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Casino Sports Betting Rules

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They are:. IGC staff contacted peers in other states with sports betting to develop the rules package, as well as what sports are acceptable, Tait told the commissioners.

The regulations will be good for 90 days, and the IGC can extend them for another 90 days while commission staff work on drafting permanent regulations.

Tait told Casino. Tait said her office would continue working on approvals for the remaining sportsbooks, several of which have already announced their opening plans.

It will be re-branded as a Caesars casino. When the first bets are placed Sunday, Indiana will become the 13th state to allow sports betting, and the third in the last two-and-a-half weeks, as sportsbooks recently opened in both Iowa and Oregon.

The Hoosier State will join Iowa as the only Midwestern states taking legal wagers. Indiana will tax sportsbooks at 9. The regulations also take into consideration mobile sports betting, Tait said.

That will allow any decision to move forward and allow sportsbooks to release their applications to take place at a staff level, she said. Our hope is to go mobile, and then maybe have a mobile lounge, where you can use your mobile device inside and we provide the beer.

Last updated on: January 13, , h. The Tennessee State Lottery received more than comments on its draft regulations for sports betting.

Per the law state legislators passed last year , the Lottery is responsible for regulating sports betting. In November, it released the draft sports betting rules.

The deadline for comments was Jan. Of the comments, the two issues that received the most responses were a rule that requires sportsbooks to score a parlay bet that includes a tie as a loss and a proposal that would force sportsbooks to limit payouts to 85 percent.

The exact comments were not available on the web site, although the lottery said it expects them to be posted by Wednesday.

Other proposed rules that drew multiple comments were a call for a day review period for advertising, which critics called unrealistic, and a regulation against betting on personal performances that some fear could prohibit bets on individual sports, such as tennis and golf.

Eilers and Krejcik polled 12 unnamed operators, and eight said the hold requirement is making them reconsider operating a sports betting application in Tennessee.

When Tennessee lawmakers passed a sports betting law last year, it was initially heralded for its innovative approach. It became the first state to allow only online sports betting applications, eschewing brick-and-mortar retail sportsbooks.

However, after the lottery unveiled the draft regulations, bettors and gaming industry officials expressed concerns on social media about the parlay and payout cap proposals.

Some questioned the legality of a regulatory body setting a payout cap, saying the rule exceeds its authority. If enacted, the 15 percent requirement would likely lead to bettors in Tennessee seeing worse odds for sporting events than their counterparts in other states where sports betting is legal, or from those betting illegally, either from local bookies or offshore sportsbooks.

The firm forecasts that Tennessee could attract as many as 60 percent of those who bet on sports illegally in the state without the payout restriction.

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When the first bets are placed Sunday, Indiana will become the 13th state to allow sports betting, and the third in the last two-and-a-half weeks, as sportsbooks recently opened in both Iowa and Oregon.

The Hoosier State will join Iowa as the only Midwestern states taking legal wagers. Indiana will tax sportsbooks at 9.

The regulations also take into consideration mobile sports betting, Tait said. That will allow any decision to move forward and allow sportsbooks to release their applications to take place at a staff level, she said.

Our hope is to go mobile, and then maybe have a mobile lounge, where you can use your mobile device inside and we provide the beer.

Spectacle received approval from the IGC Wednesday to move its casinos from two Majestic Star riverboats in Gary to an inland location near an interstate highway.

The new casino is scheduled to open in December Name, email and comment will be stored in our database. News Sports Betting Share this:. No comments yet Write a comment Write a comment Cancel reply Your email address will not be published.

Related News Articles. Eilers and Krejcik polled 12 unnamed operators, and eight said the hold requirement is making them reconsider operating a sports betting application in Tennessee.

When Tennessee lawmakers passed a sports betting law last year, it was initially heralded for its innovative approach.

It became the first state to allow only online sports betting applications, eschewing brick-and-mortar retail sportsbooks. However, after the lottery unveiled the draft regulations, bettors and gaming industry officials expressed concerns on social media about the parlay and payout cap proposals.

Some questioned the legality of a regulatory body setting a payout cap, saying the rule exceeds its authority. If enacted, the 15 percent requirement would likely lead to bettors in Tennessee seeing worse odds for sporting events than their counterparts in other states where sports betting is legal, or from those betting illegally, either from local bookies or offshore sportsbooks.

The firm forecasts that Tennessee could attract as many as 60 percent of those who bet on sports illegally in the state without the payout restriction.

The study cites that the only market with a minimum hold requirement is France, which also mandates sportsbooks withhold 15 percent of the handle.

According to Global Market Advisors, another gaming industry consulting firm, the average hold for sportsbooks elsewhere is about 5 percent.

Eilers and Krejcik tracked the development of the French market alongside the market in Great Britain, which has a similar population, and Denmark, a country whose population is far smaller.

France, despite a population of 67 million, has just 13 licensed sportsbooks. Britain, meanwhile, has 40 licensed operators. More telling was the average spend per customer.

Not only are bettors wagering less in France, there are also fewer of them registered. Less than 4 percent of the French population is registered on a sportsbook, compared to 10 percent in Britain and about 8 percent in Denmark.

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