The Sports Wagering Committee of the Tennessee Education Lottery Board of Directors on Wednesday conditionally approved licenses for the first group of sports betting operators in Tennessee.
The committee also approved its first supplier application and 26 additional vendor applications and announced follow-up meetings Oct. 5 and 16 to take up more applications and review additional information from licensees before the intended Nov.
1 go-live date for sports betting in Tennessee.
The licensees in the first group are: Betfair Interactive US LLC (FanDuel); BetMGM, LLC; and Crown TN Gaming, LLC (DraftKings). There are no restrictions on the number of licenses that may be issued for interactive sports gaming operations, but licensees and suppliers must meet suitability requirements.
“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.”
Tennessee state law permits wagering on sporting events via the internet, mobile device or other telecommunications platforms. A customer must be at least 21 years old to play and physically located in Tennessee at the time the wager is placed.
The Tennessee Lottery is responsible for the licensing and regulation of online sports wagering in Tennessee. The TEL does not serve as an operator, only as the regulator, in accordance with the law.
“We will continue to work with all parties involved to protect the consumer, promote fairness in sports and regulate this new Tennessee industry that provides critical funds to the state and local governments,” TEL President and CEO Rebecca Hargrove said.
There are three categories of potential applicants: licensee (operator), supplier and vendor. Definitions can be found in rules on the sports gaming page of the Tennessee Lottery website. through the sale of its products. Since January 20, 2004, the Lottery has raised more than $5.38 billion to fund designated education programs, including college grants, scholarships, Drive to 55 initiatives and after-school programs. In addition to the educational beneficiaries, players have won more than $14.8 billion in prizes and Lottery retailers have earned more than $1.4 billion in retailer commissions.