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Sports Wagering Council highlights compliance work, illegal‑book enforcement and tax distribution to education and local governments
Summary
The Tennessee Sports Wagering Council told the Finance committee it has focused on licensing, technical and financial audits, and shutting down illegal offshore sportsbooks; the council outlined how the privilege tax on wagers is calculated and distributed and said operating costs are covered by licensure fees rather than tax proceeds.
Director Thomas of the Tennessee Sports Wagering Council briefed the Finance, Ways and Means Committee on the council’s regulatory and enforcement work as the state’s sports wagering industry enters its fourth year.
Thomas said the council’s primary functions are licensing and registration, compliance oversight (including geolocation and age/identity verification checks), and investigations and enforcement. She told members the council conducts technical and financial audits to confirm that sportsbooks comply with state rules on geolocation, age verification, anti‑money‑laundering and payment methods (Tennessee law prohibits use of credit cards for wagering). She said the…
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