Tennessee Cracks Down on Bovada: Unlicensed Betting Site Fined $50,000

Lack of Regulatory Oversight Raises Security Concerns

Despite receiving a cease-and-desist order, state regulators found that Bovada was still accessible in Tennessee. Under state law, fines for unlicensed sports betting platforms can increase with repeated offenses, and additional $25,000 penalties are authorized if Bovada fails to block Tennessee users.

Bovada operates offshore from Curaçao, holding a license from the Anjouan Gaming Board, which falls outside U.S. regulatory standards.

Tennessee officials are urging anyone with an active Bovada account to withdraw their funds immediately, highlighting the risks of relying on unlicensed platforms.

Broader Crackdown on Unregulated Gambling Sites

In its ongoing mission to combat illegal online gambling, the Tennessee Sports Wagering Council is collaborating with state and federal agencies to restrict Bovada and similar offshore platforms.

While Bovada’s offshore location and cryptocurrency-based operations make it unlikely Tennessee will collect the fine.

Bovada has faced increased scrutiny nationwide, leading to restricted access in several states, including Colorado, Michigan, and New York.