Tennessee approves 3 Sportsbooks Licenses
After passing the Sports Betting Law last year, legal Sports Betting in Tennessee is set to go live in November. Therefore, the Tennessee Education Lottery Board of Directors (TEL) is working hard to make it happen. Thus, according to an announcement by the TEL, Tennessee approves 3 Sportsbooks Licenses on a conditional basis. These three sportsbooks are BetMGM, DraftKings and FanDuel who already have a large share of the U.S. sports betting market.
According to this Sportsbook Software provider, Tennessee residents will be able to legally bet on sports on November first. However, until today, the issue was whether any sportsbook would receive a license in time for the sports betting launch. This is because the TEL had not yet given approval to any suppliers, sportsbooks or vendors.
However, these worries have now mostly been put to rest. This is due to the committee also reporting that they have given approval to the first gambling supplier. In addition, they also said that 26 vendors have given their application for approval.
Tennessee approves 3 Sportsbooks Licenses on a Conditional Basis
BetMGM, DraftKings and FanDuel have temporary approval but the final approval will not be given until October. Therefore, these companies must wait until October 5 before they receive the final approval to open an online sportsbook operation. However, many gambling experts only see this as a formality.
According to Bookie Pay Per Head News, a local operator also sought to receive a temporary approval from the TEL. Unfortunately, for the local business, they did not have time to review them for a sports betting license.
Many sports bettors in Tennessee are hoping that these sportsbooks will be open before the November first date. In fact, there is a possibility it could happen if all sportsbook operators can to launch on the same day.
Legal Sports Betting in Tennessee is different than other states because they do not have any casinos within their borders. Therefore, only mobile sports wagering will be available in Tennessee.