Tennessee Sportsbooks Fined for Failing to Pay Winners

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00:00Now, this is an embarrassing story. I don't know who it's embarrassing for. You'll have

00:07to tell me here. It occurs in the state of Tennessee, where there's a couple of sports

00:13books that were fined because they couldn't pay the winners. I mean, is this an accurate

00:19story? If this is true, Pat, who's to blame here? Is it the state? Is it the sports betting

00:24operators? This can't be allowed throughout the country, can it?

00:29Well, Tennessee is an interesting market, and one of them is Fanatics. They self-reported

00:35that they allowed a couple of sports betting accounts that had self-excluded themselves

00:40to come off that list. Now, that was the state level one. They caught that they were also

00:45on their nationwide self-exclusion list, so they were able to say, well, we need to fix

00:51this code, did it, self-reported, agreed to a fine with the committee.

00:57Zen Sports, on the other hand, was found in December to not have enough money in their

01:01bank account to cover all their liabilities, and that's a big no-no. If you go to the story

01:09at Legal Sports Report, there's a huge stipulation that the spokesperson at the council sent

01:15me and said they didn't meet this. Apparently, it was just some financial not doing it right.

01:24I don't know how to put that, but supposedly, they've been good since then, and they've

01:30carried enough money in their account to cover all the liabilities, but again, you never

01:35know with these small operators and kind of operators at Zen Sports, not in any other

01:42state. You have to wonder, are they in trouble, and then what's going to happen after that?

01:48Again, a state just kind of interesting to watch, and like you said, not necessarily

01:52a great issue to get fined for, but again, so far, they say and the wagering council

01:58has said that they're in accordance with the law at this point, but who knows if they will

02:04be in the future? Again, we'll watch it closely and let you know.