The Tennessee Lottery has begun accepting applications online sports betting licenses.
The Tennessee Education Lottery (TEL) is now accepting applications for online sports wagering licenses in the state.
This news comes after the TEL approved rules and processes for sports wagering in Tennessee at a meeting held last week.
Tennessee sports betting applications
The TEL has updated its website with all the documentation necessary to apply for a sports betting license. Applications are split into four separate categories which include sports gaming operator, vendor, supplier and operator and supplier.
Karen Lenoir will be working as the contract compliance coordinator for the TEL’s sports betting licensing process.
Applicants will be required to pay a $750,000 fee for Level I (sports betting operator) licenses and a $75,000 fee for a Level II (sports wagering supplier) license. On top of this, applicants will have to pay a non-refundable $50,000 application fee.
Level III licenses, which relate to contractors, subcontractors and independent contractors that provide Level I or II licenses, will cost $7,500.
The TEL Board will have 90 days to approve or deny a sports wagering license application once a submission has been made. There is no limit on how many licenses may be issued by the state regulator, however, all applicants must meet the requirements set by the state.
Sports betting in Tennessee
In late May, Tennessee became the fourth state to legalize sports betting in 2019. Governor Bill Lee allowed the state’s sports betting bill to pass into law without his signature, despite being opposed to the expansion of gambling.
In a statement, Lee said: “I do not believe the expansion of gambling through online sports betting is in the best interest of our state, but I appreciate the General Assembly’s efforts to remove brick and mortar establishments. This bill ultimately did not pursue casinos, the most harmful form of gambling, which I believe prey upon poverty and encourage criminal activity.”
As there are no casinos in Tennessee, residents will be able to bet on sports online or via a sports betting kiosk.