Tennessee Officially Launches Sports Betting

Sports Betting in Tennessee Launches as Planned

By Blake Roberts Founder & Editor in Chief Updated: 02 November 2020

Blake Roberts Founder & Editor in Chief

Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.

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Some of the Big Names Come to Tennessee

As expected, some of the country’s biggest names in sports betting are among those approved for sports betting in the state. These are FanDuel, DraftKings, and BetMGM. In addition, a local sportsbook operator, Action 247, is also onboard.

The official launch of the sports betting market in Tennessee was confirmed by the Tennessee Lottery, which will regulate the market. An official from the TEL made a statement prior to the launch acknowledging the huge amount of work that had gone into the process.

She said that the launch date would represent:

…the culmination of an enormous amount of work and due diligence to bring online-only sports wagering to Tennessee, the only state in the nation to do so. As the regulator, today also represents the beginning of a new stage as we establish and support a responsible and competitive program here.

In addition, she confirmed that the Lottery would carry on working closely with all approved sportsbook operators and applicants. She said that the aim was to ensure fairness in the new sports betting market, protect consumers, and ensure efficient regulation of the market.

In the meantime, the new sports betting operators in the state have launched a range of special deals and offers to bring new customers on board. Many are keen to gain a solid foothold during the early stages, hence offering great promotions and deals for new customers who open accounts.

Vital Funding for the State

Like other states across the country, Tennessee has suffered huge financial difficulties and devastation over the course of this year. The COVID-19 pandemic resulted in many businesses having to close for several months, and it meant a reduction in tourism and visitor numbers due to travel restrictions.

All these things have had a profound impact on the economy, and this is something that has had a huge negative effect on funding and services within Tennessee. Officials hope that the revenue generated by the launch of online and mobile sports betting will bring in much-needed state funds, which can then be used to improve and maintain vital services.

Tennessee Lottery officials said that the revenue generated by online sports betting could provide critical funds for the state and to local governments. After the devastation caused to the economy over the course of this year, this is something that will undoubtedly provide some form of financial relief and security across the state.