ZenSports, a sports betting operator in Tennessee, has come under scrutiny for a recent regulatory fine and allegedly limiting a high-stakes bettor.
The operator received a $60,000 fine in May from the Tennessee Sports Wagering Council (SWC), the Tennessee sports betting regulator, for having insufficient funds in the reserve account needed to cover winning bets. It was stated during the May SWC meeting that ZenSports had an insufficiency of hundreds of thousands of dollars in its cash reserves.
ZenSports launched in Tennessee in June 2023, and it expects to check all of its necessary financial boxes moving forward.
“We added staff to our finance area, and now they’re manually reviewing on a daily basis … regrettably, we didn’t have that in place,” ZenSports chief compliance officer Eddie Ponce said at the SWC’s May meeting.
