The Tennessee Education Lottery (TEL) continues to target Nov. 1 as the “go-live date” for sports betting in TN, according to an update from the Board of Directors this week.
Recent actions by the Board include the conditional approval of another online sportsbook operator license, this one for the locally-owned sportsbook Tennessee Action 24/7.
Four online betting apps hope to launch in TN by Nov. 1
The TEL has been eyeing a Nov. 1 launch date for sports betting in the state since late August.
Once sportsbooks do launch, Tennessee bettors will enjoy a variety of options from the outset. That’s because four operators have had their licenses conditionally approved thus far in TN. Those operators are:
- FanDuel (Betfair Interactive US LLC)
- DraftKings (Crown TN Gaming, LLC)
- BetMGM (BetMGM, LLC)
- Tennessee Action 24/7 (Tennessee Action 24/7, LLC Action 247)
Tennessee lawmakers legalized sports betting more than a year ago, with the new law going into effect July 1, 2019. Unlike other states, in TN all sportsbooks will be entirely online with no retail sportsbooks permitted.
Monday’s update also reported the Board’s Sports Wagering Committee had approved five supplier applications and six more vendor applications.
There are no restrictions on the number of licenses the TEL can issue to operators of sportsbooks in the state.
TEL President and CEO Rebecca Hargrove alluded to the Board’s continued efforts during the final weeks leading up to the online sportsbooks’ debut.
“We are working diligently with all applicants as we establish and support a responsible and competitive sports wagering program in Tennessee,” said Hargrove.
The next meeting of the TEL Board will be Oct. 16.
Tennessee Action 24/7 to compete with established sportsbooks
Tennessee Action 24/7 will provide sports bettors a local alternative to established industry players FanDuel, DraftKings, and BetMGM when the sites go live.
Based in Nashville, Action 24/7’s investors and employees are all in-state. Its president, Tina Hodges, also heads Advance Financial, a payday loan provider also located in Nashville.
“We believe we have a home-field advantage that will be hard for competitors to match,” Hodges told The Tennessee Star.
Action 24/7 currently has 10 employees. Hodges hopes Action 24/7 will follow the same pattern of rapid growth as Advance Financial. According to Hodges, the goal is for Action 24/7 to have 50 employees by the end of its first year.
Hodges described the site’s intention not only to be competitive but to “dominate” the market. She also noted plans to “have local events for our Tennessee players.” Such events could include tailgates and player activities following the lifting of COVID-related restrictions.
That local emphasis and personal touch will likely prove central to Action 24/7’s marketing strategy.
“Our customers will rave about our service, our employees will recommend us to their friends and family and our communities will speak highly of us as good corporate citizens,” said Hodges.
FanDuel, DraftKings, and BetMGM’s operator licenses were all conditionally approved in late September. Indeed, the big names could have a slight head start on Tennessee Action 24/7, as the latter is still awaiting completion of regulators’ background check on its provider, Amelco.
Meanwhile, one of Action 24/7’s soon-to-be competitors made other news as well.
Last week the Tennessee Titans announced a partnership with BetMGM, becoming the first professional sports team in the state to do so. As a new official partner, expect to see the BetMGM logo on the Titans’ digital platforms in the near future.