NASHVILLE, Tenn. (WKRN) — Bettors are being advised to immediately withdraw their funds from two sportsbooks that were reportedly found to be operating illegally in Tennessee.

The Tennessee Sports Wagering Council said they issued fines totaling $50,000 each to BetUS and MyBookie on Thursday, April 17.

According to the council, the fines stem from the sportsbooks' failure to comply with cease and desist letters.

Additionally, the council encouraged those who have money within the sportsbooks to "withdraw those funds immediately."

"In stark contrast to our legal sportsbooks, illegal operators are choosing to violate our state and federal law. They do not offer any of the same consumer protection mechanisms that the law requires of licensed entities,” Executive Director Mary Beth Thomas said. “They do not restrict minors from accessing their site, they often extend credit to vulnerable individuals, and players have no way of knowing where and with whom their personal and financial data is shared after they log in to an illegal sportsbook. We cannot help players who get into a dispute with an offshore sportsbook, other than to continue our work to shut them down."

In November, illegal sportsbook Bovada shut down operations in Tennessee after the SWC fined them $50,000.

Officials added the Sports Gaming Act authorizes the council to impose a $10,000 fine for the first offense of accepting wagers without a license, which then rises to $15,000 for the second offense, and increases to $25,000 for the third offense.

The SWC reports any additional offenses after that can lead to the imposition of a $25,000 fine for each occurrence, with an occurrence being a single wager accepted in Tennessee.

A list of licensed sportsbooks can be found on the SWC's website. To view the list, follow this link.

News Source : https://www.wkrn.com/news/tennessee-news/withdraw-those-funds-immediately-tennessee-sports-wagering-council-fines-unlicensed-sportsbooks/