The Sports Wagering Council has imposed fines on both Lowvig and Sportsbetting.ag. In the US, the Tennessee Sports Wagering Council (SWC) issued a penalty of $50,000 to each offshore sportsbook, Lowvig and Sportsbetting.ag, for illegally providing betting services in Tennessee. These companies did not follow cease-and-desist letters sent by the regulator in April.

Crackdown on Illegal Sportsbooks and Penalty Structure

As per the SWC, these companies bring the count to six and seven among illegal operations penalized so far. The SWC declared, “The main goal for us is removing unlicensed sportsbooks from Tennessee to keep betting safe and under control to protect the state’s interests.”

SWC mentioned that any company in Tennessee that helps offshore illegal sportsbooks may have to deal with criminal consequences. The Sports Gaming Act gives authority to fine $10,000 for the first violation when bets are taken without a license, then $15,000 for a second time, and $25,000 for a third violation. If violations keep happening, every next offence allows for a $25,000 fine.

New Consumer Protection Measures and Regulatory Updates

Mary Beth Thomas, the SWC executive director, said: “Tennessee is the biggest online-only sports betting market across the US, with more than $5 billion wagered this fiscal year, and licensed bookmakers in Tennessee must pass strict checks before they can start operations. Illegal sites, however, never provide these legal consumer protections; by using an unlicensed sportsbook, customers give away private and money information directly to criminals.”

New sports betting regulations in Tennessee have now been published by the regulator. The rules take effect on June 30 and bring in multi-factor identification steps for many account actions, set more rules for responsible gaming, and describe fresh processes for voiding or cancelling bets. These updates also cover changes for know-your-customer (KYC) requirements, set out new standards for marketing and ads, and bring other conditions too.