Tennessee Approves More Sports Betting Licenses As Launch Nears

Posted on October 22, 2020
Tennessee sports betting
Posted By on October 22, 2020

It looks like Tennessee finally licensed every operator, supplier and vendor that will be live when sports betting launches next Sunday.

Sports betting supplier Amelco and data supplier Swish Analytics both received their TN sports betting licenses Thursday at a special Sports Wagering Committee meeting. Another seven unspecified vendors including affiliates and ID verification companies were licensed as well.

That’s likely the last meeting before Nov. 1, the first day operators are allowed to accept wagers in the state, Tennessee Education Lottery CEO Rebecca Hargrave said.

There’s still a chance the licensed operators – BetMGM, DraftKings Sportsbook, FanDuel Sportsbook and Tennessee Action 24/7 – could go live for customer sign-ups early.

Will all TN sports betting operators be live at laucnh?

BetMGM, DraftKings and FanDuel should have no problem going live Nov. 1. Most of the go-live “checklist” from them is completed, Hargrave said.

Hopefully, for their sakes, they don’t run into any problems actually accepting a bet either. Nov. 1 is also a Sunday, meaning there should be plenty of eager bettors ready for legal NFL betting.

Tennessee Action 24/7 is the outlier of the bunch. The first-time sportsbook has reportedly had trouble getting the required amount of insurance. Tennessee requires operators two have two types of insurance: a $5 million general commercial liability policy and a $15 million errors and omissions policy.

There are also three unspecified sportsbook operators that have applied in Tennessee. Their chances to launch Nov. 1 seem between slim to none.

Even more rule changes

In case the more than an hour of rule change talk last week wasn’t enough, the committee again needled away at changes. Topics included whether to capitalize sports event or use wager or bet after the word proposition.

Eventually, though, one rule of note came up. The rules were amended to allow operators to compensate for what they lack in insurance coverage.

That plan, which might be what Tennessee Action 24/7 ultimately needs, will have to be approved by the Lottery.

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Matthew Waters

Matthew Waters is a reporter covering legal sports betting and the gambling industry. Previous stops include Fantini Research and various freelance jobs covering professional and amateur sports in Delaware and the Philadelphia area.

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