Tennessee sports betting was legalized in 2019 after the Tennessee legislature approved a sports betting bill. Gov Bill Lee approved the bill to become law without his signature, creating a path for betting sites. Online sports betting in Tennessee was launched on November 1, 2020.
The Tennessee sports betting law is designed to regulate only the online sports betting market. So, there will be no sports wagering at physical sportsbook locations. In fact, Tennessee was the first state to pass a mobile and online-only sports betting law. This design could provide a great example for other states to follow in the future by legalizing sports betting exclusively through online channels.
Here at Gambler Saloon, we built this amazing guide to bring you complete information about the Tennessee Sports Betting Sites:
TN Online Betting Sites
The Sports Wagering Committee of the Tennessee Education Lottery approved three online sports wagering licenses, including BetMGM, FanDuel, and DraftKings. These sportsbooks are the first to launch as soon as Halloween ends i.e. on Nov. 1. Besides, the committee also reconvened several times to potentially approve other operators.
People who are physically present within the state lines of the Volunteer State will be able to wager on their PC, smartphones, or other internet-connected devices.
FanDuel Sportsbook
Tennesseans are quite familiar with FanDuel. The operator has been in the state for many years as a Daily Fantasy Sports provider. FanDuel Sportsbook is one of the first sportsbook operators to get their online-only sports betting license in the state.
With the FanDuel betting site, Tennesseans can place all types of wagers on leading events and even enjoy in-play betting. New players can get a risk-free bet of up to $1,000. No promo code is needed.
FanDuel betting site is also available in the New Jersey, Pennsylvania, West Virginia, Indiana, Illinois, Iowa, and Colorado sports betting markets. It is also finalizing the details to launch in several other states.
TwinSpires Sportsbook
TwinSpires sports betting site joined the Tennessee online gambling market on Jan. 6, 2021, licensed by the Tennessee Education Lottery Corporation. Customers physically present in Tennessee were able to wager on sports through TwinSpires from March of 2021.
Unlike most states, there are no casinos in Tennessee. This means customers will not be able to place bets in person at retail sportsbooks in the Volunteer State. The sportsbook offers a welcome bonus of $1000 risk-free bet for new bettors. Use the promo code BET1000 while creating a new account.
BetMGM Sportsbook
BetMGM is a market-leading sports betting and gaming platform by BetMGM LLC, the joint venture between MGM Resorts International. They have been aggressively expanding online to reach new customer bases all around the United States. Certainly, they were able to get in as one of the first 3 Sportsbooks to be operational in Tennessee with launching on November 1st, 2020.
BetMGM is the first official sports betting partner of Tennessee Titans. The BetMGM online sportsbook also operates in NJ, WV, NV, IN, and plenty of other states.
New BetMGM players can claim free bets up to $1000 for the loss of their first real money bet. In addition, players can also take advantage of daily and weekly promotions.
Caesars Sportsbook
Caesars Tennessee sportsbook was launched in August 2021 following a rebranding from its previous iteration as William Hill, which is one of the largest sports betting operators in the world which launched in Tennessee on March 11, 2021. After the acquisition of WH, Caesars continued to offer the same betting options but with a new look, updated bonuses, and promotions.
At present, Caesars has operations in several US states. The sportsbook is live in New Jersey, Colorado, Indiana, West Virginia, Iowa, Michigan, Virginia, and Tennessee. Plenty of betting options are available.
New players in Colorado can enjoy Caesars’ risk-free bet of up to $5000 by using the promo code SALOONRF during the registration.
DraftKings Sportsbook
DraftKings is rapidly expanding across the U.S. It is one of the most popular DFS operators, which also operates legal sports betting in several states. They launched in Tennessee on November 1st, 2020 along with the first round of major Sportsbooks. DraftKings online sportsbook is also live in NJ, IL, IN, CO, PA, WV, and IA.
If you already play Daily Fantasy on DraftKings, you can seamlessly connect your DFS account to your Sportsbook account to have all of that information under one name on their website.
Tennessee Action 24/7
Action 24/7 drew approval from the Tennessee Lottery’s Sports Wagering Committee on Oct. 5, joining FanDuel, BetMGM, and DraftKings. The Action 24/7 sportsbook launched with the simple idea of creating a world-class sportsbook for the people of Tennessee.
PointsBet Sportsbook
The Australian-based sportsbook, PointsBet, made its way into the United States market in January of 2019. The sports betting operator is already providing online wagering services in NJ, IA, IL, and CO within its first year of operation in America.
The has plans to launch in Tennessee very soon. With an innovative new take on sports betting, such as PointsBetting, along with some unique bonus structures. PointsBet could become a household name in Tennessee.
Tennessee Land-Based Sportsbooks
The Tennessee sports betting law is designed as an online and mobile-only industry. Therefore, there are no brick-and-mortar casinos or retail sportsbooks in the state, and also there is no plan to open land-based venues.
Those looking to wager on sports in the Volunteer State will be able to sign up for an account via online platforms or mobile applications. Not to mention, bettors must be physically present within state boundaries to place a bet.
Best TN Sports Betting Apps
While our overall ranking considers a range of factors, the fact is sportsbooks have different strengths and weaknesses. As of now, a handful of betting sites are available in Tennessee but certainly, the market will expand very soon. Unfortunately, choosing the best among them is a tough job. Don’t worry, we got you covered.
We are one of many sites that give a view of where it is safe and best to bet. But, we take this very seriously. We only suggest sites that we would trust with our own money. To be safe, it is best to play games at sites that have a long, trusted history. Here’s a look at the top online sportsbooks in Tennessee:
FanDuel Sportsbook
FanDuel sports betting app has become a go-to spot for scores of Tennessee bettors and has become one of the top operators in the state in terms of betting volume. The browser version and mobile app are both visually appealing and easy to use. FanDuel has been gaining a lot of traction with single-game parlays and with innovation in numerous areas. Players can benefit not only from a welcome bonus of $1,000 in free bet but also lucrative betting promotions such as odds boost, insurance, and occasional reload/deposit bonus.
BetMGM Sportsbook
A well-known brand name in both the physical and online casino space, BetMGM has set its sights on the world of sports betting, as well. So far, so good as this is a solid online and mobile offering. Among the biggest highlights is an expansive list of offerings in the niche sports markets, along with the largest variety of easy-to-use and safe deposit options in the industry. BetMGM players can bet up to $1,000 risk-free and also participate in a player loyalty program offering links to MGM’s traditional M Life Rewards casino loyalty program.
DraftKings Sportsbook
Run by the largest daily fantasy sports operator in the US, the DraftKings sports betting app is now synonymous with online and mobile sports betting across the US. Its sports betting app simplifies the language of sports betting and offers users a personalized betting carousel to make them find bets they’re interested in. DraftKings Sportsbook also offers a competitive bonus and promo structure.
How to Place a Sports Bet in Tennessee
Placing a bet on sports in Tennessee is simple but you must know some information regarding the process. We’re here to guide you through a few short steps it takes to place a sports bet in Tennessee:
Choose a TN Sportsbook
The first step is to choose a sports betting app to get started. We recommend trying multiple sports betting sites so that you can get the best price on every game and better your sports betting experience will be. Make sure to pick the first betting site which is the best. Choose a betting site from the top TN online sportsbooks list.
Sign-up and Deposit
Once you pick the best betting site for you, it’s time to create an account. You would need to fill in personal details such as Name, Address, Mobile Number, Email Address, Date of Birth and create a username & password along with security questions. You would also need to enter the last 4 digits of your SSN for verifying your ID. Verify your account by clicking on the verification link sent to your email. Now, you can deposit money into your account.
How much you’d like to deposit is entirely up to you as it depends on your personal financial situation. Use any of the available banking options to deposit money. Make sure to select a payment option that is easier for you. Our preference is debit/credit card or direct bank transfer. If the TN sports betting site offers a deposit bonus, take advantage of it by depositing the maximum limit amount.
Verify Your Location
You need not be a Tennessee resident to bet on Tennessee sportsbooks. However, you must be present within the state borders of TN while placing a real money wager. All sportsbooks in Tennessee verify the bettor’s location to make sure they are wagering from within the state borders. In fact, betting apps will geo-locate you to confirm you’re truly in TN before you’re able to bet.
So, it is better to give the location access to the legal online sports betting site and make sure you are inside the state borders of Tennessee. This applies to all players who are placing a bet in Tennessee by web browser, mobile browser, or iOS/Android app.
Place Your Bet
Once you have deposited funds, you’re free to bet on sports in Tennessee up to the value in your account. Not sure who to bet on? GamblerSaloon has crunched the numbers on all the big games to provide you with the best probabilities and plays to give you the winning edge. Check our top sports betting picks of all major professional and amateur sports and leagues such as the NBA, NFL, NHL, and MLB.
Select the sporting event, choose the type of bet, enter the amount, and submit your bet. If you win, you can withdraw the funds using the available withdrawal banking options.
Tennessee Sports Betting Law & Restrictions
Tennessee was the fourth state to legalize sports betting in 2019 along with Indiana, Iowa, and Montana. In fact, only online and mobile sports betting operations are legal; brick-and-mortar sports betting is illegal. The Tennessee Education Lottery Corporation along with its Sports Wagering Advisory Council oversees the state’s sports betting industry with new laws and regulations.
Under the law, Tennessee regulators require an annual payment of $750,000 for licensing along with a $50,000 non-refundable application fee. The licensing fees go to the Tennessee Promise Scholarship Fund.
There is no limit on how many operators can apply. While operators must utilize “Official League Data” for in-play wagering.
Tennessee’s sports betting law calls for a 20% privilege tax on online sports betting revenue. 80% of the privilege tax is distributed for the education account, 15% to develop infrastructure projects, and 5% to the Department of Mental Health.
Lawmakers estimate TN sports betting will generate more than $50 million per year in tax revenue.
The state law restricts certain wagers such as:
- To bet on high school sports events.
- In-game or live prop bets on any type of collegiate sporting event.
- Non-sports betting events such as political elections and awards ceremonies.
Payment Methods accepted by Tennessee Betting Sites
Most sportsbooks in Tennessee will offer welcome bonus money. To claim the bonus and place a wager, you’ll probably want to deposit funds into your account.
Unlike offshore and unregulated sportsbooks, Tennessee will have several banking options for its legal sportsbooks, providing enhanced levels of safety and security.
In general, you’ll find the following banking options:
- Credit or Debit Cards
- Bank or Wire Transfers
- Prepaid Cards
- E-wallets (PayPal and Skrill)
- E-checks (ACH)
- Cash at PayNearMe and Retail Locations
State of the Union
Although every state has different gambling laws, U.S. sports betting sites are picking up the pace and Nevada was the pioneer of regulated US online gambling but only offers the chance to play poker. Now bettors can safely access sports betting apps and websites from regulated, U.S. based bookmakers in the following states:
NJ Betting Sites: New Jersey is currently the largest market for regulated online gambling in the US.
PA Betting Sites; Pennsylvania is the biggest state to legalize and regulate online gambling.
WV Betting Sites: West Virginia is one of the first states to unroll sports betting in the wake of the US Supreme Court decision.
IA Betting Sites: Iowa legalized wagering as of May 2019 and went live in August 2019. Many important US sportsbooks are already up and running.
IN Betting Sites: Indiana betting sites are active since October 2019 after Gov. Mike Pence signed Bill S 335 into law.
CO Betting Sites: Colorado sports betting is legal and available as of May 1, 2020. Residents may participate in online sports betting, horse racing betting, greyhound betting, daily fantasy sports, and skill games.
IL Betting Sites: Online sports betting began in Illinois on June 18, 2020, when Rivers Casino went live through BetRivers.
MI Betting Sites: Sports betting went live in Michigan on January 22, 2021. Tennessee sports betting was legalized in 2019 after the Tennessee legislature approved a sports betting bill.
How Tennessee Sports Betting Compares
Bettors in big cities like Nashville, Memphis, Knoxville, and players traveling from neighboring states including Kentucky, Mississippi, Alabama, or Georgia have a variety of online betting options in the state of Tennessee. Unfortunately, the Volunteer State doesn’t have land-based sportsbooks like in NJ and PA to generate huge revenue from sports wagers. However, Tennessee has huge potential to be a big U.S. market with most of the big national brands available.
The first two months’ figures indicate that betting volume so far is on par with levels in Colorado and Indiana. As of now, online betting options are sufficient for bettors who’d like to start sports wagering. Here is how Tennessee lines up with other US states:
Mobile Betting Options
Tennessee has fully legalized online betting and depositing but limited the benefits with mandatory hold pricing. Tennessee’s online-only sportsbooks have seen $312.3 million in gross wagers in its first two months, yielding $5.4 million in privilege taxes. These are great numbers, considering the limited number of TN sports gambling sites and mandatory hold pricing on top of that. Legislative backers expect Tennessee sports betting apps to yield $50 million in tax revenue annually, which is more than New Jersey’s. This could be even more with new operators planning to launch in Tennessee.
Right now, the bettors are pretty happy as they are able to bet on top betting platforms like BetMGM and FanDuel sportsbook.
Deposit
In-person casinos and retail sportsbooks are not available in Tennessee. Meaning it is mandatory for bettors to register and deposit money online. With this, online sportsbooks are benefited as bettors can conveniently create an account with multiple sportsbooks online and choose the preferred banking method to deposit money. No matter where you are located – a bar in Memphis or at your home in Knoxville, you can load money into your online sportsbook account.
Fair Pricing
As of now, Tennessee sportsbooks are falling behind on offering the best odds for the bettors. This is due to the 10% mandatory hold. The operators have no choice but to pass the costs onto the consumer. Due to the mandatory hold, Tennessee bettors are seeing the odds starting from -120 or more. In the future, we could see operators adjusting the line towards better odds to attract the sports bettors who are currently moving towards offshore or unlicensed bookmakers.
Market Offerings
The Volunteer State is home to some of the biggest online sports betting sites. All TN betting sites compete against each other by offering a variety of betting options for their bettors. TN players can bet on home teams of all major sports leagues such as NBA betting in Tennessee – Memphis Grizzlies, NFL betting in Tennessee – Tennessee Titans, and NHL betting in Tennessee – Nashville Predators.
While some states put a ban on in-state college sports teams betting, it is allowed in Tennessee. Meaning you’ll be able to bet on college football teams such as the University of Tennessee or Vanderbilt Commodores too. Whereas live prop bets on college teams is restricted.
Pros: Tennessee’s Successes
Fully legalized online sports betting is contributing good revenue to the state. The good thing for Tennessee sportsbook apps is that there are no in-state casinos or racetracks to partner with in order to enter the TN sportsbook market. In fact, considering no prior legal gambling options in the state, the legalization of sports betting itself is considered the first step to Tennessee’s success. Certainly, the Tennessee online sports betting market could lay the blueprint for Alabama or Georgia who doesn’t have existing gambling.
In November, Tennessee reached the highest revenue of any sports betting launch in the nation to date. In the first month, Tennesseans wagered over $131 million resulting in $118 million in winnings for them and $13 million in revenue for sportsbooks.
Cons: What Can Be Done Better?
The main disappointment for sports betting in Tennessee is the bill itself. There is a mandatory 10% hold. Therefore, some bettors prefer illegal markets, which results in preventing the state from generating good revenue. Players see most of the odds at -120 or worse as legal sportsbook apps in Tennessee need to earn income from players to pay a $750,000 yearly fee and 20% tax. Due to this high price tag, many local businesses are not trying to enter the market.
Though Tennessee sportsbooks offer odds on college football games, you will not find any in-play prop bets. Tennessee bettors will miss the excitement of placing live player props while supporting their home college team. In addition, there are official league data limits placed on in-game wagering making it harder for online sportsbooks.
Tennessee Betting Sites – FAQs
Is Sports Betting Legal in Tennessee?
Yes, online sports betting is legal in Tennessee. In May 2019, Gov. Bill Lee let the sports betting bill pass into law without his signature. Whereas retail sports betting remains illegal in the state.
Who can bet on Tennessee sports betting sites?
People who are of 21 years of age or older and present within the state borders of Tennessee are eligible to bet on Tennessee sports betting sites.
Athletes, coaches, and employees with professional sports teams are not eligible to bet. Also, in-play wagers on college games are prohibited.
Who regulates Tennessee betting sites?
In April 2020, state regulators completed the process of setting rules and regulations to govern how sports betting will operate in Tennessee. Meanwhile, the Tennessee Education Lottery Corporation oversees the Tennessee sports betting sites.
On which sports can I wager on Tennessee sports betting sites?
Tennessee sports bettors can place a wager on all major sports and races, such as college sports, football, basketball, baseball, hockey, soccer, tennis, golf, combat sports, auto racing, and horse racing.
The major sports leagues include NFL, MLB, NBA, MLS, and NHL. Certainly, you can wager on home teams of these leagues, such as Tennessee Titans, Memphis Grizzlies, Nashville Soccer Club, and Nashville Predators.
Is DFS legal in Tennessee?
The state legislature approved a Daily Fantasy Sports law in 2016, making Daily Fantasy Sports legal in Tennessee. Top operators such as FanDuel and DraftKings take part in the market.
Is betting on Horse Racing legal in Tennessee?
Even though there are no retail or live venues for wagering on horse racing in Tennessee, it is legal to bet on horse races online. You can place horse bets on top apps like the TVG horse race betting app.