• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Tennessee Grants 3 National Operators Conditional Sports Betting Approval

BetMGM, DraftKings and FanDuel headed toward TEL's Nov. 1 go-live date

Jill R. Dorson by Jill R. Dorson
September 23, 2020
in Regulation
approved-stamp-tennessee

(Shutterstock)

Share on FacebookShare on Twitter

BetMGM, DraftKings and FanDuel got conditional approval for sports betting in Tennessee Wednesday during a Special Meeting of the Sports Wagering Committee. Two other operators have applied — Tennessee Action 24/7 and an unnamed operator. It’s possible that both could get licensed before the Nov. 1 go-live date, as the TEL Board has additional special meetings scheduled for Oct. 5 and 16.

At the August meeting, President and CEO Rebecca Hargrove said that the TEL is aiming for a Nov. 1 launch date, and on Wednesday, she reiterated that that is still the plan.

Plenty of detailed questions on applications

BetMGM, DraftKings and FanDuel also all went live on the same day in Colorado – along with BetRivers. Colorado is so far the only other state that set a go-live date and launched multiple operators. Most regulators have conducted soft launch test periods and given green lights in more of a rolling fashion.

With regard to the licensing process, Lottery Board members spent more than three hours reviewing the applications and asking questions of staff before agreeing to grant conditional approval. Among the outstanding items that operators and Lottery staff will have to deal with ahead of launch are providing fingerprints, securing letters of reference from other states the operators are live in as well from law enforcement, clarifying some issues with regard to reserve accounts and insurance requirements, and completing/reviewing advertising and marketing campaigns.

The Tennessee Lottery Corporation is putting the final touches on bringing sports betting to our state. https://t.co/A4a1UPpLXU

— WSMV News4 Nashville (@WSMV) September 16, 2020

According to Lottery staff, the Tennessee Lottery has received letters of good standing for BetMGM, DraftKings and FanDuel from New Jersey and Colorado. The hope is to get similar letters from other states in which the operators are active.

Much of Wednesday’s discussion centered around reserve accounts and insurance requirements. Discussion was spirited as it is clear that while Board members are familiar with licensing requirements for lottery, the requirements or industry standards are different for sports betting.

Vice President of Sports Betting Danielle Boyd — who helped craft the West Virginia sports betting law and later headed up William Hill’s government relations department — clearly stated that granting conditional or provisional licenses is “consistent with what other jurisdictions” have done. Any operator who does meet the requirements of a conditional license will have the license revoked.

Action Tennessee 24/7 should be up next

The Board also approved geofencing company GeoComply for a supplier’s license as well as multiple vendors. Hargrove reminded staff, board members, and presumably any operators who were listening, that before an operator can go live, its suppliers and vendors must also be licensed.

With regard to operator licenses, it’s likely that Action Tennessee 24/7 and the fifth unnamed company will be considered for conditional licenses at one of the two special meetings set for October.  Action Tennessee 24/7 is a local company, founded by Tennessee natives, that will offer its own mobile platform using tech from Amelco and Sportradar.

#SPORTS #Startups #MLB #Tennessee Our latest roundup includes updates on proposed @NashvilleStars @MLB team and on impending @TNLottery greenlight for @TNAction247 legalized sports betting visit >> https://t.co/tw0xCIRasr

— Milt Capps (@miltcapps) September 23, 2020

It’s likely to take the TEL and Action Tennessee 24/7 longer to complete the license application than other bigger companies, who are already operating in other states. The national companies not only have experience with filing rigorous applications, but regulators can look at their track records in other jurisdictions.

Background on Tennessee sports betting

Tennessee lawmakers legalized mobile sports wagering only on July 1, 2019. It is the only state that has legalized online/mobile with no retail sports betting. Legal gambling in Tennessee has so far consisted of only the state lottery and its traditional lottery products. It has taken the Lottery nine months to approve sports betting regulations, which include a controversial payout cap, that requires operators to hold a minimum of 10% of all player wagers, or put another way, paying out a maximum of 90%.

The Lottery included the cap in the hopes of maximizing revenue to the state, however such a cap will likely force operators to offer less attractive prices and payouts in certain areas in Tennessee than they would elsewhere.

Tennessee is one of three U.S. states with legal-but-not-live sports betting. The Virginia Lottery approved regulations on Sept. 15 and plans to begin accepting applications in mid-late October. The goal is for operators to go live in January 2021. In Washington, the first and only state to approve tribal sports betting only, lawmakers legalized sports betting in March, and the Washington Gambling Commission has not yet released proposed regulations.

ShareTweetShare
Jill R. Dorson

Jill R. Dorson

Jill has covered everything from steeplechase to the NFL and then some during a more than 30-year career in sports journalism. The highlight of her career was covering Oakland Raiders during the Charles Woodson/Jon Gruden era, including the infamous “Snow Bowl” and the Raiders’ 2003 trip to Super Bowl XXXVII. Her specialty these days is covering sports betting legislation across the country. You can reach Jill at jill@bettercollective.com

Related Posts

FanDuel Sportsbook Ohio Special offer and promo code
Promotions

Back the Bengals and Claim $200 in Bonus Bets with FanDuel Ohio Promo Code

January 29, 2023
© Albert Cesare/The Enquirer / USA TODAY NETWORK
Promotions

BetMGM Ohio Bonus Code: HANDLETOP – $1K First Bet Offer for Bengals at Chiefs

January 29, 2023
Load More

Top Stories

patrick mahomes

Mahomes’ Ankle Speculation Twists Line Movement In Chiefs-Bengals Rematch

January 27, 2023
fanatics-grand-opening

Fanatics Sportsbook At FedEx Field Offers Unique Retail Option In Maryland

January 23, 2023
Shutterstock

Missouri Legislators Lament Exodus Of Bettors To Neighboring States

January 27, 2023
rob gronkowski adam vinatieri

Rob Gronkowski Goes Training Montage Route In Latest FanDuel Spot

January 17, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
January 25, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
January 27, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
October 20, 2022

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

gambling therapy
ncpg
igaming ontario
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (MI/NJ/OH/PA/WV), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN).
19+. Please play responsibly. Terms and conditions apply. 
Individuals must be 19 years of age or older to participate in igaming in Ontario. Gambling can be addictive, please play responsibly. If you, or someone you know, has a gambling problem in Ontario and wants help, please visit ConnexOntario or call their helpline at 1-866-531-2600. Operators on this website operate pursuant to an Operating Agreement with iGaming Ontario.

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
    • Guide To ‘Risk-Free’ Bets
  • News

loading

Please wait while you are redirected to the right page...

Please share your location to continue.

Check our help guide for more info.

share your location