Source link : https://theamericannews.net/america/curacao/tennessee-fines-bovada-50000-and-counting/
The Tennessee Sports Wagering Council had previously sent cease-and-desist letters to the online sportsbook’s Curacao address.
Oct 25, 2024 • 19:40 ET
• 4 min read
The Tennessee Sports Wagering Council (SWC) issued Bovada.lv three fines, totaling $50,000, for accepting wagers without a license.
The SWC had previously sent cease-and-desist letters to the online sportsbook’s Curacao address. Afterwards, SWC investigators were able to place wagers on Bovada’s platform on three separate dates, including a wager placed on Oct. 16.
Tennessee’s Sports Gaming Act allows the council to issue a $10,000 fine for a first offense of accepting a wager without a license. A fine for a second offense is $25,000. A third offense – and any offenses thereafter – garner a fine of $25,000 each. So, while Bovada has already racked up $50,000 in fines, the tally could rise with subsequent wagers.
Bovada had been flying under the radar screen for years, offering its online services across America. It has only been lately, that states have begun to crackdown on unlicensed operators like Bovada.
Until now, Bovada has been quick to comply with cease-and-desist letters. Massachusetts sent Bovada a cease-and-desist order on Oct. 3 and the Bay State is already on the restricted list. The same was true for Louisiana, West Virginia, Ohio, Colorado, and Michigan. Currently 14 states and the District of Colombia are posted on Bovada’s restricted list.
Bovada, however, has still not restricted Tennessee. It’s unclear why Bovada hasn’t yet complied with Tennessee’s demands – or why it could be setting itself up to receive even heftier fines.
Meanwhile, the SWC is warning Bovada’s Tennessee sports betting customers to withdraw their funds from the unlicensed sportsbook as soon as possible. The council is also reminding the public of the risks associated with illegal providers. Illegal sites are under no legal obligation to protect financial and personal information. And if their funds disappear or are withheld from an unlicensed provider, bettors may have no legal recourse.
“The Sports Wagering Council recommends that Tennessee users of Bovada withdraw their funds immediately,” said Mary Beth Thomas, SWC executive director. “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 its is licensed to do business here.”
Like other state regulators, Tennessee’s SWC is working closely with state and federal law enforcement to curb illegal sports book operators.
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