Tennessee Renews Sports Betting Licenses for three big names

FanDuel, BetMGM and DraftKings have earned sports wagering license renewals. Action 24/7 was also approved for a license renewal. Tennessee's sports betting law only allows mobile operators to have a licence for one year and they must apply to renew their license each year.

Tennessee renews sports betting licenses for three big names. The sports gambling law went into effect in May 2019 and will be implemented in 2020. It's currently not legal for in-person sportsbooks.

The state has issued 13 sports wagering licenses so far. There are 11 sportsbooks operating in the state. BallyBet and Fubo Sportsbook are the last two to receive a license but they are not operational yet.

Tennessee sports betting industry has seen a lot of success since the launch. September was the third-highest earning month so far this year. The University of Tennessee football team is having one of its best seasons in recent history. In September sportsbooks brought in more than $336.9 million in gross wagers and paid out $290.6 million to bettors. Mobile apps have paid the state a combined $42. 6 million so so.