Rules & Regulations of the State of Tennessee
Title 1350 - Tennessee Sports Wagering Advisory Council
Chapter 1350-05 - Rules Related to the Fantasy Sports Act
Section 1350-05-.05 - APPROVAL OF LICENSURE

Universal Citation: TN Comp Rules and Regs 1350-05-.05

Current through April 3, 2024

(1) The Sports Wagering Council shall review each license application and renewal application received and either approve or deny the application within ninety (90) days of receipt of a fully completed application, as determined by the Sports Wagering Council. The Sports Wagering Council has the discretion to approve, deny, or condition the application based on the adequacy of the information submitted.

(2) Each license shall expire on the last day of the twelfth month following its issuance and shall become invalid on that date unless renewed.

(3) If the license, or renewal license, is granted, the licensee must remit payment in accordance with the following schedule, within ten (10) days of receipt of the notification letter approving the application or renewal application.

(a) For Fantasy sports operators with annual adjusted revenue, multiplied by the resident percentage, equal to or greater than $2,000,000.................... $75,000.

(b) For Fantasy sports operators with annual adjusted revenue, multiplied by the resident percentage, equal to or greater than $1,000,000 but less than $2,000,000................................................................................................ $50,000.

(c) For Fantasy sports operators with annual adjusted revenue, multiplied by the resident percentage, equal to or greater than $500,000 but less than $1,000,000....................................... $22,500.

(d) For Fantasy sports operators with annual adjusted revenue, multiplied by the resident percentage, equal to or greater than $100,000 but less than $500,000..................................... $10,000.

(e) For Fantasy sports operators with annual adjusted revenue, multiplied by the resident percentage, equal to or greater than $50,000 but less than $100,000.................................... $5,000.

(f) For Fantasy sports operators with annual adjusted revenue, multiplied by the resident percentage, equal to or greater than $10,000 but less than $50,000...................................... $2,500.

(g) For Fantasy sports operators with annual adjusted revenue, multiplied by the resident percentage, less than $10,000..................................... $1,000.

(4) Payments will be accepted in the form of a check made payable to the Sports Wagering Council.

(5) License fees are nonrefundable.

Authority: T.C.A. §§ 4-49-201, 4-49-208, and 4-49-212.

Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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