KNOXVILLE, Tenn — The wait is over sports fans, your bet is now legal in Tennessee.
Representative Rick Staples who sponsored the legislation told us a few weeks back how groundbreaking the law is.
"Were talking about Tennessee is the first state in the nation to do online interactive and mobile-only," Staples said.
Legislation passed back in 2019 legalizing online sports betting becomes official Sunday, Nov. 1. Betting expert Allan Bell said this is huge.
"It's massive right so were seeing across the country state by state that this legislation is going through because of the revenue possibilities so this is a 4 billion business and states are realizing, 'Hey, we can get on this as well,'" said Bell of CBS Sportsline.
Twenty percent of the revenue from betting will go back to the state.
"Majority of those dollars go toward education and institutions of higher learning to help our young people continue to grow and educate themselves," Rep. Staples said.
Those funds will also be distributed in other ways supporting infrastructure and mental health across the state.
Knoxville will get a significant amount of that money.
"If you look at Knox County, if you look the city of Knoxville, they will get roughly $1.3 million a year," said Rep. Staples
Bell makes it clear, bad beats are bound to happen.
"There will be an education process for the market."