Legal Tennessee Sports betting is two week away from its launch and with some minor glitches to fix, state regulators are working round the clock to iron out those issues.
Las Friday, the Tennessee Education Lottery held several meetings to make some adjustments on the language of the state’s sports betting rules. Likewise, the regulators approved a new betting menu, and corrected some of the language in NCAA Football betting.
Tennessee Education Lottery CEO Rebecca Hargrove suggested that the approved sportsbooks be allowed to open for a few hours on the day before November 1st. Hargrove argued that November 1st is an NFL Sunday, a very busy day in sports betting., and she does not want the legal Tennessee sports betting sites to be overwhelmed.
It was also agreed that 20% of the legal Tennessee sports betting revenues will go back to the state with most of the funds going to education and institutions dealing with higher learning. Mental health initiatives have also been targeted as a beneficiary of Tennessee sports betting funds.
Fourth Sportsbook Waiting For Approval
BetMGM, DraftKings and FanDuel were the sportsbooks announced by the Volunteer State last month as approved to do business in its jurisdiction. A fourth sportsbook in the Tennessee Action 24/7, has filed its application but is unsure if they will be given the go-signal to launch along with the others on November 1st.
Tennessee Action 24/7 filed its application on September 23rd but the home-grown sportsbook has yet to hear from the Tennessee Education Lottery. Amelco, the company behind the Tennessee sportsbook, sent its sports betting application last September 23rd. With the Tennessee Education Lottery averaging six weeks to review the application and do background check, it is expected that the Tennessee sportsbook will receive its approval during the first week of November.
Online Sports Betting Only
The launching of legal Tennessee online betting will come with some historic controversy because the Volunteer State is the first to allow customers to bet on sports exclusively online. Betting in casinos is not permitted and there are no brick and mortar sports shops in the state.
Sports betting was legalized in Tennessee in 2019 when Governor Bill Lee let the period of legislation expire without his signature. Since then, Tennessee sports betting has taken a divided political path. The Tennessee Education Lottery has struggled to develop an infrastructure to manage sports betting in a state that has no previous casino gambling experience.