Read more. Offers Matt Tenby - February 3, 0. Not an expert but asks a lot of the right questions. We look at who the popular NFL experts are betting on in Week Green Bay Packers The model has the Packers as Tampa Bay Bucaneers Pittsburgh Steelers Latest Offers.
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