INSIGHT IAGA SUMMIT WASHINGTON DC - MAY 28-30
In-game prop bets on collegiate sports are prohibited, as well as bets on injuries and penalties. How significant a concern is match fixing / manipulation in Tennessee and the US generally, particularly with regard to lower level sport?
Our colleges and universities in Tennessee are sensitive to it—they’re the ones who lobbied for the prohibitions. I’m glad they did, but there’s more to be done here. States still have yet to accept regulatory responsibility for the full range of risk in widespread sports gaming. Universities and conferences must do more, but I think states have to consider how to use their regulatory and political levers to enhance the integrity of intercollegiate athletics. Fortunately, the betting market in Tennessee for sports such as minor-league baseball, where integrity risks also could be high, is miniscule. But consider the NBA’s recent life ban of Jontay Porter. He’d made more than $2 million playing pro ball and was still lured away by $21,000 in bets. Te integrity problem runs throughout sport, not just in the relatively unwatched games.
Tennessee's legislation requires official league data for the purposes of settling in-game wagers with sportsbooks required to use such data as long as it is being offered to them under 'commercially reasonable terms'. What are commercially reasonable terms, and what happens if either the data isn't being offered or its not commercially reasonable?
Our legislature wrote the official league data provision out of our Act in 2023.
In a short space of time, Tennessee has greatly reformed its anti-gambling position. How should future policymakers look to continue the state's transformation?
Tom Lee Partner Nelson Mullins
“We have much to do in the
responsible gaming space. We do not have enough treatment resources or responsible gaming policies in place. Funding for research is inadequate and
reimbursement for care is still subject to widespread differences.”
Daily Fantasy sites are now some of the leading sports betting operators with the state having passed the Fantasy Sports Act in 2016. Were fantasy sports a precursor to sports betting? Was fantasy used to test the betting appetite of Tennessee citizens?
No, they’re completely separate games. Some of the same players, yes, but wholly different premises and regulatory concerns. We had no idea in 2016 that PASPA was just two years away from being declared unconstitutional.
How was the approach to legalising sports betting informed by the implementation of the Fantasy Sports Act?
Te best part about passing the Fantasy Sports Act in 2016 is that the Tennessee Secretary of State, who was then the regulator, gave management of fantasy regulation to his general counsel, Mary Beth Tomas. When we needed a CEO, she was—and still is—the home run choice.
Cautiously. We have much to do in the responsible gaming space. We do not have enough treatment resources or responsible gaming policies in place. Funding for research is inadequate and reimbursement for care is still subject to widespread differences. I love the current gaming space, but we need to get a handle on what we have now. Tat’s the only way to build political capital for expansion.
Finally, you will be participating in a panel on the evolution of sports wagering regulation and responsible marketing practices at the IAGA Summit. What message will you be sharing with fellow panellists?
I’m a lot more humble about my work than I used to be. We didn’t just let the genie out of the bottle. We let a lot of genies out of a lot of bottles. So, we need to come to terms with that, make that first priority, get that right, before voters will allow states such as mine to do more. I’m excited by that, by the way, because I think that gap between where we are and were we need to be is space enough to transform the gaming experience into one consumers and voters alike will embrace and enjoy.
WIRE / PULSE / INSIGHT / REPORTS P81
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