§ 4-49-125 — Interactive sports wagering

Tennessee § 4-49-125

• Jurisdiction: Tennessee
• Title: 4

Text

(a) Prior to placing a wager with a licensee via interactive sports wagering, a bettor shall register with the licensee remotely and attest that the bettor meets the requirements to place a wager with a licensee in this state. Prior to verification of a bettor's identity in accordance with this section, a licensee shall not allow the bettor to engage in sports wagering, make a deposit, or process a withdrawal via interactive sports wagering. A licensee shall implement commercially and technologically reasonable procedures to prevent access to sports wagering by minors on its interactive platforms. A licensee may use information obtained from third parties to verify that a person is authorized to open an account, place wagers, and make deposits and withdrawals. (b) A licensee shall adopt a registration policy to ensure that all bettors utilizing interactive sports wagering are authorized to place a wager with a licensee within this state. The policy must include, without limitation, a mechanism by which to: (1) Verify the name and age of the registrant; (2) Verify that the registrant is not prohibited from placing a wager under § 4-49-112 ; and (3) Obtain the following information: (A) A physical address other than a post office box; (B) A phone number; (C) A unique user name; and (D) An active email account. (c) A licensee may require a bettor to provide the licensee with a signed and notarized document attesting that the bettor is qualified to engage in sports wagering under this part as part of the registration policy of the licensee. (d) A bettor shall not register more than one (1) account with a licensee, and a licensee shall use all commercially and technologically reasonable means to ensure that each bettor is limited to one (1) account. (e) A licensee, in addition to complying with state and federal law pertaining to the protection of the private, personal information of registered bettors, shall use all other commercially and technologically reasonable means to protect such information consistent with industry standards. (f) Once a bettor account is created, a bettor may only fund the account through: (1) Electronic bank transfer of funds, including such transfers through third parties; (2) Debit cards; (3) Online and mobile payment systems that support online money transfers; and (4) Any other method approved by the rule of the council that is initiated with cash. (g) (1) Each financial transaction with respect to an account between a bettor and licensee must be confirmed by email, telephone, text message, or other means agreed upon by the account holder. A licensee shall use all commercially and technologically reasonable means to independently verify the identity of the bettor making a deposit or withdrawal. (2) If a licensee determines that the information provided by a bettor to make a deposit or process a withdrawal is inaccurate or incapable of verification, or violates the policies and procedures of the licensee, the licensee shall, within ten (10) days, require the submission of additional information that can be used to verify the identity of the bettor. (3) If such information is not provided or does not result in verification of the bettor's identity, the licensee shall: (A) Immediately suspend the bettor's account and not allow the bettor to place wagers; (B) Retain any winnings attributable to the bettor; (C) Refund the balance of deposits made to the account to the source of such deposit or by issuance of a check; and (D) Deactivate the account. (h) A licensee shall utilize geo-location or geo-fencing technology to ensure that interactive sports wagering is only available to bettors who are physically located in this state. A licensee shall maintain in this state its servers used to transmit information for purposes of accepting or paying out bets or wagers on a sporting event placed by bettors located in this state. (i) A licensee shall clearly and conspicuously display on the website page a statement indicating that it is illegal for a person under twenty-one (21) years of age to engage in sports wagering in this state. (j) The council shall promulgate rules for purposes of regulating sports wagering via interactive sports wagering.

Legislative History

Renumbered from T.C.A. s4-51-325by 2021 Tenn. Acts, ch. 593, s 30, eff. 1/1/2022. Added by 2019 Tenn. Acts, ch. 507, s 1, eff. 7/1/2019.