It’s been a tough year for those first tasked with regulating sports betting Tennessee. By the end of this year it will no longer be their concern.
Governor Bill Lee signed SB 588 Thursdaythat the TN sports betting regulation from the Tennessee Education Lottery to the Advisory Board for Sports Betting.
The change takes place January 1st, 2022 although the TEL said it was ready to work with the SWAC on the switch. The council meets next in the TEL offices Tuesday.
Ready to hand over sports betting regulation in Tennessee
At last month’s SWAC meeting, TEL did not seem to have any uncomfortable feelings about relinquishing regulatory obligations.
“We are enthusiastic about the legislation passed”, TEL CEO Rebecca Hargrove said. “We believe our organization is an operational organization that acts as an operator rather than a regulator. So it is a very positive result to have a regulator for sports betting. “
“That is why we are very happy and eager to work with you on how to best implement what you need to implement.”
Problems with TN sports betting
This is not particularly surprising when you consider how much attention TN sports betting has drawn to the TEL. Just two months ago, his board of directors imposed the first suspension of the US sports betting license Action around the clock.
However, the suspension was not properly handled, resulting in Action 24/7 obtaining an injunction. The TEL then tried to correctly restart the disciplinary proceedings against the TEL, but found that this was not possible.
This resulted in the board waving its white flag earlier this month announcing that Action’s license is in good shape.
A lot of work is waiting for SWAC
The SWAC does not have much time to get started as a regulator and there is a lot to do.
The council must recruit staff and review existing rules and regulations for possible changes. TEL is also waiting to hear what its board of directors should do next as the sports betting regulator, including handling operator applications.
At the meeting earlier this month, five license applications were pending.