Tennessee’s Sports Wagering Council (SWAC) has taken a firm stance against offshore iGaming operator Bovada, imposing a $50,000 fine on the company. This move comes after numerous cease-and-desist letters were sent to Bovada by state regulators, including SWAC, throughout the year. Despite receiving multiple warnings, Bovada has continued to operate in various states, prompting SWAC to take action.
SWAC’s decision to fine Bovada reflects a growing trend among state regulators to crack down on illegal sportsbooks. The council has made it clear that it will pursue all available remedies to eliminate unauthorized operators from Tennessee. In a statement, a SWAC spokesperson emphasized the need to hold Bovada accountable for its actions, stating that the time for leniency is over.
The $50,000 fine was issued after SWAC investigators placed bets on Bovada’s platforms on three separate occasions. This proactive approach is intended to send a strong message to other offshore operators who have disregarded regulatory warnings. Industry experts believe that SWAC’s actions could set a precedent for other states to take similar measures against non-compliant companies like Bovada.
In the past year, Bovada has faced pressure from multiple regulators to cease operations in certain states. While the company has complied with some of these orders by blocking access to specific regions, it has largely ignored official notices from state authorities. Despite receiving cease-and-desist letters from Ohio, Tennessee, and other states, Bovada has failed to acknowledge or respond to these warnings.
Tennessee’s recent move to fine Bovada highlights the council’s commitment to protecting consumers and enforcing regulatory standards. In a press release, SWAC announced that Bovada had ignored previous warnings and instructed the company to allow Tennessee customers to withdraw their funds immediately. SWAC Executive Director Mary Beth Thomas emphasized the importance of bettors being aware of the licensing status of iGaming sites operating in the state.
As Tennessee and other states monitor Bovada’s response to the fine, the outcome of this situation could have broader implications for the regulation of offshore operators in the US. By taking decisive action against Bovada, SWAC is sending a clear message that illegal gambling activities will not be tolerated in Tennessee. It remains to be seen how Bovada will react to the fine and whether it will comply with SWAC’s directives moving forward.