Tennessee Sports Betting: Expert Analysis & Tips
Discover our comprehensive Tennessee sports betting review, where we provide expert analysis, valuable insights, and essential tips to enhance your wagering experience. We’ll explore the legal framework, regulations, and licensing authorities that ensure a safe environment. Additionally, we evaluate top online sportsbooks, their features, promotions, and user experience.
Our review covers popular sports and events, discussing odds, betting options, and strategies to help you make informed decisions. Whether you’re a seasoned bettor or new to sports wagering, our blog empowers you with the knowledge and tools for success. Elevate your game and embark on a rewarding journey through Tennessee’s exciting sports betting landscape.
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Tennessee Sports Betting History
- 2016: Tennessee legalized daily fantasy sports through the Fantasy Sports Act.
- 2019: State Rep. Rick Staples introduced HB 0001, paving the way for sports betting legalization.
- June 2019: HB 0001 became law, officially legalizing sports betting in Tennessee.
- November 2020: The first online sportsbooks were launched, marking the beginning of legal sports betting in Tennessee.
- 2021: Action 24/7 faced suspension due to money laundering and proxy betting but resumed operations with a federal judge’s injunction.
- November 2021: Tennessee achieved a record-breaking month with over $375 million in betting handle for online sportsbooks.
- 2022: The Sports Wagering Advisory Council took over regulatory duties from the Tennessee Education Lottery, becoming the new governing body for Tennessee sports betting.
Tennessee Sports Betting Rules and Regulations
In May 2018, the US Supreme Court decision gave states the authority to legalize sports betting Tennessee. While Tennessee didn’t immediately pursue legalization, a sports betting bill emerged in the Legislature the following year.
Sports betting officially became legal in June 2019, but it took some time to establish the necessary rules and regulations. Finally, in November 2020, online sportsbooks were launched in Tennessee.
Here are important elements of Tennessee’s sports betting law:
- Gross gambling revenue is subject to a 20% tax rate imposed by the state.
- Licensees are required to make an annual payment of $750,000.
- Sports betting in Tennessee is exclusively offered online, with no current intention to establish physical retail sportsbooks.
- Sportsbooks operating in the state must adhere to a mandatory 10% hold requirement on all wagers.
Major Sports Betting Facts about Tennessee
- Legalization Process: Tennessee legalized sports betting in 2019, but the formulation of official rules and regulations took time.
Online Sportsbook Launch: The state’s first online sportsbooks became operational in November 2020.
Online-Only Approach: Tennessee is exclusively an online state for sports betting, with no presence of physical casinos or plans for retail sportsbooks.
Impressive Betting Handle: During the inaugural month of betting, Tennessee’s online sportsbooks generated over $131 million in betting handle.
Monthly Handle Record: In October 2021, the state achieved a record-breaking monthly handle of over $375 million.
Legal Betting Age: Individuals must be 21 years or older to legally participate in sports betting in Tennessee.
Minimum Hold Provision: Tennessee stands as the only state with a minimum hold requirement of 10% for sportsbooks.
- Betting on Pro and College Sports: In Tennessee, you can bet on both professional and college sports, except for in-game prop bets on individual college athletes or teams and any prop bets specifically on college athletes.
- Restrictions on Affiliated Individuals: Individuals closely associated with leagues or teams are prohibited from legally betting on their own sports.
Popular Sports for Betting in Tennessee
- Football: Football, both professional and college, is immensely popular in Tennessee sports betting. With the presence of college football teams like the University of Tennessee Volunteers and the Tennessee Titans in the NFL, football attracts a significant amount of betting activity.
- Basketball: Basketball, particularly college basketball, enjoys a strong following in Tennessee. The state is home to prominent college basketball programs such as the University of Tennessee Volunteers and the Vanderbilt Commodores. NBA games, especially those involving the Memphis Grizzlies, also draw considerable interest from bettors.
- Baseball: Baseball holds a special place in Tennessee’s sports culture. There is a sizable fan base for baseball betting with minor league baseball teams like the Nashville Sounds and Memphis Redbirds as well as passionate support for Major League Baseball teams like the Atlanta Braves.
- Soccer: Soccer’s popularity has been steadily growing in Tennessee sports betting, and it has become a notable sport for betting. Fans support local soccer clubs like Nashville SC, creating a vibrant atmosphere for soccer wagering.
- NASCAR: Tennessee has a strong NASCAR fan base, with the Bristol Motor Speedway hosting major races. Motorsports enthusiasts frequently engage in betting on NASCAR events, adding excitement to the racing experience.
Top Sportsbooks in Tennessee Sports Betting
Top Sportsbooks in Tennessee Sports Betting
BetMGM Sportsbook Tennessee: BetMGM stands out for its extensive range of sports and betting options, including less mainstream sports. While the platform could benefit from improved smoothness and efficiency, it offers a diverse betting experience.
FanDuel Sportsbook Tennessee: FanDuel is known for its user-friendly interface and abundant features. They have played a significant role in introducing trends like single-game parlays. The site has solid odds but could enhance its promotions for regular players.
Caesars Sportsbook Tennessee: Caesars offers a wide selection of sports and competitive odds in Tennessee online sports betting. They regularly provide promotions and have a rewarding loyalty program. However, navigation and overall appearance could be refined in certain areas.
DraftKings Tennessee: DraftKings excels with its highly popular mobile app, offering a user-friendly experience. The intuitive layout and easy access to different sections make wagering a simple and enjoyable process. It is particularly favored for player props.
WynnBET Tennessee: With a professional touch, WynnBET provides excellent customer support, generous bonuses, and secure banking methods. While available exclusively on mobile, it delivers a distinctive and seamless platform that ensures a pleasant betting experience.
List of Tennessee's Licensed Sportsbooks
Tennessee sports betting has 12 legal online sportsbooks as of 2023. Here’s the complete list of online sportsbooks in Tennessee:
1. DraftKings: Recognized as the top sportsbook option.
2. FanDuel: Highly regarded for its excellent betting app.
3. BetMGM: Considered the best choice for banking options.
4. Caesars: Offers the best welcome bonus for new users.
5. SuperBook: Known for competitive lines and odds.
6. WynnBET: Trusted and reputable brand.
7. Barstool: Provides a wide range of betting options.
8. Hard Rock: Excels in the live betting experience.
9. Action 247: Offers special promotions for major events.
10. Betly: Known for its user-friendly platform.
11. Wagr: Preferred for social betting features.
12. Fanatics Sportsbook: Established and reputable brand.
(Bally Bet: Upcoming sportsbook yet to launch its app.)
Tennessee Retail Sportsbooks
Tennessee is unique among states that have legalized sports betting in that it does not offer in-person gambling options. Tennessee, unlike other states, does not have physical sportsbooks, and there are no plans to introduce them in the near future.
Best Tennessee Sports Betting Offers and Bonuses
- DraftKings – Bet $5, Get $150: DraftKings offers a sign-up bonus where new users can bet $5 and receive $150 in bonus bets. This promotion provides an attractive incentive for Tennessee bettors to join DraftKings and enjoy a substantial bonus to enhance their wagering experience on the platform.
- Caesars Sportsbook – Up to $1,250 on Caesars: Caesars Sportsbook provides a sign-up bonus for Tennessee customers, allowing them to receive up to $1,250 in free bets if their first wager is unsuccessful.
- BetMGM – $1,000 Back in Bonus Bets: BetMGM offers a bonus where new users can get up to $1,000 back in bonus bets if their first bet loses.
- FanDuel – $1,000 No Sweat First Bet: FanDuel provides a bonus of up to $1,000 in bonus bets for new Tennessee customers, matching the amount of their first wager if it results in a loss.
- WynnBET – Bet $100, Win $100: WynnBET offers a promotion where Tennessee sports bettors can deposit and wager $100 to receive $100 in free bets, with qualifying bets at odds of -120 or longer.
Tennessee Sports Betting Sign-up Process
Follow these steps to play in Tennessee online sports betting:
- Age and location verification:Ensure you meet the minimum age requirement of 21.Verify that you are physically located within the state of Tennessee, as online sports betting is restricted to within state borders.
- Choose a sportsbook:Select a licensed and regulated online sportsbook.Popular options include BetMGM, FanDuel, DraftKings, and Caesars.
- Create an account:Visit the sportsbook’s website or download their mobile app.Register by providing necessary personal information and undergo age and identity verification.
- Deposit Funds:Choose a deposit method, such as credit/debit cards, e-wallets, or online banking.Follow the instructions to deposit real money into your account.
- Claim bonuses:Check for available sign-up bonuses and promotions in Tennessee sports betting.Read the terms and conditions associated with the bonuses.
- Navigate the platform:Familiarize yourself with the sportsbook’s platform, layout, and available sports and betting markets. Explore different types of bets offered.
- Place bets:Select a game or event to bet on.Choose the desired bet type (e.g., moneyline, point spread, over/under, prop bets) and enter the wager amount. Review the bet slip before confirming the bet.
- Responsible gambling: Set betting limits and manage your bankroll responsibly. Familiarize yourself with responsible gambling resources and tools provided by the sportsbook.
Conclusion
Ultimately, the legalization of Tennessee sports betting in 2019 has created an exciting and convenient online betting environment for both residents and visitors. Individuals can enjoy a wide range of sports and betting options with a variety of licenced and regulated sportsbooks to choose from. Tennessee stands out as an online-only state, providing a unique approach to sports betting in the absence of physical sportsbooks. Sports enthusiasts in Tennessee can participate in the thrilling world of sports betting while adhering to legal requirements by taking the necessary steps to begin betting responsibly and taking advantage of available bonuses and promotions.
Tennessee Sports Betting Resources
- Tennessee Sports Wagering Advisory Council: Provides details on licensing, dispute resolution, and related information.
- Problem Gambling Programs: Resources and information offered by the TN Department of Mental Health & Substance Abuse Services.
- Approved Licensees and Registrants: List of authorized entities available on the TSWAC website.
- HB 0001: Tennessee’s sports betting bill that was ultimately enacted into law.
- The Tennessean: Media outlet offering coverage of both state and national sports news.
- Chattanooga Times Free Press: Media outlet providing coverage of state and national sports news.
Frequently Asked Questions (FAQs)
Yes, online sports betting is legal in Tennessee. The state legalized online sports betting in 2019, allowing residents and visitors to place bets through licensed and regulated online sportsbooks.
Yes, you can bet on both professional and college sports in Tennessee. However, the state has restrictions on certain types of college sports bets, such as in-game prop bets on individual college athletes or teams and prop bets specifically on college athletes.
No, Tennessee is a web sports betting state. There are no physical brick-and-mortar sportsbooks available within the state. All sports betting activities are conducted through licensed online sportsbook platforms.
Online sportsbooks in Tennessee offer various deposit and withdrawal methods, including credit/debit cards, e-wallets, and online banking. The specific options may vary between sportsbooks, and deposits are usually instant, while withdrawal processing times can vary depending on the chosen method.
Yes, as long as you choose a licensed and regulated online sportsbook, it is safe to bet on sports online in Tennessee. Licensed sportsbooks adhere to strict security measures to protect your personal and financial information, providing a safe and secure betting environment for users.