Tennessee Code 4-49-122 – House rules – Acceptance of wagers

(a) Each licensee shall adopt and adhere to a written, comprehensive policy outlining the house rules governing the acceptance of wagers and payouts. The policy and rules must be approved by the council prior to the acceptance of a wager by a licensee. The policy and rules must be readily available to a bettor on the licensee’s website.

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Terms Used In Tennessee Code 4-49-122

Bettor: means a person who is:
(A) Twenty-one (21) years of age or older. See Tennessee Code 4-49-102
Council: means the sports wagering council. See Tennessee Code 4-49-102
Licensee: means a person who holds a license issued under §. See Tennessee Code 4-49-102
written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105

(b) The council shall promulgate rules regarding:

(1) The manner in which a licensee accepts wagers from and issues payouts to bettors, including payouts in excess of ten thousand dollars ($10,000); and

(2) Reporting requirements for suspicious wagers.

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Tennessee Code 4-49-122 – House rules – Acceptance of wagers – Payouts

Terms Used In Tennessee Code 4-49-122

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