Sportsbook is violating the Tennessee Sports Gaming Act
Illegal offshore sportsbook Lowvig is to shut down immediately, according to the Sports Wagering Council (SWC).
The SWC recently sent the sportsbook a cease-and-desist letter to allow all Tennessee customers to withdraw any funds. According to the SWC, the sportsbook operates in the state, violating the Tennessee Sports Gaming Act by accepting wagers without a license and “has until May 29 to comply.”
Tennessee is the largest “online-only” sports betting market in the U.S., with more than $4.7 billion a year wagered in Tennessee through online sportsbooks licensed by the SWC. There is a $10,000 fine for the first offense of accepting wagers A single wager accepted in TN) without a license. That sum increases incrementally on each offense, 15,000 for a second offense and $25,000 for each time after.
Illegal sportsbook identifiers in TN are:
- Extending credit
- Wagering with cryptocurrency, and
- Offering casino games, such as slots or online poker, or chance-based wagers, such as the coin toss or the color of the Gatorade
“Eliminating illegal sportsbooks from Tennessee is a primary focus of the SWC with its mission to protect the public interest of Tennessee through a safe and regulated sports betting environment,” according to a release by the state.
In April, the SWC issued $150,000 in fines to Xbet, BetUS, and MyBookie. And then, in November, Bovada shut down after the SWC issued $50,000 in penalties to the illegal offshore sportsbook, according to the state.
“Additionally, any businesses in Tennessee working in conjunction with illegal offshore sportsbooks could face criminal penalties,” according to the release.
For more information, visit tn.gov/swac.
“Licensed online sportsbook operators provide important player protections not found in the illegal market, including protecting consumers, holding reserves to pay wagers, and keeping personal information secure,” SWC Executive Director Mary Beth Thomas said. “In stark contrast to our legal sportsbooks, illegal operators such as Lowvig choose to violate state and federal law and do not offer any of the same consumer protections the law requires of licensed entities, and we will continue our work to eradicate these bad actors from the market.”
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