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Tennessee will soon become the latest state to allow sports betting. According to a report from TN Bets on Tuesday, the Tennessee Education Lottery will launch its online/mobile sports wagering options this fall -- no later than November 1. 

The state was hoping to launch its sports wagering operations in September but that timeline was delayed. Tennessee passed legislation to legalize sports gambling in May of 2019.

According to the lottery, four firms have completed applications to serve as sports gaming operators, with the operator's license carrying a $750,000 annual price tag. The state has no casinos or racetracks so in-state sports gambling with run exclusively through online/mobile wagering.

Tennessee will be the 18th state in the United States to have a legal, regulated sports betting industry. In May of 2018, the United States Supreme Court delivered a historic decision to strike down the federal ban on sports gambling that prohibited betting on sports in most states. As a result, individual states now have control over whether to allow sports gambling.

North Carolina and Virginia are the next states in line to offer legalized sports betting. North Carolina passed legislation in July 2019 while Virginia passed legislation in April 2020.