It’s been five years since Tennessee lawmakers rolled the dice and passed a bill legalizing online sports wagering, and since then, more than $13 billion gross wagers have been made with nearly $240 million of that money going back into the state.
Before the law passed making sports betting legal, lawmakers said an estimated $3 billion was being illegally wagered in the state. The law legalizing sports wagering established protections for consumers and a way for Tennessee to cash in on sports entertainment.
“We already have billions of dollars that leave the state going to other states that have casino gambling, so here’s a chance to do in-state sports betting that would capture dollars,” Rep. Rick Staples, (D-Knoxville) told News 2 in late 2018.
