Tennessee Sports activities Betting Deal with hits $ 27 million in first week
It didn’t take long for the residents of Tennessee to show that they were ready and waiting for legal sports betting to begin.
Sports bettors almost bet $ 27.4 million in the first week of legal sports betting in Tennessee. That led to $ 2.5 million in cell phone-only revenue, good for 9.3% stop.
These sums include $ 5.1 million Bet on November 1st, an NFL betting Sunday when the market officially went live. The four operators of the market took $ 800,000 in revenue from these day-one bets.
These numbers, along with the volume of transactions and the total number of active users in the first week, are encouraging. Tennessee Education Lottery CEO Rebecca Paul Hargrave said.
No details in Tennessee Sports Betting Numbers
The lottery did not break down which operators did what during the eight day period. There are still only four operators on the market:
Three other operators are waiting for their licenses to be approved:
- William Hill
The lottery hopes to convene a special meeting by the end of the year to approve these licenses, Hargrave said.
Not all operators meet the requirements
Some aspects of TN sports betting are not going as smoothly as the lottery would like.
For example, all operators should pre-approve all promotional materials and promotions before use. However, according to the discussion on Monday, this is not always the case Sports betting advisory board To meet.
Daily reports are also required from all operators, but sometimes they come too late or not at all.
10% also consider violations to be discussed
There still seems to be confusion about how exactly the operators can be held responsible for not hitting the lottery 10% minimal hold.
One councilor suggested a single one $ 25,000 A year-end fine would be considered a “business expense”.
The lottery has the right to impose “additional recourse” for non-compliance.