If you’re in Tennessee and in the mood for some bets, you’re in luck. The state joined the list of US states that have now legalized sports betting. At the end of April 2019, the state passed legislation making online and mobile sports betting legal. That means that anyone in the state of Tennessee, whether they’re a resident or not, can now get in on the action and place bets online.
If you want to get started legal sports betting in Tennessee, there are a few things you’ll need to know first. In this guide, we’ll explain what options you have if you’re in Tennessee and want to place a bet. Betting might be legal in the state, but there are still lots of restrictions. Find out everything you need to know about sports betting in TN by reading our full guide below.
What Are the Rules Regarding Sports Betting in Tennessee?
The state made sports betting legal in 2019, but that doesn’t mean total freedom to bet how you like, unfortunately. There are still restrictions on how and where you can bet. The first major restriction is that you can only bet online. This means you can’t go into a physical sportsbook location like in Vegas and place your bets this way. While this is a shame, the growing trend of online betting is showing us that retail sportsbooks may soon become a thing of the past anyway.
There are plenty of great betting sites in New Jersey and Nevada, and Tennessee looks set to follow. However, unlike these states, TN online betting sites have a capped payout of 90% and a minimum hold of 10%. This means that Tennessee sports betting sites will offer uncompetitive odds compared to some other sportsbooks. For example, the average hold in Nevada is just 5.4%.
On top of this, all legal online sportsbooks will need to pay a 20% tax and a $750,000 licensing fees. This makes it difficult for all but the biggest names to set up shop in the state. So far, then, the odds are not looking good for Tennessee bettors. However, there is still a lot to look forward to when it comes to online betting in TN.
Where Can I Place a Bet Legally in Tennessee?
Right now, there aren’t any legal betting sites up and running in Tennessee. This is expected to change by September 2020, though. Already, four companies have applied and received licenses from the Tennessee Education Lottery. It’s thought that these will be some of the biggest betting brands that are already well established in the US.
Right now, the expected sites that will be setting up in Tennessee include:
- Draft Kings – Draft Kings is famous for its fantasy sports platform. The site moved into the world of online betting in 2018 as it launched its mobile betting site in New Jersey. Since then, the brand has become a fan favorite for sports bettors all over the US. It’s opened up business across multiple states, and it looks like Tennessee is next on the list.
- 888 – 888 is one of the biggest gambling brands in the world. The company has been in business since 1997. It now runs betting sites, online casinos, online poker, and online Bingo sites across multiple countries. Such a huge betting company is unlikely to want to miss out
on the merging Tennessee market, and we’re certain it will be opening its site for TN bettors soon.
- BetMGM – BetMGM is owned by the famous MGM Resorts International, which runs major brick and mortar casinos all over the US. In 2017, the company launched its online betting and casino services in the US. Originally just for players in Nevada and New Jersey, the brand has since expanded to other states. We expect Tennessee to join the list of states with a BetMGM online sportsbook over the next few months.
- Fan Duel – Just like Draft Kings, Fan Duel started out as a fantasy sports site. Since online gambling restrictions in the US lifted, the site has expanded into the sports betting market. Fan Duel offers one of the most user-friendly online betting experiences of any site.