Three new sportsbooks may soon be stepping up to the plate in Tennessee.
Volunteer State bettors could have seven licensed operators to choose from come 2021.
New Tennessee sportsbooks may be approved by the end of the year
The following companies launched on Sunday, Nov. 1 as the state’s first four sportsbooks:
The Tennessee Education Lottery (TEL) is currently processing applications from Churchill Downs, William Hill and Wynn Interactive.
The TEL intends to approve these operators during its December board meeting.
William Hill was founded in London back in 1934 by the namesake himself. Since then, the company has opened over 2,000 brick-and-mortar locations across the UK, becoming the largest global betting brand.
The operator expanded into the US in 2012, determined to offer Americans a superior sports betting experience.
Now, William Hill operates in 13 states as well as the District of Columbia, and accredits itself as “America’s No. 1 Sportsbook.”
Caesars Entertainment acquired William Hill on Sept. 30, 2020, intent on catapulting the sportsbook into top-ranking performance.
The operator aims to ultimately have a presence in every state where sports betting is legal.
Churchill Downs, Inc.
Churchill Downs began in 1875 as a racetrack in Louisville, Kentucky, hosting the annual Kentucky Derby. Determined to become a premier gaming and entertainment company, the brand broke ground on multiple racetracks and established Churchill Downs Incorporated (CDI) in 1928.
Industry expansion and regulation encouraged subsequent modernization. As a result, CDI established BetAmerica in 2007, offering a secure betting option in the legal market.
BetAmerica began as a horse race betting operator and has since grown to incorporate sports betting, poker and casino games to select states.
Horse race betting is available in most states through BetAmerica Racebook. Its sportsbook, on the other hand, is currently only operational in New Jersey, Pennsylvania and Indiana.
Tennessee will be BetAmerica’s fourth sports betting market.
The Nevada-based casino operator Wynn Resorts recently entered the online gaming industry through Wynn Interactive.
With a product-oriented strategy in mind, Wynn Interactive then partnered with the UK-based company BetBull. Wynn branded its sports betting ventures as BetBull in the UK and as WynnBET in the US.
WynnBET launched in New Jersey this August. Indiana and Colorado followed soon after.
Tennessee is the current focus in the brand’s expansion plan, with Virginia and Michigan next on the horizon.
The sportsbook anticipates doubling market access by the end of 2021 with its aggressive state-side approach.
Tennessee is quick to expand with new sportsbooks
Sports betting was certainly slow to roll out in Tennessee, but the TEL has wasted no time on the path to approving new licenses.
After all, the more sportsbooks approved, the more potential tax revenue for the state.
Tennessee’s four sportsbooks raked in almost $2.5 million in revenue during the first eight days of regulated betting.
From that revenue, the state collects a 20% privilege tax on adjusted gross income. This annual tax is then dispersed across several state projects.
With three new sportsbooks warming up on the sidelines, and no limit to the number of operators permitted, Tennessee is positioned to knock 2021 out of the ballpark.