Tennessee sports betting to go live in November

Legislation was passed in July 2019 to legalise sports betting in the state.

US.- Lottery President and CEO Rebecca Hargrove has said sports betting will go live in Tennessee no later than November 1.

The timeframe was announced at a meeting of the Tennessee Lottery’s Sports Wagering Advisory Council. Legislation was passed back in July 2019 to legalise sports betting within the state.

Tennessee will be the only state with legal sports betting in which all wagers are to take place online. Land-based casinos and racetracks are prohibited in the state.

At yesterday’s meeting Hargrove reported that four operators and approximately twenty vendors and suppliers have applied for licences.

The state’s lottery has faced criticism for proposed regulations such as a cap on the annual payout percentage of each sports betting operator at 90 per cent and licensing fees of $750,000.

The council has also discussed a $25,000 penalty for operators who go below the 10 per cent hold but it was unclear to what time scale the penalty would be applied.