Betly Launches in Tennessee, Becomes 13th Sportsbook in Volunteer State
Posted on: August 21, 2022, 08:53h.
Last updated on: August 22, 2022, 01:26h.
There’s now a baker’s dozen of sports betting options in Tennessee.
This past week, Betly became the 13th sportsbook licensed to operate in the Volunteer State. Betly runs on a platform created by Gamewise, a joint venture of gaming and hospitality company Delaware North and Belgian-based gaming operator GAMING1.
Tennessee is the third state where Betly has launched, joining West Virginia and Arkansas. Delaware North operates casinos in both states, with the Southland Casino Hotel in West Memphis, Ark., about five miles from the Tennessee state line.
“We’re proud to see our technology performing so well in the United States and look forward to continually improving our app’s functionality,” said Victor Araneda, GAMING1’s chief business development officer, in a statement. “We strongly believe in the value our omnichannel partnership with Delaware North will provide Tennessee bettors.”
Earlier this year, Southland opened a new casino. It features 2,400 slot machines and up to 50 live-dealer table games as part of a $320 million expansion project that also includes a hotel. The first section of the hotel opened last month, and construction on the remainder is slated to be completed this fall. When finished, the casino’s hotel will offer 300 rooms, including 60 suites and 12 penthouses
The release announcing the Tennessee launch noted the large customer base Southland has in Tennessee. It said the app is meant to complement the casino’s retail sportsbook.
“Just like in Arkansas, Betly Tennessee is coming from Southland, a trusted brand with local roots,” said Delaware North Gaming Vice President of Marketing Luisa Woods.
Betly Won’t ‘Scare Casual Sports Fans Away’
As previously noted, Betly joins a crowded field in Tennessee, where only online sports betting is allowed. The other operators licensed by the state are Bally Bet, Barstool Sportsbook, BetMGM, Caesars Sportsbook, DraftKings, FanDuel, Fubo, Hard Rock, SuperBook, Tennessee Action 247, Wagr, and WynnBET.
To stand out in the crowd, Woods said the Betly app offers a user friendly interface that’s not intimidating, especially for those new to sports betting.
Betly has innovative features specifically designed to engage and entertain sports fans, but we use familiar terminology and aren’t pushing high-dollar offers that can scare casual sports fans away,” Woods said.
Betly’s launch in Tennessee comes as college and pro football seasons prepare to kick off in the next couple of weeks.
Sports Betting Handle Down, Revenue Up in July
This past week, the Tennessee Sports Wagering Advisory Council posted its July report.
Not surprisingly, July was the lowest month of the year so far in terms of handle, since fewer sporting events are held during the month.
The collective handle was $182.8 million, down 15.3% from June’s $215.8 million. However, the sportsbooks won more, as the $18.3 million in adjusted gross income was 43.3% higher than the $12.8 million they earned in June.
Tennessee taxes sports betting adjusted gross income at 20%, so the state received $3.7 million from the licensed operators last month.
Through the first seven months of the year, Tennessee sportsbooks have taken $2.02 billion in wagers, with bettors winning $1.85 billion. Thanks to the $145.2 million in adjusted gross income, the state has collected more than $29 million in taxes.
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