As used in this chapter, unless the context otherwise requires:

(1) “Adjusted gross income” means the total of all money paid to a licensee as bets minus the total amount paid out to winning bettors over a specified period of time, which includes the cash equivalent of any merchandise or thing of value awarded as a prize;

Terms Used In Tennessee Code 4-49-102

  • bet: means a sum of money that is risked by a bettor on the unknown outcome of one (1) or more sporting events, including, but not limited to, the form of fixed-odds betting, a future bet, live betting, a money line bet, pari-mutuel betting, parlay bet, pools, proposition bet, spread bet, or in any other form or manner as authorized by rule promulgated by the council. See Tennessee Code 4-49-102
  • Bettor: means a person who is:
    (A) Twenty-one (21) years of age or older. See Tennessee Code 4-49-102
  • Bond: means a bond held in escrow for the purpose of maintaining adequate reserves to account for losses suffered by a licensee and owed to bettors. See Tennessee Code 4-49-102
  • Collegiate: means belonging to, or involving, a public or private institution of higher education. See Tennessee Code 4-49-102
  • Council: means the sports wagering advisory council. See Tennessee Code 4-49-102
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Fixed-odds betting: means bets made at predetermined odds or on the spread where the return to the bettor is unaffected by any later change in odds or the spread. See Tennessee Code 4-49-102
  • Future bet: means a wager made on the occurrence of an event in the future relating to a sporting event. See Tennessee Code 4-49-102
  • License: means a license to accept wagers from bettors on sporting events issued under §. See Tennessee Code 4-49-102
  • Licensee: means a person who holds a license issued under §. See Tennessee Code 4-49-102
  • Live betting: means a type of wager that is placed after the sporting event being wagered on has commenced and whose odds on events occurring are adjusted in real time. See Tennessee Code 4-49-102
  • Minor: means a person who is less than twenty-one (21) years of age. See Tennessee Code 4-49-102
  • Money line: means the fixed odds in relation to a dollar amount that a team or person participating in a sporting event will win outright, regardless of the spread. See Tennessee Code 4-49-102
  • Pari-mutuel betting: means a type of bet in which all wagers on a particular occurrence are pooled and winnings are paid in accordance with the size of the pool and the number of winners. See Tennessee Code 4-49-102
  • Parlay bet: means a single wager that incorporates two (2) or more individual bets for purposes of earning a higher payout if each bet incorporated within the wager wins. See Tennessee Code 4-49-102
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Proposition bet: means a wager made regarding the occurrence or nonoccurrence during a sporting event of an event that does not directly affect the final outcome of the sporting event. See Tennessee Code 4-49-102
  • Sporting event: means any professional sporting or athletic event, including motorsports and e-sports, any collegiate sporting or athletic event, or any Olympic sporting or athletic event sanctioned by a national or international organization or association. See Tennessee Code 4-49-102
  • Spread: means the predicted scoring differential between two (2) persons or teams engaged in a sporting event. See Tennessee Code 4-49-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(2) “Bettor” means a person who is:

(A) Twenty-one (21) years of age or older;
(B) Physically present in this state when placing a wager with a licensee; and
(C) Not prohibited from placing a wager under § 4-49-112;
(3) “Bond” means a bond held in escrow for the purpose of maintaining adequate reserves to account for losses suffered by a licensee and owed to bettors;
(4) “Cheating” means improving the chances of winning or of altering the outcome by deception, interference, or manipulation of a sporting event or of any equipment, including software pertaining to or used in relation to the equipment, used for or in connection with the sporting event on which wagers are placed or are invited, including attempts and conspiracy to cheat;
(5) “Collegiate” means belonging to, or involving, a public or private institution of higher education;
(6) “Collegiate sporting event” means a sporting or athletics event involving a sports or athletics team of a public or private institution of higher education;
(7) “Council” means the sports wagering advisory council;
(8) “E-sport” means any multiplayer video game played competitively for spectators, either in-person or via remote connection, in which success principally depends upon the superior knowledge, training, experience, and adroitness of the players;
(9) “Fixed-odds betting” means bets made at predetermined odds or on the spread where the return to the bettor is unaffected by any later change in odds or the spread;
(10) “Future bet” means a wager made on the occurrence of an event in the future relating to a sporting event;
(11) “Interactive sports wagering” means placing a wager on a sporting event via the internet, a mobile device, or other telecommunications platform;
(12) “License” means a license to accept wagers from bettors on sporting events issued under § 4-49-117;
(13) “Licensee” means a person who holds a license issued under § 4-49-117;
(14) “Live betting” means a type of wager that is placed after the sporting event being wagered on has commenced and whose odds on events occurring are adjusted in real time;
(15) “Minor” means a person who is less than twenty-one (21) years of age;
(16) “Money line” means the fixed odds in relation to a dollar amount that a team or person participating in a sporting event will win outright, regardless of the spread;
(17) “Official league data” means statistics, results, outcomes, and other data related to a sporting event obtained pursuant to an agreement with the relevant governing body of a sport or sports league, organization, or association whose corporate headquarters are based in the United States, or an entity expressly authorized by such governing body to provide such information to licensees for purposes of live betting;
(18) “Online sports wagering platform” means the combination of hardware, software, and data networks used to manage, administer, or control sports wagering and any associated wagers accessible by any electronic means, including mobile applications and internet websites accessed via a mobile device or computer;
(19) “Pari-mutuel betting” means a type of bet in which all wagers on a particular occurrence are pooled and winnings are paid in accordance with the size of the pool and the number of winners;
(20) “Parlay bet” means a single wager that incorporates two (2) or more individual bets for purposes of earning a higher payout if each bet incorporated within the wager wins;
(21) “Professional sports team” means a major or minor league professional baseball, football, basketball, soccer, or hockey franchise, or a professional motor sport;
(22) “Proposition bet” means a wager made regarding the occurrence or nonoccurrence during a sporting event of an event that does not directly affect the final outcome of the sporting event;
(23) “Sporting event” means any professional sporting or athletic event, including motorsports and e-sports, any collegiate sporting or athletic event, or any Olympic sporting or athletic event sanctioned by a national or international organization or association. “Sporting event” does not include horse racing;
(24) “Sports governing body” means the organization, league, or association that oversees a sport and prescribes final rules and enforces codes of conduct with respect to such sport and participants therein;
(25) “Spread” means the predicted scoring differential between two (2) persons or teams engaged in a sporting event;
(26) “Supervisory employee” means a principal or employee having the authority to act on behalf of a licensee or whose judgment is being relied upon to manage and advance the business operations of a licensee;
(27) “Vendor” means a contractor, subcontractor, or independent contractor hired, or contracted with, by the council or a licensee for the purpose of facilitating the business of the council or licensee under this chapter; and
(28) “Wager” or “bet” means a sum of money that is risked by a bettor on the unknown outcome of one (1) or more sporting events, including, but not limited to, the form of fixed-odds betting, a future bet, live betting, a money line bet, pari-mutuel betting, parlay bet, pools, proposition bet, spread bet, or in any other form or manner as authorized by rule promulgated by the council.
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