Tennessee-based bettors finally have a reason to smile seeing as sports betting is finally in the state! In Tennessee, sports wagering was made legal in 2019 during spring; 30th April 2019 saw approval of the sports betting bill by the Tennessee Legislature. Online sports betting was launched in November 2020, and 4 sportsbooks were approved. However, only three of these, including FanDuel, BetMGM and DraftKings launched. Our read today will provide insight into all matters Sports Betting Tennessee!
Selection of online sports betting Apps in Tennessee:
KNOXVILLE, Tenn. (WVLT) -After 18 months, legalized online sports betting is now live in Tennessee. “It’s definitely been a long and windy road for sure,' said Brian Pempus with tnbets.com. Tennessee sports betting is live. Online sportsbooks launched on November 1, 2020. Sports betting was legalized in Tennessee in the spring on 2019. On April 30th, 2019, the Tennessee legislature approved a sports betting bill. The Tennessee Education Lottery Corporation oversees sports betting in accordance with the laws of the State of Tennessee. With that, Tennessee has regulations that may differ from other states. DraftKings Sportsbook offers dozens of American and international sports for users to bet on. FanDuel Sportsbook is Live in Tennessee! Your first bet is risk free up to $1,000 Sign Up Now. 21+ and present in TN. First real money wager only. Refund issued as nonwithdrawable site credit that expires in 14 days. See sportsbook.fanduel.com for details. Gambling problem? Call TN Redline 1-800-889-9789.
Tennessee Sports Betting Rules
Fanduel Sportsbook In Tennessee
When it comes to Sports betting in the state of Tennessee, things feel different when compared to other states. There are no regular brick and mortar sportsbooks here, only online and mobile sports betting. The body in charge of regulating online sports betting here is the Tennessee Education Lottery Corp, under the Tennessee Sports Gaming Act.
For mobile sports betting licensing in Tennessee, there are zero restrictions as to who can apply. The charge involved with licensing amounts to $750,000. This price is slightly on the higher end, something which has elicited debates, alongside the 85% sportsbook cap payouts required by the law. The industry’s hold averages at 5%, which means that Tennessee’s percentage hold is three times more!
For live sports betting, Tennessee requires that ‘official league data’ is used. The tax rate is also relatively high, standing at 20%. There is no sports betting cap applicable on sports wagering licensing in the state. Bettors are required to be at least 21 years of age in order to wager. An additional restriction is on betting on collegiate events as well as in-lay bets.
How to Bet on Sports in Tennessee
In order to place a wager, players are required to be within state lines. If you are a non-resident in the state or using your mobile to bet, be sure to verify your location. The only thing you will need to get started is good internet connection.
Estimated time needed to register and fund account: 3 minutes.
Below are the few steps to follow to place your bet in Tennessee:
- Pick your preferred Sports Betting App
The state boasts 4 approved sportsbooks; DraftKings, Action 24/7, BetMGM and FanDuel. Action 24/7 is only based in Tennessee; as such, only residents from the state are experienced on using the platform.
- Register/ Create an account
Upon making a decision on the sportsbook you’d like to bet on, visit their site or download their app. Ensure that the device you will be using has the geo-location feature, or use WIFI connection. This way, the sportsbook can verify that you are indeed in Tennessee. To create an account, you will need to provide your physical address, email address, full name, social security number and date of birth.
The sportsbook will subsequently confirm your details regarding age, location and identity. Be sure to make use of promo codes as they come with tons of incentives including game boosts, bonuses, or risk free bets. Sometimes, no promo code is needed; as such, the bonuses get applied to bettors’ accounts automatically. - Make your initial deposit
Sportsbooks in Tennessee are flexible in their payment methods, accepting online pay bill modes, PayPal, Debit Card, Credit Card or even direct bank deposits. Upon successful account registration, making a deposit should be straightforward and seamless.
- Get betting
After registering and successfully making your starting deposit, the next thing is betting. Each of the available sportsbooks in Tennessee has its unique set of sports and betting options. To ensure that players do not get overwhelmed, the sportsbooks feature a filtering option, where bettors can sort out the sports and bet types.
Leading Sports Books in the State of Tennessee
While there are only three sportsbooks that have gone live in Tennessee, it is expected that two more will eventually launch, including PointsBet and BetMGM. In this section, we will have a look at BetMGM, FanDuel and DraftKings. Tennessee is among the US top twenty states when it comes to betting volumes. The sportsbooks below are all three-point verified, which means that they are all licensed, legal and safe to place your bets on.
FanDuel Sportsbook
FanDuel Tennessee is with no doubt a crowd favorite, expected to be among the three leading sportsbooks that will be launching in the state of Tennessee in November 2020. The sportsbooks operate as a Daily Fantasy entity in Tennessee. As soon as the sportsbook option goes live, players will be in a position to link their sportsbooks accounts to their DFS accounts, seeing to it that their fantasy and betting needs will all be in one account.
BetMGM Sportsbook
BetMGM Tennessee, is an MGM online platform. Over the years, the firm has been aggressive in expanding their online niche, reaching new clientele base all over the US. 1st November 2020 saw the sportsbook launch in Tennessee, being one of only three other online sportsbooks in the market. Being the official and exclusive partner of Tennessee Titans, BetMGM boasts an initial sign-up bonus amounting to $500. To add onto this, the company offers existing clients weekly promotions. The platform has amazing odds that are all in line with competition.
DraftKings Sportsbook
DraftKings is known across the US as the most popular App in all states where online sports betting is legal. In the state of Tennessee, the App DraftKings launched on 1st November 2020. One thing that you will note is that both their site and mobile App are extremely easy to use. DraftKings allows for players to connect their DFS and SportsBook accounts, which makes it so much easier, as all the information can be found in a single account. your dDraftKings’ cashier account merges to one, making it so easy to switch between products all so easily. From reviews, this right here is the most highly rated sportsbook app in the industry.
Mobile Apps Expected to launch in 2021 for Tennessee sports betting
William Hill
William Hill is with no doubt one of the biggest sportsbooks not only in the US, but also globally. However, they do not live in Tennessee at the moment, and there is no tentative date as to when they are expected to move into the state. According to most experts, it would be a smart strategy on William Hill’s part to get in on Tennessee’s sports betting actions sooner rather than later. The company remains an online sports wagering staple, boasting one of the industry’s leading websites.
PointsBet
PointsBet is a new and fresh entrant into the online sports betting scene. It not only features ordinary odds such as spreads and money lines, but also unique features including its legendary PointsBetting system. This feature allows for bettors’ payouts to swing up or down drastically, all dependent on the game’s outcome. However, PointsBet is yet to get operational in the state of Tennessee, and there is no certain timeline within which they are expected to launch.
Available Sports that Players can Wager on in Tennessee
Each of the sportsbooks that are available in Tennessee have a wide array of sports that gamers can wager on, including American-based professional sports such as MLB, NFL, NHL, MLS and NBA. In addition to American sports, these platforms offer numerous sports from across the globe, including UFC fights, the PGA tour, the English Premier League and so much more. One unique thing with Tennessee Sports Betting is that college sports betting is legal, with college football taking up a huge chunk of the betting market.
Betting Options
Team Futures
Team futures betting option entails betting on teams. However, instead of wagering on just a single game, players are required to bet, predicting that the team will meet a given condition. A great example of this is win totals; here, one can predict that the St. Louis Cardinals could end up having an 88.5 win total during the next season. Bettors can then place a wager on an over or under of that particular win total. Championships are another common team futures betting example, requiring for players to make a prediction on which team will end up taking the World Series, NBA, World Series, Stanley Cup, and Super Bowl championships. These predictions can be made at any time during the playoffs, the pre-season or even in the middle of the season.
Prop Bets
Prop bets involve wagering on players or teams achieving something in a given game. These options appear in an array of varieties. The most common bet type here is wagering on how the first score will go down or what team will score first. Players can also place their bets on the player they think will earn the first goal, run or touchdown.
Each game features lots of prop bets dependent on the array of various statistics that given sports have on offer. In American Football for instance, common prop bets include total TDs, Yardage totals, total 1st downs and many more. When it comes to baseball, usual prop bets are on home-runs hit, suns scored, total thrown strikeouts and more.
In-Play/ Live Betting
Live betting involves wagering on a game or event while it is getting played. For example, in an NFL gaming event, players can see money lines and spreads fluctuate, as the game is being played out. Here, players can make the bets as the game goes on. The beauty with this is not only in the thrill, but also on the fact that bettors can enjoy very lucrative odds during the game. In most cases, live betting is usually on its own special category or tab, so be sure to check it out upon login in.
Parlays and Teasers
A parlay is generally a multi-tier form of bet. Here, you can make several bets under one bet. As an example, a bettor can place three different spreads on three separate NFL games, tying all the bets together into one. In order for you to get the payouts in a parlay, all the bets need to be successful. While this might be relatively hard to accomplish, it is a betting option that promises quite some profitable odds and lucrative rewards.
FAQ
Is sports betting legally authorized in Tennessee?Yes it is. Players in Tennessee have the luxury of indulging in online sports wagering. 30th April 2019 saw the state legislature in Tennessee vote for approval of the sports betting bill. Interestingly, this bill became lawful without having Bill Lee, the state’s governor’s signature. 1st November 2020 then saw three sportsbooks successfully launch their Apps.
Are there any more sportsbooks that have been proposed for Tennessee sports betting?Yes! In addition to the four sportsbooks that were officially launched, there are a dozen more estimated to launch, having pending applications that are almost concluding with final approval. Before the end of the year, Action 24/7 is expected to debut its online and mobile sports betting app.
Will in-play betting be available on the Tennessee sportsbooks Apps?Online Sports Betting In Michigan
Absolutely! Live betting is a new way of betting that has really grown in prevalence among many sportsbooks. However, in Tennessee, the Sports Wagering Advisory Council is usually in charge of in-play wagering approval. Any in-play prop bet is required to buy the live betting data from an authorized league data source in order to post their available live betting prop bets.
What is the lawful betting age in the state of Tennessee?
While there are some states that allow for legal sports betting for individuals aged 18 and above, in Tennessee, players should be 21 and above in order to indulge in sports wagering.
Is it legal to wager on college games?Interestingly, Tennessee allows for college game wagering.
Does Tennessee have any retail sportsbook locations?Not at the moment. There is no lawful framework in the state of Tennessee that provides for physical or rather conventional brick-and mortar entities. There are only mobile and online sportsbooks in the state.
Lawmakers in Tennessee have sent a bill to legalize online sports betting to the governor.
The Senate heard S 16 on Tuesday morning, adopting and amending the House substitute (H 1) and voting 20-12 in favor of passage. The House passed the previous language by a 58-37 vote last week and promptly concurred with the Senate changes.
Just like that, the Tennessee Legislature becomes the fourth in the US to authorize single-game wagering this year. The fate of each proposal now rests in the hands of its respective governor.
Of the four, though, the TN sports betting bill creates the least attractive framework for regulation.
Betting on Sports Tennessee
This effort had a difficult path in the House, and the amended version is a distant relative of the original.
The lower chamber removed provisions for retail betting in committee, passing it as an online-only measure. Additional House amendments increased the license fee hundredfold (to $750,000 annually) and doubled the tax rate (to 20%). One notable Senate change empowers sports leagues to request certain restrictions.
The bill also retains language restricting operators to official data sources for settling in-play bets. Such provisions allow statistics to be weaponized and monetized, representing an unwelcome influence from professional sports leagues.
The NBA, MLB, and NFL are listed among the registered lobbying organizations in Tennessee.
For all the legwork they’ve done over the last year, this type of mandate has no statutory precedent in the US. Eight states currently regulate sports betting sites, and licensees are not subject to data restrictions in any of them.
Another pillar of the leagues’ proposal, the integrity fee, is not present in the Tennessee bill or any state law.
What’s next for TN sports betting?
The final action on TN sports betting now rests with Gov. Bill Lee, and there’s no indication he plans to veto the bill. He’ll have 10 days to weigh the decision once the paperwork hits his desk. Local reporting from The Tennessean indicates he may let it lapse into law without intervening one way or the other.
Meanwhile, both of the primary sponsors have recently come under the microscope for their behavior outside the chamber. The federal government is preparing to sue Sen. Steve Dickerson for alleged fraud, and Rep. Rick Staples is the subject of sexual misconduct accusations.
If the governor happens to veto the bill this year, its prospects would take a big step backward.
Regardless of the result in Tennessee, the list of states with legal, single-game wagering will soon grow for the first time this year. Enabling bills in Iowa, Indiana, and Montana are also fully passed and awaiting signatures from their governors.