NASHVILLE, Tenn. (WKRN) — Online sports betting is a multimillion dollar business, and every state regulates the industry in its own way. But what is Tennessee is doing well and what could still see improvement in the fast-growing world of online sports betting?

In the high-stakes gambling business, sports betting appears to have a good hand, specifically online sports betting. It's picking up steam across the U.S. and now legal in more than half the states with each state is regulating this new industry in its own way. 

"We want every Tennessean who chooses to wager to know that they are doing it in the safest environment possible, and that's our job to make sure we are enforcing those consumer protection provisions," explained Mary Beth Thomas, executive director at the Tennessee Sports Wagering Council

Thomas is the first executive director of the Tennessee Sports Wagering Council (SWC), an agency within state government. In four years, she has built a staff of 20, including former law enforcement, attorneys and data analysts. 

There is also a board. State lawmakers appoint two-thirds of the members while the governor appoints one-third. 

"We are fortunate and pretty unique that we are a standalone state agency that regulates sports betting and fantasy sports only. It's allowed us to really understand our industry," said Thomas. 

When the state created the sports wagering council with a new 2021 law, they gave it three key functions — licensing, compliance and investigation. 

"We really started focusing on licensing, because there were a lot of entities that really wanted to get into this space," said Thomas. 

If a new sportsbook wishes to operate in Tennessee, the SWC has 90 days to approve or deny its license. Before approving, staff investigate sportsbooks for discipline issues in other states, investigates its personnel and the platform's security measures. 

"We have to understand how their tech platform works. And we have, fortunately, some really great tech experts here who can do that," said Thomas. 

Right now, the SWC devotes a large amount of time ensuring sportsbooks are complying with advertising rules, and identity checks, while also investigating illegal offshore sportsbooks trying to operate under the radar in the U.S.

"We have had to be very creative about the ways that we investigate them and initiate disciplinary action," said Thomas. 

The National Council for Problem Gambling tracks how states are rolling out online sports betting and ranks them, too.  

"You're doing better than most, but there's certainly room for growth," said Cait Huble, communications director at NCPG. 

Huble explained Tennessee meets about half of its 82 safe gambling standards, which puts it in the top tier among states. In its 2024 report, Tennessee got positive marks for limiting betting to those 21 and older, and allowing players time and wager limits. But, as this new industry continues to bring revenue into state coffers, Huble would like to see lawmakers commit more money toward fighting gambling addiction. 

"One of the improvements that Tennessee could make certainly is to dedicate a higher portion of their funding toward problem gambling services," said Huble. 

The SWC highly recommends all players read the fine print before placing a bet; that wager is a contract between you and the sportsbook. 

News Source : https://www.wkrn.com/special-reports/tn-sports-betting-rules-sports-wagering-council/