The state of Tennessee to authorise online sports betting from November 1st

The NFL match between the Tennessee Titans and the Cincinnati Bengals will allow Tennesseans to place online bets for the first time since its legalisation

This weekend will see the Tennessee Titans kick off against the Cincinnati Bengals on Sunday.  Tennesseans will also be allowed to place mobile sports bets on a digital platform. This is the first-time online sports betting will take place, sixteen months after its legalisation. Furthermore, according to multiple operators, the Tennessee Education Lottery (TEL) will launch BetMGM,  DraftKings,   FanDuel, and Tennessee Action 24/7 on NFL Sunday.

The state of Tennessee became the first to legalise digital-only sports betting in July 2019. The state had no previous relation to the gaming industry, with no casinos present in the state, other than the traditional lottery.

Sports betting regulations where approved by TEL in April of 2019 which made the state of Tennessee the first and only state regulator to enforce a payout cap. Such a cap requests that operators handle at least 10%, or pay out no more than 90% to patrons — intended as a mechanism to generate more tax revenue for the state.

 “We continue to work with all licensees and registrants to be ready by Nov. 1 as we establish and support a responsible and competitive sports wagering program in Tennessee,” a lottery spokesman said.

Action Tennessee 24/7 look to dominate the market

All four licensed operators will offer special promotions to Tennessee sports bettors.

Three of the four operators approved for launch operate out of state, with only Action Tennessee 24/7 operating locally. Action Tennessee 24/7 will focus on the local community, by tailoring offers to specific regions of the state.

Such a platform is owned by Tina Hodges, whom is a Tennessean businesswoman and owns a payday loan company.

During an interview with Sports Handle, Hodges explained that “Action 24/7 is proud to be the only Tennessee-owned and operated sportsbook in the starting lineup this Sunday,” Hodges adds “We can’t wait to serve our neighbors across the state with the world-class sports gambling experience they deserve.”

Additionally, Hodges told TN Bets earlier this month that 24/7 will only operate in Tennesse and no other state. “We are not adding another state to our portfolio. This is our state. All of our employees live here, 90% of our investors live here, everyone every step of the way has wanted to help out.”

Offering a free to play site, Action Tennessee 24/7 will allow bettors to sign up for updates on sports betting ahead of launch.

Lottery to announce new launch date

The Tennessee Lottery has been acting swiftly in order to secure a launch date since the new vice President of Sports Gaming Operations Danielle Boyd was brought in.

Many operators where previously frustrated with the slow-paced movement in Tennessee. However, communication and time frames have now picked up pace with the date set at November 1st. The four operators in Tennesse all managed to get their applications approved by late October – which included their suppliers and vendors. Last week during its meeting, before launch date, a substantial list of vendors were approved by the Lottery including payment-processing companies and affiliates.

Furthermore, three additional operators have started the application process, but the lottery declined to release their names. Under new legislation, no limit is set on the number of new additional platforms that are allowed to operate in the state.  It was reported by TN Bets that in response to a Freedom of Information request to the TEL, they unveiled that Wynn, William Hill and Churchill Downs all submitted applications.

Colorado is the only other state that launched its operators as a group, on May 1st. The difference is that in Colorado, few sports were being played due to pandemic restrictions. This gave a chance to the regulators and operators to work around any issues with little pressure.

On Sunday, the NFL will have a full schedule of games, the PGA’s Bermuda Classic will enter its final day, ATP events in Switzerland and Kazakhstan also enter their final stages, and there are countless international sporting events on the calendar. Operators say they’re ready to go, but as for any business, opening operations on the busiest day of the week will pose as a major challenge.

About SiGMA’s revamped website:

SiGMA Group is excited to announce the launch of its newly revamped website. The website is currently available in 5 languages, English, Russian, Mandarin, Portuguese, and Spanish with plans to add another 5 languages over the coming months – namely French, Thai, Korean, Japanese, and Hindi.