Tennessee prepares sports gambling launch, approves licenses for DraftKings, FanDuel

Tennessee prepares sports gambling launch, approves licenses for DraftKings, FanDuel

The Volunteer State is going to be the latest to be included on the growing list of legal states

Tennessee has made one more step into finally running its legal sports gambling market and it has approved the first set of sports gambling licenses and contracts. The regulatory agency, the Sports Wagering Committee of the Tennessee Education Lottery Board of Directors, confirmed the first group of betting operators who have received license approval. Everything is set for the legal market to go live on November first, and more licenses might be considered for approval on October 5 and October 16.

The Volunteer State has been working on approving licenses for the past week, and on Wednesday, Betfair Interactive US LLC (FanDuel); BetMGM, LLC; and Crown TN Gaming, LLC (DraftKings) all got their licenses. “The staff at the Tennessee Lottery performed a tremendous amount of work and due diligence to prepare us for these decisions today,” Board Chair Susan Lanigan said. “We appreciate their efforts as we work to establish and support a responsible and competitive sports wagering program in Tennessee.”

Based on the recently enacted sports betting law, the state is set to run sports betting by phone, mobile device, or over the Internet. The legal market was approved for people 21 and older and the users must be physically present in the state in order to place a wager. The lottery agency itself does not run any wagering service, but it will be in charge of regulating the approved operators. After New Jersey’s Supreme Court victory in May 2018, Tennessee is the 19th state to run legal sports betting operations. Other states will follow up with already passed bills like Virginia and North Carolina.

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