39-17-501 - Part definitions.

39-17-501. Part definitions.

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

     (1)  Gambling is contrary to the public policy of this state and means risking anything of value for a profit whose return is to any degree contingent on chance, or any games of chance associated with casinos, including, but not limited to, slot machines, roulette wheels and the like. For the purposes of this chapter gambling does not include:

          (A)  A lawful business transaction;

          (B)  Annual events operated for the benefit of charitable § 501(c)(3) organizations that are authorized pursuant to a two-thirds (2/3) approval of the general assembly, so long as such events are not prohibited by the state constitution; or

          (C)  A state lottery of the type in operation in Georgia, Kentucky, and Virginia in 2000 and authorized by amendment to the Constitution of Tennessee, if the lottery is approved by the general assembly;

     (2)  “Gambling bet” means anything of value risked in gambling;

     (3)  “Gambling device or record” means anything designed for use in gambling, intended for use in gambling, or used for gambling;

     (4)  “Lawful business transaction,” as used in subdivision (1), includes any futures or commodities trading;

     (5)  “Lottery” means the selling of anything of value for chances on a prize or stake; and

     (6)  “Profit” means anything of value in addition to the gambling bet.

[Acts 1989, ch. 591, § 1; 1990, ch. 945, § 1; 2001, ch. 439, § 1; 2007, ch. 349, § 1; 2009, ch. 267, § 1.]