Illegal Sportsbook Shut Down In Tennessee

NASHVILLE - The illegal offshore sportsbook Bovada is no longer open for business in Tennessee.

The Curacao-based sportsbook, unlicensed in Tennessee, notified account holders on Tuesday Nov. 5 that it is permanently closing Tennessee accounts and returning available balances to Tennessee account holders.

In cease and desist letters sent in recent months, the Sports Wagering Council ordered Bovada to allow all Tennessee users to withdraw any funds currently held by the unlicensed sportsbook. After the SWC assessed a $50,000 penalty for illegally operating in Tennessee, Bovada began to take steps to comply with the SWC's orders.

"Our licensed sportsbook operators provide important consumer protections not found in the illegal market, and the closure of Bovada's virtual doors in Tennessee is an important step toward the eradication of unlicensed, illegal sportsbooks in Tennessee," Billy Orgel, chairman of the Sports Wagering Council, said. "One of the Council's primary roles is the protection of the public interest through a safe, regulated environment, and our staff will continue to work closely with our network of law enforcement at the state and federal level to eliminate illegal sports betting."

Licensed sportsbooks must protect consumers, including holding reserves to pay wagers and keeping personal information secure. Licensed sportsbooks must also follow certain restrictions under state law, such as preventing individuals under 21 years old from wagering and prohibiting wagering on credit.

A study commissioned by the American Gaming Association estimates that Americans wager nearly $64 billion annually with illegal online sportsbooks and bookies.

If an individual wagers with unlicensed sportsbooks, their sensitive financial and personal information may not be protected and could even be shared with criminal enterprises. The bettor's money could be withheld or disappear without a way to recover it.

Tennessee is the largest "online-only" sports betting market in the U.S., with more than $4.7 billion wagered in Tennessee last fiscal year through online sportsbooks licensed by the Council.

For a list of sportsbooks legally licensed to do business in Tennessee, click here to visit the Council's website.

About the Tennessee Sports Wagering Council

The Tennessee Sports Wagering Council's primary role is to protect the public interest of Tennessee through a safe, regulated sports gambling environment. The SWC oversees the licensing and registration process for online sports wagering operators, sports wagering vendors, and fantasy sports operators, and monitors and enforces compliance with the Tennessee Sports Gaming Act and the Tennessee Fantasy Sports Act and related rules, including the assessment of the State's privilege tax on sportsbooks.

###