Tennessee sports betting regulators recently approved fines against two sportsbooks, including an operator that did not have enough money to cover its outstanding bets.
At its May meeting, the Tennessee Sports Wagering Council, or SWC, approved a $60,000 fine against ZenSports for not maintaining a high enough reserve account balance for its Tennessee sports betting operations.
The SWC also agreed to a $50,000 fine against Fanatics for self-reported, self-exclusion list violations.
Sportsbooks in Tennessee are required to keep enough money in a reserve account to cover any outstanding obligations. On three occasions in December 2023, the SWC found ZenSports to be below the reserve requirement.
