On July 1, 2019, the Tennessee Sports Gaming Act entered impact as Gov. Bill Lee agreed to allow the costs to end up being law without his signature. Gov. Lee emphatically opposed betting however understood that legal online sports betting was in his state’s benefit.
Review this timeline of Tennessee’s sports betting history for an introduction of its milestones:
Dec. 12, 2024: Tennessee makes a record-breaking $591 million deal with in November, exceeding the state’s previous high by $47 million.
Nov. 14, 2024: Tennessee sports bettors bet a record $551 million in October.
Oct. 25, 2024: Tennessee fines Bovada $50k (and counting), for accepting wagers without a license. The Sports Wagering Council (SWC) had actually formerly sent cease-and-desist letters to the online sportsbook’s Curacao address.
Oct. 18, 2024: Bally Bet formally goes live in Tennessee, making it the 12th online operator in the state.
Sept. 19, 2024: Tennessee Titans’ Nicholas Petit-Frere signs up with a sports wagering company as a fantasy specialist after being suspended for sports gambling previously.
Sept. 12, 2024: Tennessee increases its sports betting handle and earnings in August thanks to the return of football.
July 23, 2024: A Tennessee male wins $900K at Fanatic Sportsbook after correctly selecting the outcome of four 2024 T-Mobile Home Run Derby matchups.
July 22, 2024: SuperBook sports betting pulls out of eight post-PASPA states, including Tennessee.
July 12, 2024: Tennessee’s SWAC releases June sports betting numbers. With a $344.8 million deal with, TN sportsbooks see a 49% increase in year-over-year action.
March 12, 2024: Tennessee’s sports betting wagering handle falls listed below $400 million in February – an 18.6% month-over-month reduction.
Feb. 24, 2024: Tennessee’s sports betting handle continues to fall in January, generating $467.4 million in wagers, which is a 5.5% MoM decline.
Jan. 25, 2024: PrizePicks includes a brand-new peer-to-peer game in Tennessee and three other U.S. states – PrizePicks Arena.
Jan. 17, 2024: Tennessee’s sports wagering manage drops below $500 million in December, which is a 4.2% drop from November.
Nov. 14, 2023: ESPN BET goes deal with online and mobile sports betting wagering, launching in Tennessee and 16 other states.
Nov. 2, 2023: ESPN BET prepares to introduce on Nov. 14, 2023, with online sports wagering going live in 17 U.S. states, including Tennessee.
Aug. 11, 2023: WynnBET Tennessee reveals the closure of its online sports betting operation as quickly as possible.
June 28, 2023: Tennessee will soon tax sportsbooks based upon their wagering deal with rather of their profits.
June 13, 2023: ZenSports launches in Tennessee, making it the thirteenth mobile operator in the state.
May 18, 2023: Gov. Bill Lee authorizes changes to Tennessee’s sports betting tax guideline.
May 1, 2023: Fanatics Sportsbook launches its mobile app in Tennessee and Ohio.
April 27, 2023: Fanatics plans to release its sports betting app in Tennessee on Monday, May 1. Current Fanatics clients will get an unique code to access the app.
April 25, 2023: Yahoo obtains Wagr, a social peer-to-peer sportsbook in Nashville, TN.
April 21, 2023: Your home authorizes HB 1362, a changed version of the Senate’s SB 0475. If signed by Gov. Bill Lee, Tennessee will become the first state to tax sports betting operators on their total manage. A 1.85% tax on sports betting deal with would change the existing 20% tax on gross profits.
April 19, 2023: Tennessee sportsbooks take in $392.6 million in sports betting bets in March – a 20% bump from the state’s February manage.
March 1, 2023: Fanatics gets its mobile sports wagering license in Tennessee. However, it has no particular launch date planned.
Feb. 24, 2023: Following a strong proving in December, Tennessee’s sports wagering manage fell in January by almost 7%.
Feb. 15, 2023: The sports betting Wagering Advisory Council (SWAC) approximates that Tennessee lost out on about $11 million in tax revenue in 2022 because several operators – consisting of Caesars, DraftKings, and BetMGM – failed to strike the state’s 10% hold guideline.
Feb. 13, 2023: ZenSports, just recently obtained by KeyStar Corp, could become Tennessee’s 14th legal betting website if its application is approved.
Dec. 19, 2022: BetMGM is named a main sports betting partner of the Nashville Predators. The multi-year partnership consists of a BetMGM-branded restaurant and signage at Bridgestone Arena.
Dec. 15, 2022: November wagering equates to a new Tennessee sportsbook betting record, as wagering sites dealt with $439.5 million in wagers.
Nov. 11, 2022: Tennessee sports betting strikes a record high in October, as the state records an all-time manage of $405.3 million.
Oct. 24, 2022: Tennessee’s sports wagering regulator approves license renewals for BetMGM, DraftKings, FanDuel, and Action 24/7.
Oct. 18, 2022: Tennessee sports wagering in September saw a big increase compared to August, as online sportsbooks created more than $336.9 million in bets.
Sept. 6, 2022: Hard Rock Sportsbook releases in the state, becoming TN’s 11th active sportsbook.
Aug. 16, 2022: Tennessee becomes the 3rd state to introduce a Betly online sportsbook.
Aug. 3, 2022: Caesars Sportsbook becomes an official sports wagering partner of the Memphis Grizzlies.
April 27, 2022: SuperBook launches sportsbook operations in Tennessee.
April 14, 2022: Wagr, a Tennessee-based sportsbook, becomes the main sports betting wagering partner of the MLS’ Nashville FC.
March 10, 2022: The Tennessee sports betting Wagering Advisory Council (SWAC) approves 3 brand-new mobile sportsbooks. When Bally Bet, Betly, and SuperBook launch online operations, TN will depend on 13 licensed sportsbooks.
Feb. 17, 2022: Tennessee registers an all-time single-month record of $386 million in sports betting manage for January.
Feb. 10, 2022: Fubo is authorized as the 10th sportsbook for online betting in Tennessee. A launch date is not revealed.
Jan. 24, 2022: Wagr ended up being the very first peer-to-peer betting platform to get a license in the U.S. and is the ninth legally certified sportsbook operator in Tennessee.
Jan. 4, 2022: Record profits generated by Tennessee-licensed sportsbooks continue, with near to $40 million in November.
Jan. 1, 2022: SWAC takes control of the policy of sports wagering from the Tennessee Education Lottery.
Dec. 17, 2021: The Sports Wagering Advisory Council (SWAC) will assume sports betting regulatory responsibilities in January following a handoff from TELC.
Nov. 17, 2021: Tennessee becomes the fifth-fastest state to surpass $2 billion in bets, signing up $2.335 billion in sports betting handle throughout the very first 12 months.
October 2021: The Volunteer State tape-recorded its largest-ever monthly handle in September; Tennessee sits $40 million shy of striking the $2 billion mark for 2021.
Oct. 21, 2021: Bally becomes a sports betting partner of the Nashville Predators.
Sept. 8, 2021: Barstool Sportsbook releases in Tennessee.
September 2021: Barstool Sportsbook and Wagr, a social sports betting wagering app, get sports betting wagering running licenses from the Tennessee Education Lottery.
August 2021: Caesars acquires William Hill, and subsequently, the William Hill app is replaced by the Caesars Sportsbook app in Tennessee.
April 30, 2021: WynnBET launches online operations in Tennessee following its approval from the state’s Education Lottery.
March 2021: William Hill sportsbook launches in Tennessee with its mobile app.
Nov. 1, 2020: The very first online Tennessee sportsbooks go live, starting the state’s legal online sports betting industry.
September 2020: TELC authorizes its very first 3 sportsbook operators: DraftKings, FanDuel, and BetMGM.
April 2020: After months of criticisms and revisions, the Tennessee Education Lottery Corporation (TELC) approves settled regulations, including a 10% hold mandate for all operators. All operators are consequently permitted to start obtaining licenses.
Nov. 2019: The Sports Betting Advisory Council is assembled by Tennessee lawmakers. The council begins developing the initial draft of Tennessee sports wagering regulations.
July 2019: The Tennessee Sports Gaming Act formally ends up being sports betting law.
May 2019: Gov. Bill Lee allows the expense to become law without his signature. Despite being morally opposed to gambling in Tennessee, Lee believes legislating sports wagering is in the state’s benefit.
Nov. 2018: Rep. Rick Staples introduces a bipartisan bill to legislate Tennessee sports wagering.
In case you loved this informative article and also you would like to obtain more information with regards to sports betting kindly visit the site.
