Two other sports betting providers were approved for betting in Tennessee on Friday. Unfortunately, they won’t be live in time for a crucial event: that Super bowl.
Both William Hill and WynnBET received their formal permits from the Tennessee Education Lottery. However, neither will be live next for Super Bowl betting for a variety of reasons Sunday.
This expands the list of approved TN sports betting providers seven, with only the original four live from launch. Churchill DownsThe start is still pending.
ZenSports, the only other operator with a pending Tennessee license, was not discussed at Friday’s meeting.
Tennessee Sports Betting has had a solid first two months
The first two months of sports betting in Tennessee were not in the charts compared to previous state launches.
Tennessees took four mobile sports bets $ 180.9 million up for bets in the last month 37.7% in his first month in November. Sports betting payout was $ 13.9 million in December 5.3% from $ 13.2 million in the previous month. That was the same $ 3.1 million in tax revenue according to the one-part state report.
No doubt the handle was so high thanks NFL Bet on the four Tennessee Titans Games in December. It was also the first opportunity for bettors to legally bet on them Memphis grizzlies as the NBA started around Christmas.
Tennessee is also likely to see a lot of extra-state traffic pushing its boundaries to wager. The Volunteer state Has eight Border states, but none offered mobile sports betting in December. Arkansas offers retail betting and mobile sports betting in Virginia just started last week.
The hold request begins in January
We received the results from December JanuarySome operators have had a difficult start to the year. Hold was 7.7%, down from 10% in November.
January is the first month in Tennessee hold 10% mandatory is in effect. Sports betting could be penalized if they don’t keep at least 10% per year, although it is still unclear how high these penalties could be. It could stop at a $ 25,000 well, or that Tennessee Education Lottery could “impose additional recourse”.
If it’s only a $ 25,000 fine, don’t necessarily expect a 10% hold in January or January February, either. Sportsbooks easily spend more than $ 25,000 when it comes to promotions for major sign-up events like the NFL playoffs and so on Super bowlso the fine could only be viewed as an additional cost.