SWAC ups ante
Tennessee’s Sports Wagering Council (SWAC) has finally done what other many other state regulators have likely considered, slapping offshore iGaming operator Bovada with a $50,000 fine.?
time to play nice is over
Cura?ao-based Bovada has attracted dozens of cease-and-desist letters from US state regulators since the turn of the year, including from SWAC. Now, it appears the regulator has decided the time to play nice is over.?
Reinforcing its aggressive stance, a SWAC spokesperson stated it is “pursuing every available remedy to eliminate illegal sportsbooks from Tennessee,” according to Sports Betting Dime. SWAC issued the fine after its investigators “placed bets on Bovada’s platforms on three separate occasions.”
According to industry insiders, the move could prompt other states to follow suit against an offshore operator “notorious for not acknowledging communications” from regulators.
Long form
Over the past year, over a dozen regulators have ordered Bovada to exit their gaming markets. According to multiple media reports, Bovada has mostly gone along with the orders, and blocked access to those 14 states and Washington DC.?
the regulator would pursue “all legal remedies and actions” against it
The offshore iGaming operator’s mailroom must be used to opening letters like the one from Ohio Casino Control Commission, which ordered Bovada to stop all activity in the state or the regulator would pursue “all legal remedies and actions” against it.
Bovada, however, never acknowledged the notices from Ohio, Tennessee, or any other state. Nor did it inform the regulators of its plans to restrict access.
Bettors need to know
Tennessee’s decisive move last week was revealed in a press release in which it said Bovada had ignored its cease-and-desist letters. The SWAC ordered Bovada to permit all Tennessee customers to withdraw their funds, while urging bettors to “withdraw their funds immediately.”
SWAC Executive Director Mary Beth Thomas added in the release that Tennessee bettors needed to know that not every iGaming site or app accessible in the state “was licensed to do business here.”
Tennessee and other states will be waiting to see if, unlike the cease and desist letters, Bovada will respond to a fine.