Two new online sportsbooks receive approval in Tennessee

Barstool and Wagr receive approval for sports betting licenses in Tennessee

The Tennessee Education Lottery has revealed two new sports betting operators have been given approval for sports wagering in Tennessee. Social betting app Wagr and the Barstool sportsbook have been given the green light to go live in the Volunteer State. With the addition of these two new online sportsbook apps, Tennessee will have nine in the state. The other apps are DraftKings, BetMGM, Action 24/7, Caesars Sportsbook, TwinSpires, FanDuel, and WynnBet.

Barstool Continues Expansion

According to the brand’s owners Penn National, the Barstool sportsbook is rapidly expanding and will be live in 10 states by the end of 2021. Once it has launched in Tennessee, Barstool will be available for Michigan sports betting, Pennsylvania sports betting, Virginia sports betting and Illinois sports betting.

In July, Penn National announced it had agreed to a multi-year market access partnership as the exclusive sportsbook of Phoenix Raceway. The deal was finalized ahead of the September 9 launch of sports wagering in Arizona.

Penn National is aiming to have Barstool live in as many states as possible for NFL betting this fall.

Wagr new to Sports Betting Market

Wagr describes itself as “a social, simple and inclusive betting experience built for fans.” The app wants to highlight the social element of betting, stating, “challenge your friends, not the house.”

Players who access the app can bet with friends or family. Additionally, if a bettor has no one to wager with, the app will match them with a gambler in their state.

In April, the Tennessee Education Lottery announced that it would consider approving sportsbooks that provided peer-to-peer betting, but Wagr isn’t that. The company still sets the odds, and players wager against the app.

Tennessee is one of a small number of states that provides online-only sports betting. The TEL reported all mobile handle in July was $144.6 million. This was a decrease of 17.2% decrease from the $174.5 million posted in June. Most states have seen a huge drop in sports betting activity over the last few months, which is mainly due to the lack of sporting events taking place. The NFL season kicks off this week which will give a huge boost to the industry.

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