Tennessee will cap the amount a bettor could win at 90% of his/her original stake, becoming the first state to mandate that the books generate at least a 10% hold. (A sportsbook’s “hold” percentage is simply its gross revenue divided by the total dollars wagered. So if a book takes in $1,000,000 in bets and makes $100,000 in revenue, its hold percentage would be 10%. Nevada has historically maintained a hold rate in the 5-6% range. New Jersey has been around 7% since launching.)
Such rules mean bettors in the state of Tennessee will be forced to pay a much steeper vig on their wagers than what you see in other states — a 10% hold implies -125 vig per side on a standard bet with two options ($125 bet would only profit $100 if it wins). That could, in turn, keep Tennessee from producing the 9-figure monthly handles we’ve seen from states like New Jersey, Indiana and Pennsylvania, which did not institute such regulations.
https://www.actionnetwork.com/news/tennessee-sports-betting-rules-hold-percentage
Such rules mean bettors in the state of Tennessee will be forced to pay a much steeper vig on their wagers than what you see in other states — a 10% hold implies -125 vig per side on a standard bet with two options ($125 bet would only profit $100 if it wins). That could, in turn, keep Tennessee from producing the 9-figure monthly handles we’ve seen from states like New Jersey, Indiana and Pennsylvania, which did not institute such regulations.
https://www.actionnetwork.com/news/tennessee-sports-betting-rules-hold-percentage
