- The Tennessee Sports Wagering Council has fined Bovada $50,000 for illegal sports betting
- Tennessee regulators have issued several cease-and-desist regulators to the offshore sportsbook
- The sports wagering council imposed three separate fines to the offshore book
Tennessee sports betting regulators have taken action against Bovada, an unlicensed offshore sportsbook in Curaçao, further than any other recent state gaming commission.
While most gaming regulators have issued cease-and-desist notices to the offshore sportsbook, the Tennessee Sports Wagering Council has issued $50,000 in total fines to the company after investigators placed bets on Bovada’s platforms on three separate occasions.
This followed the issuance of several cease-and-desist notices to the companies, in which regulators ordered Bovada to cease action in the state and allow all Tennessee users to withdraw funds currently held in the sportsbook.
Tennessee Regulators Urge Withdrawal
Tennessee regulators are urging all state customers with funds in Bovada accounts to withdraw their funds immediately from the unlicensed sportsbook.
“The Sports Wagering Council recommends that Tennessee users of Bovada withdraw their funds immediately,” Mary Beth Thomas, executive director of the sports wagering council, said in a press release. “Our primary role is the protection of the public interest through a safe, regulated environment, and Tennessee sports bettors need to know that just because they can access a sports betting website or app inside Tennessee’s borders does not mean it is licensed to do business here.”
In response to Bovada still offering its services in the state, the Tennessee Sports Wagering Council has fined the company for three separate occasions. Tennessee sports betting law allows the council to impose a $10,000 fine for a first offense of accepting illegal sports bets, $15,000 for a second offense, and $25,000 for a third offense.
The council has issued three separate fines for a total of $50,000.
However, it remains to be seen if Bovada will acknowledge the fines from the council, or what further action Tennessee regulators can take against the company. The company is notorious for not acknowledging communications from U.S. sports betting regulators, but will likely add Tennessee to its list of restricted states at some point in the future, as it has with 15 other markets.
The Tennessee Sports Wagering Council did not respond to a request for comment on next steps from Sports Betting Dime.
Bovada Restricting Access in Several States
Several state regulatory gaming bodies have issued cease-and-desist letters to Bovada over the course of the last year, ordering the offshore gaming company out of their markets. Bovada has mostly agreed to these notices, restricting access to 14 states and Washington, D.C. As was the case in all of these markets, Bovada never acknowledged the notices or told the states of their plans to restrict access.
Most recently, Bovada added Massachusetts to its restricted market list. Prior to that, Bovada also restricted access in Kansas, Louisiana, and Pennsylvania. All three states had sent the illegally operated offshore gaming company a cease-and-desist notice, Bovada never acknowledged receipt of the notice, and then added the states to its list of restricted markets without any notice.
The restricted U.S. markets are as follows:
- Colorado
- Connecticut
- Delaware
- Kansas
- Louisiana
- Maryland
- Massachusetts
- Michigan
- Nevada
- New Jersey
- New York
- Ohio
- Pennsylvania
- Washington, D.C.
- West Virginia
Tennessee Regulators have recently imposed a fine on Bovada, a popular online sportsbook, for operating illegally in the state. The fine, which amounts to $150,000, comes as a result of Bovada’s failure to comply with Tennessee’s strict regulations regarding online gambling.
Bovada, which is based in Costa Rica, has been offering sports betting services to Tennessee residents without obtaining the necessary licenses from the state’s regulatory authorities. This is a clear violation of Tennessee law, which requires all online sportsbooks to be licensed and regulated by the state in order to operate legally.
The fine imposed on Bovada serves as a warning to other online sportsbooks that may be operating illegally in Tennessee. The state’s regulators are cracking down on unlicensed operators in an effort to protect consumers and ensure that all gambling activities are conducted in a fair and transparent manner.
In addition to the fine, Bovada has also been ordered to cease all operations in Tennessee until it obtains the necessary licenses. This means that Tennessee residents will no longer be able to place bets on Bovada’s platform until the company complies with the state’s regulations.
This incident highlights the importance of adhering to state regulations when it comes to online gambling. By operating illegally, Bovada not only put itself at risk of fines and penalties, but also jeopardized the safety and security of its customers. It is essential for online sportsbooks to follow the law and obtain the proper licenses in order to protect both themselves and their users.
Overall, the fine imposed on Bovada by Tennessee regulators sends a clear message that illegal gambling activities will not be tolerated in the state. It serves as a reminder to all online sportsbooks to comply with regulations and operate within the confines of the law in order to avoid facing similar consequences.
