New Tennessee Law Adds to Online Casino Growth Potential

New Tennessee Law Adds to Online Casino Growth Potential

May 6th, 2019 Online Betting, Online Casino

Concurrently the momentum of Online casino gambling has proven to be unstoppable.  This momentum has carried over into the laws of various states that now see the benefits of gambling.  Tennessee is the latest state that has seen the light and passed a sports betting bill.  Accordingly, Tennessee governor Bill Lee will allow the bill to become law.  But he will not actually sign it due to his opposition.  Instead he will pass the buck to the state legislature.  In view of the revenue generated by sports gambling there was really no other choice.

Online Casino Gambling Improvement

Tennessee, especially the city of Nashville, is rapidly growing in population.  That means roads, schools and general infrastructure are all overwhelmed.  It’s not hard to do the math and see how sports and Online casino gambling can foot the bill for improvements.  If follows that tax increases on the general public can be avoided with sports gambling legalization as well.  There will be no brick and mortar gambling houses.  Instead all sports gambling in Tennessee will be done by either mobile phone or online.

Schools to be Benefited

One of the ways that legislators were able to get Lee to surrender on opposition was to go the online and mobile route.  Lee did not want betting houses in Tennessee and agreed to not actively oppose a bill that was geared to online gambling instead.  Anyone aged 21 or older will be able to participate in the sports gambling now offered in Tennessee.  Most of the money will be diverted to schools at the Tennessee Education Lottery.  In turn it is expected that over $40 million will be added to the Tennessee education coffers.

Bible Belt State

Known as a state in the “bible belt” Tennessee has followed the lead of another deep south state (Mississippi) in allowing for online betting on sports.  One of the selling points of the Tennessee bill is its transparency.  Tennessee state Senator Steve Dickerson believes that the Tennessee bill will expose illegal online gambling and actually protect consumers.  While there were concerns about gambling addiction in the debate the revenue aspect trumped all.

Perfect Alternative

To be exact the thought of raising taxes is unappealing to many politicians, especially in the more conservative states.  As a result, Online casino gambling is seen as the perfect alternative.  That is because it is a voluntary tax.  Citizens that don’t want to gamble avoid the taxes.  By contrast those that want to take part in the sports betting know up front that there will be a tax element involved.  Yet they are not likely to care.

Online gambling and sports betting

More emphatically politicians are becoming much more pragmatic about online gambling and sports betting.  As a matter of fact, it’s a way to have their cake and eat it too.  Tax increases can be avoided while money can still be raised for infrastructure and education needs.  The reality of it all is that it’s a great way to get re-elected and not have to face opposition campaigns about having raised taxes.

Big Money for States

Not withstanding the opposition to sports and online gambling the future is becoming clearer.  In like manner there will be additional bills similar to the one just passed in Tennessee. At the end of the day states can’t resist the amount of money that will be raised by online and sports gambling.

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