The state of Tennessee is set to launch sports betting in just two weeks, moving up the launch date to October 30, 2020. The initial target date was November 1, 2020, but it appears that the state is looking to cash in on an extra weekend of NFL football.
Tennessee has been extremely slow and deliberate in getting things ready to go for launch, but everything seems to be falling into place. According to the Tennessee Education Lottery Corp, four operators will be ready to go on the launch date.
There have been seven sports betting licenses announced as available by the state, and four of those have already been accounted for. Tennessee is expected to launch sports betting with some of the biggest names in the sports betting industry.
BetMGM, DraftKings, and FanDuel have already received sports betting licenses, and these three operators will be ready to launch on October 30. Tennessee Action 24-7 has also received a conditional license, and that company will be ready to go on the first day that the industry is live.
All Mobile in Tennessee
The state of Tennessee is taking a new approach to the sports betting industry, as all of the betting will be done online. Tennessee will become the first state in the US to launch a sports betting industry that does not allow for retail sports betting.
There are currently no brick and mortar casinos in Tennessee, and racetracks will not be allowed to apply for a sports betting license. The state is relying on mobile operators to apply for a license, and some of the biggest names have already done so.
Plenty of Teams to Drive Sports Betting
Even though Tennesse is not thought of as one of the top sports states in the US, there are plenty of teams that will help drive sports betting when it launches.
The Tennessee Titans of the National Football League are extremely popular throughout the state, and they will likely bring in the most action. The Tennessee Volunteers college football team will be a popular bet as well.
Outside of football, the Memphis Grizzlies of the NBA and the Nashville Predators of the NHL are two other popular teams in the state. Memphis and Nashville are the two biggest markets in the state, and these two cities should produce a majority of sports wagers.
Indiana A Leader in the Midwest
When the state of Tennesse first started to discuss sports betting, they were looking to take over the Midwest Region of the United States. The delay in launching the industry has set the state back, and now there are several states in that portion of the country that have launched sports betting.
Indiana launched sports betting in September 2019, and that state has emerged as the clear leader in that part of the country. Total sports betting handle in Indiana totaled more than $207 million last month, and it won’t be easy for Tennessee to match those numbers.
Since March, Illinois and Michigan have also launched sports betting, creating plenty of extra competition for the state of Tennessee.