Tennessee Sports Betting: Best TN Sportsbooks & Signup Bonuses
Tennessee’s sports betting scene is unique. It was the first state to legalize online sports betting without allowing other forms of gambling. This bold move created an online-only market, which went live on November 1, 2020.
The Sports Wagering Advisory Council (SWAC) oversees and regulates sports betting in Tennessee, ensuring fair play and adherence to state laws. To place a sports wager in Tennessee, bettors must be physically present within state lines, and all betting occurs online due to the absence of in-person options. Currently, 12 licensed online sportsbooks are operating in the state, each offering competitive odds and exciting promotions.
Learn how to bet from anywhere in the state, identify the best Tennessee sportsbooks, and take advantage of the latest signup bonuses in this all-encompassing guide.
Tennessee Sports Betting Breakdown
Legalizing online sports betting in Tennessee was a meticulous process that began with the passage of the Tennessee Sports Gaming Act in June 2019. This groundbreaking legislation paved the way for an online-only sports betting market, a first in the United States. The state’s Tennessee online sportsbook began operation on November 1, 2020, marking a significant milestone in the state’s gambling history.
The Sports Wagering Advisory Council (SWAC) plays a crucial role in overseeing all regulatory responsibilities for sports betting. This includes issuing licenses to operators, ensuring compliance with state laws, and maintaining the integrity of the betting environment. Tennessee sportsbooks are required to withhold 10% of all wagers, which can impact the odds for bettors but ensures a stable revenue stream for the state.
Licensing in Tennessee is straightforward yet stringent. There are currently 12 legal online sportsbooks operating within the state. Each licensed operator must adhere to the Tennessee sports betting rules, including a 20% tax on gross gaming revenue. Understanding these rules, including wagering requirements and the rights of operators, is crucial for bettors to be informed about what is permissible in Tennessee’s sports betting landscape. Additionally, local tracks can host up to three online skins each, expanding the market and offering more choices to Tennessee bettors.
Best Tennessee Sports Betting Sites Ranked
Ready to find out which sportsbooks reign supreme in Tennessee? Here is our definitive ranking of the best sports betting sites currently available:
1. Fanatics Sportsbook Tennessee
Fanatics Sportsbook Tennessee is a rising star in the state’s sports betting market. Launched in May 2023, Fanatics offers a generous welcome bonus. New users can receive a Bet and Get up to $1,000 in No Sweat Bets offer! Claim your welcome offer today by clicking on this link, as no Fanatics Sportsbook Tennessee promo code is required!
Fanatics Sportsbook offers various bet types, including moneylines, point spreads, and live betting options. The platform also includes a rewards program that allows users to earn ‘FanCash’ on their betting activities. Fanatics ensures a comprehensive and enjoyable betting experience for Tennessee bettors with a user-friendly app and responsible gaming practices, ultimately making it my top choice among all Tennessee sportsbooks.
2. BetMGM Sportsbook Tennessee
BetMGM Sportsbook Tennessee offers a choice between two attractive welcome bonuses:
- The BetMGM Tennessee bonus code ON1600 offers a 20% Deposit Match up to $1,600 in Sports Bonus!
- The BetMGM Tennessee bonus code grants players Up to $1,500 Back in Bonus Bets if Your First Bet Doesn’t Win!
This flexibility caters to new and experienced bettors, allowing them to choose the best offer that suits their betting style.
BetMGM is renowned for its user-friendly mobile app, which holds high App Store ratings and Google Play ratings. The app features live betting on over 20 sports, enhanced with real-time statistics and animations. Unique features like ‘Edit My Bet’ and Cash Out options enhance the betting experience, making BetMGM another great choice for Tennessee sports bettors.
3. Caesars Sportsbook Tennessee
Caesars Sportsbook Tennessee offers a competitive welcome bonus of 10 100% Profit Boost Tokens when you bet $1! New TN players can receive this offer by signing up with the Caesars Sportsbook Tennessee promo code ONMAXDYW.
up to $1,000 Back in Bonus Bets if Your First Bet Doesn’t Win through the Caesars Sportsbook Tennessee promo code ON31000. This, combined with their comprehensive rewards program, makes Caesars a formidable player in the Tennessee sports betting market.
The Caesars app is designed for easy navigation, allowing users to add bets and adjust wager types quickly. With a range of betting markets, including major sports, college events, and niche sports, Caesars ensures that there is something for every bettor.
Additionally, the app’s customer support is accessible via email, live chat, or phone, ensuring that help is always available.
4. ESPN BET Tennessee
ESPN BET Tennessee is a fantastic option for bettors who appreciate diversity in their betting options. Its $1,500 First Bet Reset welcome offer provides a solid safety net for new users, making it easier for newcomers to get started without the fear of losing their initial investment.
The ESPN BET app integrates seamlessly with ESPN’s extensive sports coverage and analytics tools, providing a rich user experience. The platform supports various betting options, including live betting, which keeps users engaged during sporting events.
With a focus on responsible gambling practices, ESPN BET ensures users can enjoy their betting activities responsibly.
Retail Sports Betting in Tennessee
Tennessee is rather unique in the United States iGaming realm due to its online-only sports betting model. When the state launched its sports betting market on November 1, 2020, it did so exclusively online, with no plans for physical retail sportsbooks. This means all sports wagers in Tennessee must be placed through online platforms.
Despite the absence of retail sports betting, Tennessee’s online sportsbooks have thrived. Major operators like BetMGM dominate the market, providing a wide range of betting options and promotions. The online-only model has proven successful, with the total handle for sports betting in Tennessee exceeding $4.2 billion in 2023.
How to Choose the Best Tennessee Sports Betting Site
Choosing the best Tennessee sports betting site involves considering several factors, including the following:
Competitive Odds
Competitive odds are vital for maximizing potential winnings. Tennessee sportsbooks typically offer odds aligned with industry standards, but slight differences can provide better payouts. Bettors should monitor odds across various sports betting markets to find the most advantageous betting lines.
Some sportsbooks offer enhanced odds or boosts for specific events, creating more favorable betting conditions. However, bettors should be aware that Tennessee sportsbooks must hold 10% of all wagers, which can affect odds compared to other states.
Welcome Bonuses
A solid welcome offer can make a significant difference for new bettors. These offers often include deposit matches, bonus bets, and first bet insurance, providing a great way to start betting without immediate risk.
No-deposit bonuses are also sometimes available, allowing users to try the platform without any initial financial commitment. Comparing these offers can help bettors choose the best sportsbook for their needs.
Promos for Existing Users
Promotions for existing users are just as crucial as welcome offers. Tennessee sportsbooks frequently offer ongoing promotions, including bonus bet opportunities and referral bonuses. Reload bonuses, which reward additional deposits, are another common promotion.
Loyalty programs allow users to accumulate points for every wager placed, which can be redeemed for bonuses or other perks. Regular promotions like odds boosts and cashback offers also add value, making staying engaged with the platform worthwhile.
Easy-to-use Mobile App
A user-friendly mobile app is essential for a seamless betting experience. Most Tennessee sportsbooks provide dedicated apps for both iOS and Android, allowing for convenient betting on the go. These apps often include features like live streaming and push notifications to enhance user engagement.
The interface design is crucial, as a well-structured layout helps users find betting options quickly and efficiently. High user ratings on significant platforms indicate customer satisfaction and reliability.
Competent Customer Service
Effective customer service is a key factor in choosing a sportsbook. Tennessee sportsbooks offer multiple customer support channels, including live chat, email, and phone. Prompt assistance ensures users can resolve issues quickly and continue betting without disruptions.
Comprehensive FAQs and guides are valuable resources, helping users navigate the platform independently. User reviews often highlight the quality of customer service as a deciding factor in choosing a sportsbook.
How to Sign Up with a Tennessee Sportsbook
Signing up with a Tennessee sportsbook is straightforward. First, users need to provide personal information, such as their name, address, date of birth, and social security number, for verification. Most sportsbooks require a minimum age of 21 years old for users to register and place bets.
After completing the registration process, users must verify their identity, often by submitting a form of identification or using a verification service. Once the registration is complete, users can deposit funds through various banking options on the sportsbook platform, such as PayPal, ACH e-Check, and credit/debit cards.
Tennessee Sports Betting Legislation Timeline
The journey to legalized sports betting in Tennessee was a series of significant legislative milestones:
- 2018: The U.S. Supreme Court overturns the Professional and Amateur Sports Protection Act (PASPA), allowing states to legalize sports betting.
- November 2018: Tennessee lawmakers discuss potential sports betting legislation following the Supreme Court’s decision.
- April 2019: The Tennessee Sports Gaming Act is introduced in the state legislature.
- May 2019: The Tennessee Sports Gaming Act is passed by the Tennessee General Assembly and signed into law by Governor Bill Lee.
- July 2019: The Tennessee Lottery begins the process of creating regulations for sports betting.
- November 2020: Online sports betting officially launches in Tennessee, with several operators going live, including DraftKings, FanDuel, and BetMGM.
- 2021: The Tennessee Lottery reports strong revenue figures from sports betting, highlighting the popularity of online wagering in the state.
- 2022: Continued expansion of sports betting offerings and promotional activities to attract more bettors.
- 2023: Ongoing adjustments to regulations and introduction of new operators, further solidifying Tennessee’s position in the sports betting landscape.
Tennessee Sports Betting Tax Rates and Revenue
Tennessee has established a 20% tax rate on the adjusted gross income of sportsbooks operating within the state. This tax revenue is crucial for funding various state initiatives and programs. The revenue generated from sports betting is allocated to several key areas, including the Tennessee Education Lottery Corporation, the Tennessee General Fund, and the Problem Gaming and Addiction Treatment Fund.
In 2023, Tennessee’s sports betting industry generated an impressive $83.6 million in tax revenue. This substantial figure underscores the financial benefits of legalized sports betting for the state, contributing to educational programs, public services, and initiatives aimed at addressing problem gambling. The robust tax framework ensures that the state can continue to reap the economic benefits of its thriving sports betting market.
Benefits of Signing Up for Multiple Sportsbook Accounts
Signing up for multiple sportsbook accounts can offer numerous advantages for Tennessee bettors, enhancing their overall betting experience and maximizing their potential returns. Here are a few reasons why:
- Compare odds and lines: Different sportsbooks often provide varying odds and lines for the same events. By maintaining accounts with multiple sportsbooks, bettors can compare these odds and select the most favorable ones, potentially increasing their winnings.
- Take advantage of promotions and bonuses: Each sportsbook offers unique promotions and bonuses. By having multiple accounts, bettors can capitalize on these offers, such as deposit matches, bonus bets, and insured bets, thereby boosting their betting bankroll.
- Access to a wider range of sports and markets: Different sportsbooks may specialize in various sports and betting markets. Multiple accounts allow bettors to explore a broader array of betting options, from major leagues to niche sports.
- Improve bankroll management: Spreading bets across multiple accounts can help bettors manage their bankroll more effectively. This strategy can minimize losses and provide a more balanced approach to betting.
By signing up for multiple sportsbook accounts, Tennessee bettors can optimize their betting strategy, access a wider range of options, and enjoy a more rewarding and engaging sports betting experience.
What is the Legal Betting Age in Tennessee?
To legally place a sports bet in Tennessee, individuals must be at least 21 years old. This age requirement also applies to participating in daily fantasy sports (DFS) and horse race betting within the state. Ensuring bettors meet this age threshold helps maintain responsible gambling practices and protects younger individuals from premature exposure to gambling activities.
Tennessee Daily Fantasy Sports Options
Tennessee offers several engaging options for daily fantasy sports (DFS) enthusiasts. Platforms like PrizePicks allow players aged 19 and above to participate in fantasy contests where they select player performance projections and compete against others based on skill level. The highest potential payout in PrizePicks’ Pick’ Em Arena can reach up to 10 times the initial lineup fee, offering substantial rewards for successful predictions.
With PrizePicks, players can only see projections for events scheduled within the next 20 hours, which requires timely participation and strategic planning.
What Sports Can I Bet on in Tennessee?
In Tennessee, bettors have many sports to choose from when placing their wagers. The state allows betting on professional sports, major college sports, and select niche events.
While betting on college sports is allowed, sports wagers on player props for college athletes are prohibited to protect the integrity of collegiate competitions.
Which Banking Options are Available at Tennessee Sportsbooks?
Tennessee sportsbooks offer various banking options to accommodate different preferences for deposits and withdrawals. Players can use methods such as PayPal, ACH VIP Preferred e-Check, and bank wire transfers for quick and secure transactions. E-wallets like PayPal and Neteller are popular due to their fast processing times and added security.
For those who prefer cash transactions, PayNearMe allows deposits at retail locations like 7-Eleven and CVS. Prepaid cards provided by sportsbooks offer another convenient option for deposits and ATM withdrawals. Withdrawal methods include ACH e-check, PayPal, and prepaid cards, with processing times varying depending on the method chosen.
Frequently Asked Questions on Tennessee Sports Betting
Below are some frequently asked questions about Tennessee online sports betting:
Is sports betting legal in Tennessee?
Yes, sports betting is legal in Tennessee. It was established in 2019, and online sportsbooks launched in November 2020.
Do I need to live in Tennessee to place a bet?
You don’t need to be a resident of Tennessee to place a bet, but you do have to be physically in the state when you do it. So, make sure you’re there when you’re ready to bet!
Which sportsbooks are available in Tennessee?
Tennessee offers a variety of online sportsbooks, including popular options like Caesars, ESPN BET, BetMGM and Fanatics.
Can I bet on college sports in Tennessee?
Absolutely! Wagering on college sports in Tennessee is fair game, however, collegiate player props are unfortunately not offered in the state.
What is the best Tennessee sportsbook?
Fanatics Sportsbook Tennessee is the best option due to its generous welcome bonus and easy-to-use mobile app.
Are online casinos legal in Tennessee?
Online casinos are not legal in Tennessee, but residents can play at social casinos, which offer fun casino gaming experiences and the chance to win sweepstakes prizes. Popular options include platforms like Pulsz and McLuck, which are fully legal and accessible in the state.
