Tennessee Sports-Betting Council Recommends Higher Maximum Payout Cap

A controversial provision in Tennessee’s draft sports-betting regulations that would require operators to payout no more than 85 percent of wagers will likely be modified following recommendations by an advisory council and comments from top regulators Tuesday.

The Tennessee Sports Wagering Advisory Council met Tuesday to further discuss the draft regulations that were first released in November.

The council advises the Tennessee Education Lottery Corporation (TELC) and its board of directors on sports-betting policy, and board members voted unanimously to recommend a payout cap of between 90 and 95 percent.

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