Barstool Sportsbook & Wagr to offer betting in Tennessee
The state of Tennessee will finally be getting two new sports betting operators after there has been much anticipation and an even longer wait.
This announcement comes after the Sports Wagering Committee of the Tennessee Education Lottery held a meeting on Tuesday.
The TEL has continued to announce that it was working to approve new sportsbook operators, but there were a number of applications that still needed to be reviewed. A decision was made to approve both Barstool Sports and Wagr on Tuesday.
When Barstool and Wagr officially launch in the state, it will drive the total number of Tennessee sportsbooks up to nine. The Tennessee market has started to produce disappointing results of late, but adding new options should help get the market back on track.
Barstool has not set a potential launch date at this time, but this company has been able to launch quickly in other states. Penn National Gaming is behind the Barstool Sportsbook after it acquired a large portion of Barstool last year.
Wagr is a brand new name to the US sports betting industry, and it plans to launch its online sportsbook on November 1. That would be the one-year anniversary of Tennessee sports betting and would allow it to take advantage of betting on the NFL.
This company was only recently founded in 2020, and it applied for a business license in the Volunteer State in January 2021. Wagr has announced that it plans to open up a headquarters in Nashville as this is the only state that it will be offering online sports betting.
Wagr is a social wagering platform, and interaction between peers will be featured on the site. The TEL made it clear to Wagr that it had to operate as a social wagering site as opposed to a peer-to-peer betting site.
Barstool has become extremely popular in other states throughout the US as Barstool Sports has a massive following in the US. The followers are known as “Stoolies,” and this operator will look to target a much younger demographic of sports bettors.
New Markets Also Coming
Not only did the TEL approve two new sports betting operators, but it also added new available betting markets in the state. There have been a number of requests filed to the TEL over the last few months in hopes of getting some new markets added.
One major change came in the form of allowing both men’s and women’s sporting events to be available for the sports that are listed. There will be certain instances where it only applies to men, but the rest are left up to the sportsbook.
Sportsbooks in Tennessee are now also authorized to accept bets on preseason, exhibition, and All-Star Games. Additional markets were also added to the list of approved betting events, and the complete list can be found on the TEL website.
The TEL was also looking to make a firm decision on eSports, and the group decided to allow this form of betting moving forward. Only those leagues and games that have received approval from the TEl can be offered by the sportsbooks.
Check back for more TN sports betting updates and the latest sports news in The Volunteer State.
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