Tennessee Approves More Sports Betting Licenses

Article ByStan Fox

October 29, 2020

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Posted in: Tennessee Gambling News, US Sports Betting News

Tennessee has finally licensed every operator, supplier, and vendor ahead of the official sports betting launch in the state on November 1.

Last Thursday, sports betting supplier Amelco and data supplier Swish Analytics obtained their sports betting licenses at the special Sports Wagering Committee meeting. In addition, seven other unspecified vendors, including affiliates and ID verification companies, were approved as well.

According to Tennessee Education Lottery CEO Rebecca Hargrave, it could be the last meeting before November 1, the day operators will be allowed to accept legal wagers in the state for the first time.

It is also likely that the licensed operators, DraftKings Sportsbook, FanDuel Sportsbook, BetMGM, and Tennessee Action 24/7, could go live early for customer registration.

Will All Betting Operators Be Live at the Launch?

DraftKings, FanDuel, and BetMGM have completed most of the go-live “checklist” required to launch. Therefore, it is likely that these three leading sportsbooks will be accepting bets on the launch day this coming Sunday. There is a likelihood of having more than usual betting activity, with lots of betting enthusiasts eager for legal NFL betting.

However, the homegrown Tennessee Action 24/7 and the fourth operator of the state sees a different story. The first-time sports betting operator reportedly faced trouble acquiring the necessary amount of insurance. According to the state requirement, operators should have two insurance types: a $5 million general commercial liability policy and a $15 million errors and omission policy.

In addition, there are three additional unspecified sports betting operators that have a scarce chance to launch by November 1.

Vendor Licenses

Earlier this month on October 16, the Sports Wagering Committee of the Board of Directors for the TEL approved the Vendor licensing application submitted by Murphy Marketing. The Committee enabled BettingUSA, a subsidiary company of Murphy Marketing, to engage in marketing activities on behalf of licensed sportsbooks in Tennessee.

While speaking on this development, Editor in Chief at BettingUSA.com, said, “With the approval of the Tennessee Education Lottery in hand, BettingUSA.com and TNBetting.com (Murphy Marketing’s other subsidiary company) are fully prepared to offer accurate and detailed information to readers.”

Burns further added, “We’re also proud to support responsible gaming as founding members of the 1% Initiative in partnership with the National Council on Problem Gambling.”

Tennessee sports betting was legalized in May 2019 and now headed to launch in November 2020.