Seven Sports Betting Companies Looking For Entry Into Tennessee

The Tennessee Education Lottery held another meeting Monday to further inspect companies looking to be involved with betting.
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On Monday, the Tennessee Education Lottery held another meeting to approve firms for involvement in the state’s upcoming online/mobile sports betting industry.

The TEL meeting in Nashville lasted about two hours, with regulators doing work to approve service providers like Gaming Labs International, a firm that tests gambling technology; Sportradar; IGT; and others.

Additionally, it was revealed Monday that there are now seven companies seeking to exist as operators in the state. A sports gaming operator is the highest level of licensure for the state’s industry.

Sportsbooks that have received conditional licensure include BetMGM, FanDuel, and DraftKings, with a fourth operator, Action247, still waiting to complete the process. All four could launch together on the same day at or near the end of the month.

Action247 is a Tennessee-based company, and the Volunteer State would be its first market. It’s using UK-based Amelco to power its product.

The names of the other three firms can’t be made public yet.

The TEL is still eyeing a Nov. 1 launch date, but a soft launch could come earlier. Nov. 1 is an NFL Sunday.

Sports wagering list discussed

Another development was the TEL discussing its list of approved events for wagering. The TEL basically copied the lists that have already been implemented in the sports betting states of Colorado, Indiana, and New Jersey, the latter of which is the nation’s top mobile betting market.

Unlike New Jersey, Tennessee won’t allow bets on an entertainment event like the Academy Awards.

According to the discussion Monday, regulators will continue fine-tuning the list, as regulators in other states do. The TEL is asking for operators to give them at least 72 hours notice when requesting an addition to the list.

Tennessee will allow bets on both professional and amateur sports, as well as eSports.

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