The state of Tennessee is finally ready to launch its sports betting industry, as things are set to open up on Sunday, November 1st. This has been a long road for the industry in the Volunteer State, but bettors will be able to begin making bets just in time for Week 8 of the NFL season.
The Tennessee Education Lottery is the regulatory body of the sports betting industry in the state, and it has been extremely busy over the last few weeks. The Education Lottery has created a Sports Wagering Committee, and that is the group that reviews and makes decisions on all of the license applications.
Action 24/7 is one of the groups looking to launch sports betting in the state, and that group received some great news on Thursday night. Amelco, the provider for Action 24/7, was officially approved by the committee, and it will allow Action 24/7 to begin taking bets.
BetMGM, DraftKings, and FanDuel have already been approved by the committee, and those operators will provide stiff competition to Action 24/7. Action 24/7 has no plans to offer sports betting in other parts of the country, but it is looking to make a name in the state of Tennessee.
The Tennessee Education Lottery officially approved the betting catalog on October 16th, and sportsbook operators now have a better idea of what they can offer to customers. All of the betting in Tennessee must be done online or through a mobile app as the state does not have any casinos or retail sportsbook options.
Seven vendors were also approved by the Sports Wagering Committee on Thursday, and this was another critical step that had to be completed before launch. Sportsbooks cannot offer betting unless all of its vendors have received a license as well.
In-game prop betting on collegiate sporting events has been banned in the state of Tennessee, and that is a win for colleges and universities in the state. College athletic programs are worried that sports betting could hurt the integrity of its sport.
How Many Operators Set to Launch?
Even though sports betting will officially kick off on November 1st, the entire industry will likely take several months to get going. Only a handful of operators appear to be ready to go on Sunday, but the three big-name operators are prepared.
BetMGM, DraftKings, and FanDuel have already complete many of the items on the checklist, leaving each operator on track to launch. Action 24/7 still has some work to do, and it might be a stretch for them to launch on opening day.
For the sportsbooks that are ready to go live on November 1st, expect plenty of promotions centered around Week 7 of the NFL season. Betting on the NFL is extremely popular in the US, and sportsbooks are counting on the sport to drive betting in the first few months.
Three other sportsbooks have applied for a license in Tennessee, but these operators have not been named. They will likely be forced to wait a few weeks before they can offer bets.