Tennessee Education Lottery “Thrilled” With New Bill
Organizations usually aren’t happy when power is taken from them, but that’s not the case in the state of Tennessee.
The Tennessee Education Lottery (TEL) is losing power over sports betting, and that’s perfectly fine with them.
Tennessee Governor Bill Lee signed SB 588 into law last Thursday after it was passed by lawmakers in the state. This bill included many things but was focused on changing the top regulatory body of sports betting in Tenneseee.
This bill won’t go into effect until January 1, but that is when the Sports Wagering Advisory Council (SWAC) will take over. These two groups have been working together, but there will be a shift in power.
These two groups will begin working on a transition of power, and the first meeting is set for June 1. The hope is that the SWAC, a group made up of just five members, will get the industry back on track.
Rebecca Hargrove, CEO of the TEL, had this to say about the decision. “We are elated with the legislation as it passed. We believe our organization is an operational organization that acts more as an operator than a regulator. So to have a regulator regulating sports betting is a very positive outcome.”
It has been a busy and challenging few months for the TEL since sports betting first launched on November 1. There are now seven online sportsbooks in the state, and the market has set several industry records in the first few months.
Both Action 24/7 and William Hill have come under investigation from the TEL since the beginning of 2021, and the organization has received criticism for how the investigations were handled. Action 24/7 actually had its license suspended for a time, but it was ultimately reinstated.
There are still at least five license applications waiting for action in Tennessee, and the SWAC will likely be the group that makes that decision. New rules have also been proposed as the state looks to improve the industry.
Can Titans Land Julio Jones?
The 2021 NFL season won’t begin until September, but the league is always popular with sports bettors. The Tennessee Titans are expected to be Super Bowl contenders this season, but that roster could still even get better before the season begins.
The Atlanta Falcons are reportedly looking to trade Julio Jones, and he wants out of Atlanta. Teams are lining up for a shot at getting the All-Pro wide receiver, and sportsbooks have set betting lines on where he will land.
Sportsbooks in Tennessee are taking advantage of this prop betting option as the Titans are a team needing a receiver. The Titans have players openly recruiting Jones, and that has affected the odds as well.
The Tennessee Titans opened up at +800 to land Jones via trade, but those odds with FanDuel have now been slashed all the way to +500. The New England Patriots are the favorites at +450, but there is plenty of money on the Titans.
Check back for more TN sports betting updates and the latest sports news in The Volunteer State.
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