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Tennessee goes live as first online-only sports betting market in the US

2nd November 2020 8:15 am GMT

Tennessee has become the latest state to regulate online sports betting in the United States, with four operators going live on Sunday.

With no land-based casinos in the state, Tennessee is the first to roll out an online-only sports betting program in the US, having approved its first operator licensees in September.

Four operators launched online in the state on Sunday - BetMGM, FanDuel, DraftKings, and Nashville-based Action 24/7.

DraftKings said that anticipation and appetite for sports betting was high in the state, which is home to three major sports leagues and a number of NCAA Division I teams.

“As DraftKings Sportsbook continues to expand across America, we couldn’t be more excited for the opportunity to launch our No. 1 rated sportsbook product in Tennessee,” said DraftKings North America co-founder and president Matt Kalish.

“Judging by the rabid fanbases following the local pro teams and the powerhouse college sports teams, we’re certain that Tennesseans will be among the most engaged skin-in-the-game sports fans we’ve seen. We can’t wait to serve Tennessee with the unrivaled DraftKings experience.”  

To mark the launch of its online sportsbook in the state, Flutter Entertainment-owned FanDuel Group brought in pro and college football legend Eddie George to place the first bet with the FanDuel Sportsbook on Sunday. 

“We know how passionate sports fans in the state of Tennessee are and we are no different, but our true passion is all about our customers,” said FanDuel chief marketing officer Mike Raffensperger.  “We are excited to offer a sports betting app experience that brings fans closer to the game with a number of unique sports betting opportunities, promotions and offers right in the palm of their hands.”  

FanDuel has developed its own in-house account and wallet technology to serve as the backbone of the new operating system of the FanDuel app in Tennessee, which also connects to FanDuel’s popular fantasy sports app, allowing customers to interchange fantasy sports and sportsbook winnings.

Tennessee is the 9th state to offer DraftKings’ online sportsbook and the 8th state for FanDuel, while the BetMGM app is currently available in seven US states.

Shares in Draftkings Inc. (NSQ:DKNG) closed down 5.27 per cent at $35.40 per share in New York Friday, while shares in Flutter Entertainment plc. (LSE:FLTR) were trading marginally higher at 13,370.00 pence per share in London Monday morning.

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