Tennessee sports betting went live in May 2021. Local bettors can enjoy all wager types: from traditional retail sports betting shops to mobile and online sports betting sites. The Volunteer State has become home to the top US gambling brands: BetMGM, FanDuel, and DraftKings opened their doors to local bettors offering the first legal online betting markets.
It happily coincided with the full swing of the NFL season, so the market newcomers instantly gained great profits and pleased bettors. In this review we will track the history of Tennessee sports betting and let you know how to choose the best online sportsbooks to get a safe and enjoyable experience.
Tennessee Sports Betting News
The latest Tennessee sports betting news are related to the change of the hold for sportsbooks. The Wagering Advisory Council is going to extend the rule of a 10% hold and discuss it in their future meeting. The rule has been stated since sports betting was legalized in 2018. According to it, a sportsbook will be fined if they fail to hit the hold number — the margin a bookie keeps after the wager is placed. In Tennessee it means a hold of 90 cents for a $1 dollar placed in wagers.
The rule itself was put into law when sports betting was made legal back in April 2019, with the rule stating that if operators failed to hit their hold number, they’ll be fined $25,000 annually.
The first year resulted in the $375 million in handle in sports wagers and saw a significant increase from September.
The revenues keep growing at Tennessee sportsbooks, and the new hold laws might stimulate new online sports betting sites to enter the market.
Expected Revenues from Sports Betting and Tax Rates in TN
With popular pro teams based in the state, and a large number of avid bettors, the revenues became even more than expected after sports betting launch. The handle in January 2022 became $386 million. The main reason for such an impressive record was probably the Tennessee Titans that appeared in the AFC divisional rounds: it helped to beat the fall records. The overall legal sports betting, that has existed for more than 15 months, has collected $3,5 billion handle in bets.
The state collects a 20% tax and Tennessee became the fastest state to reach $50 million in taxes. It took the Volunteer state only 15 months to reach such figures; the second state to do almost the same was Illinois that has overcome the $50 million tax revenue within 16 months.
Is Sports Betting Legal in Tennessee —Legalization Route
No sports betting options were available in Tennessee until 2021, so players could only go with the offshore sportsbooks. However, things changed and Tennessee has become home to the top popular mobile betting brands.
The whole process of legalization started soon after the PASPA law was repealed. The Rep. Rick Staples suggested the Bill H1 in 2019.
The aim of the bill was to consider sports betting legal, establish the gambling law in Tennessee and legalize online and mobile betting to welcome the biggest brands within the state.
Unlike in many states, Tennessee’s authorities accepted the sports betting bill pretty quickly. It has passed through the Senate without any hurdles. Although sports betting has never been legal in the state in any form, the governor signed the bill without any long discussions and negotiations, and the Volunteer State has approved wagering on sports for the first time ever.
The first licenses were issued in 2020, and the first bets were accepted in 2021.
Regulations of the Sports Betting in Tennessee
Here are some key facts from the Tennessee sports gaming act. First, the gambling age: you must be 21 or older to register at a sportsbook. Online sports betting sites are obliged to verify accounts and see if a person has the right age to gamble. As registration is available remotely and you don’t need to come to any retail locations to sign up (like it’s required in some states), sportsbooks take all responsibility to prevent minors from gambling.
Besides, you can only use Tennessee online sports betting sites when you are located within the state.
However, you don’t need to be a constant resident. Another limitation, besides your age and location, is your social status. Some people can’t gamble: for instance, if they are somehow related to pro or college sports leagues, have access to insider information about athletes, etc. The full list of categories is published at the Tennessee’s gambling commission site.
About sports betting sites requirements: first, they need to use official league data for live betting markets. In other words, they have to get all stats, results, etc. from the official league representatives approved by the authorities, and nowhere else. And the tax — all online betting sites have to pay 20% from their revenues.
How Tennessee Compares To Other States?
Tennessee doesn’t have any extraordinary sports betting laws. You can wager on sports online if you reached a legal gambling age of 21. The other states allow gambling from 18, but it’s not the case with the Volunteer State.
Like in many other states, you can’t wager on college props at legal online betting sites. Although it’s allowed to place bets on local college teams, you won’t find any proposition wagers at any of the betting apps.
How to Start Online Betting in Tennessee?
It’s easy: check out our list of the best Tennessee sportsbooks, download their apps, and you are ready to go! Don’t forget to verify your account before you deposit and place your wagers. You will need to provide a sportsbook with correct and fair information on your personal details like the address, name, and ID. You will need to share your ID copy and verify your address.
Another option is to choose an offshore betting site. It might allow you to place wagers on college sports props, and also give you more selection of sports, events, and markets. However, it’s not as safe as using sportsbooks officially acknowledged by your local authorities.
Best Tennesse Sportsbooks
What types of bets are available at TN?
Tennessee doesn’t have any limitations in terms of wager types. Local online betting sites allow you to place single and multiple bets like parlays and teasers.
In fact, all betting markets except the college sports props are available.
How do we Rate a Tennessee Sports Betting Sites?
Our list includes the online betting sites we regard the best. How do we know that they are good and trusted platforms? In the next block of our overview, we will speak about how to tell a good sportsbook from a mediocre one and choose the best platforms, legal and fair.
License and legality in TN
The Tennessee Sports Wagering Advisory Council is the regulating organ of TS (it replaced the Tennessee Education Lottery Corporation) so a legal bookmaker has its license. Our list contains only the sportsbooks that were granted a TSWAC license and thus operate in the state legally.
If you opt for an offshore sportsbook without a local license, it won’t break the law. However, you won’t be protected by the state law in case you will face any fraud or other issues with a gambling platform. Always check that an offshore sportsbook had a license of a reputable jurisdiction and had positive reviews.
Speaking about the reviews, the sportsbook’s reputation is even more important sometimes than a license. Check various independent platforms and see what real customers say about the bookmaker. It also makes sense to research the latest news related to a bookie.
Available Betting Markets
The quality of the betting offer is essential, so look what sports, leagues, and events are included in the coverage. It’s not the best choice if a bookmaker offers nothing but a dozen of top popular sports with the major tournaments.
Odds and Lines
The quality of odds may say much about a sports betting provider. We recommend to shop the lines and check who has a better offer for a particular event.
Besides, there are seasonal promos, and it makes sense to compare them too: for instance, you can get a better price with a promo at a bookie that usually has lower odds and higher margins.
Try sticking to the sportsbooks that have a margin not exceeding 5% on the top sports leagues like NFL, NBA, etc. The soccer odds can also be a good indicator, but more niche sports can include margin of about 7%-9%, and it’s also perfectly normal.
Bonuses at Tennessee Sportsbooks
We also notice the bonus program that you can find at various sports betting sites. Many of them are similar, but it still makes sense to compare bonus wagering requirements and other parameters. Some pro bettors don’t opt for bonuses at all as they need instant wins without any rollover terms. However, as a recreational bettor, you might want to take part in various promos, get some free cash or free bets.
All Tennessee sportsbooks are available via mobile apps. Even if you enter a site from your PC, you will have to download an app to join and take part in all wagering activities. We selected the best apps, with the most intuitive UI/UX designs, user-friendly interfaces, and quick performance.
Best TN Sports Betting Apps
Live Betting Options
If you love wagering in-play, check what a bookmaker can offer: does it have regular live events? Is there a match center? What are some special features like cash out or live stream? Finally, look at the live betting odds and how they fluctuate. It’s great when a bookie has a quick bet feature allowing you to catch the best odds in real time before they change.
Professional Teams from Tennessee That You Can Bet on
One of the youngest NBA teams, Memphis Grizzlies are one of the most outstanding franchises of the league. There are bets on Grizzlies at every sportsbook.
Games with Tennessee Titans usually gain much popularity, so you will most likely enjoy a plethora of markets for such events: from match and half bets to exotic props.
One of the leaders in the Central Division, the Predators are famous for their strong offensive and defensive players. You will always find them in match coupons and Futures betting options.
The MLS is not as popular as the major leagues, but wagering on soccer can be also profitable and exciting enough. The odds for Nashville games are available at all sports betting sites during the season.
Tennessee sports betting market is very promising, and one of the quickest developing within the whole USA. Experts predict revenue growth and opening of more legal sportsbook on the Volunteer State territory. With the strong support of professional leagues, lobbyists, and sports bettors, the state has all chances to come close to New Jersey’s and Nevada’s success.
When did sports betting become legal in Tennessee?
Sports betting went live in 2021 in Tennessee after the gambling bill was signed by the governor in 2020.
What is the best sportsbook in Tennessee?
We can’t ultimately name the best sportsbook, and thus offer you to check our rrating. Among the top popular and trusted names are the DraftKings, FanDuel, BetMGM, and BetRivers.
What sportsbook can I use living in Tennessee?
You can opt for most top gambling brands: BetMGM, Points Bet, FanDuel, DraftKings, and other reputable sportsbooks and their mobile apps.
Last updated on 26 Jan 2023- 06:59
Author: Harry Sunderland
As a former successful professional bettor, Harry Sunderland has developed analytical thinking skills helping him to make the right picks for sports events. His specific interest in MMA allows him to provide ... the readers with accurate ideas and create comprehensive guides and reviews on the UFC fights and combatants. Being a huge Soccer fan, Sunderland has much to tell readers about the game nuances and the most probable match outcomes.Show more
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