Legal Tennessee Online Betting in October 2020

After months of debate, Tennessee is set to become the latest state to offer legal sports betting on Nov 1. However, burdensome taxes and other regulations may hobble the launch. What can you expect from Tennessee sportsbooks in 2020? We'll break it down all the information for you in this extensive review.

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Legal Sports Betting Sites in Tennessee

BetMGM Online Sportsbook is the first sports betting site to open in Tennessee. They offer new players in Tennessee a sports betting bonus of $500 awarded as a risk free bet. BetMGM Sportsbook Tennessee also has many sports betting promos and live streaming.

Tennessee Sports Betting Bonus

BetMGM Tennessee bonus is $500 risk free bet for new players.

Online Sports Betting in Tennessee

sports betting legal in Tennessee

Tennessee became the next state to join the legalized sports betting club – but will excessive regulations sink their market? Tennessee Lottery has announced that online sports betting will open on Nov 1.

On April 30, 2019, online sports betting sites became legal in Tennessee, at least on paper with what seemed to be one of the most progressive sports betting laws. At the time, gamers praised the Volunteer State law for avoiding the protectionist model other states were adopting. In short, Tennessee would NOT require sports betting operators to partner with a land based casino or retail sportsbooks. However, in the months since legalization, proposed rules have drawn the ire of Tennessee bettors.

These measures include deeming ties as parlay losses, a 10% mandatory hold rate, $750,000 licensing fee, and the second-highest sports betting tax rate in the country (Only PA is higher).

The State of Sports Betting Sites in Tennessee

In midst of the heated debate, people from the Sports Wagering Committee of the Tennessee Education Lottery Corporation have announced that online sports betting apps are able to go live on November 1st or earlier. What can sports bettors in Tennessee expect when the lights finally turn on? We’ll cover what we’ve heard in this extensive review.

Tenssee clearly wants its part of the sports betting revenue. That explains the high sports betting tax as Tennessee’s sports betting tax revenue is at 20% with high licensing fees. However, the state regulates sports betting heavily, which might negatively impact the market.

Legal Tennessee Sportsbooks – Free Bets, Risk-Free Bets & Deposit Matches

With a state population of seven million, Tennessee has the potential to be a decent sports betting market. The lack of a sponsoring requirement means that, effectively, there’s no limit to the number of sports betting licenses the Tennessee State Lottery can issue.

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Come for FanDuel’s attractive welcome offer, stay for the awesome promos.

Assuming it can work out its regulation issues, Tennessee will be a highly competitive legal sports betting market. To attract Tennesseans, providers will offer customers a variety of welcome promotions. When you are claiming your real money sports betting welcome bonus, remember to check if the casino requires any promo codes. Make sure to read the terms and conditions as well

Tennessee Sports Betting Risk Free Bets

In the beginning, sports betting Tennessee will likely offer risk-free bets, which means that online sportsbooks will cover your loss if the bet loses.

Tennessee Sports Betting Free Bets

Free bets are more aggressive. As the name suggests, the betting site GIVES you money to wager with. If you lose, you lose the house’s money. However, if you win, you collect the profit, but NOT the stake.

Tennessee Sports Betting Deposit Bonuses

Some sportsbooks will also use casino-style deposit bonuses to attract customers. In return for depositing money, your bookie will give you a signup bonus matching a certain percentage, and up to a specific cap. For example, a 100% up to $250 deposit bonus will yield you $250 in BONUS CASH if you deposit $250 of your own funds.

Tennessee Online Sports Betting Promos

Welcome offers are only the beginning. To keep bettors in Tennessee interested, sportsbooks must provide an incentive to stay. Assuming Tennessee gets its issues sorted out, its legal sports betting market is set to be a competitive one. If a bettor doesn’t like a site’s layout, its odds, etc., they’ll jump to another website – just like that.

There’s one thing successful sportsbooks have in common – engaging ongoing promotions. As such, there are many ways to entice sports betting players to stay. They include, but are not limited to, the following list:

  • Reload bonuses
  • Profit boosts
  • Odds boosts
  • Insurance promos
  • More

Reload bonus

Reload bonuses are among the most common promos out there. Here’s how they work: in return for re-depositing a minimum amount (usually $10-$20), they’ll match to a certain percentage/cap. Let’s say DraftKings is offering a Monday Night Football 50% reload bonus. They’ll give you 50% of whatever you put on the site, up to a limit of $100. To max out this promotion takes only $200 – not a bad deal!

Profit Boosts

As fun as that is, it’s an offer commonly found in online casinos. Profit and odds boosts, on the other hand, are exclusive to legal sports betting sites. A profit boost magnifies the money you make on a wager. For instance, let’s say you apply a 20% profit boost to a wager that will pay you $200. If you win, you’ll make $40 EXTRA on top!

Odds Boosts

What about odds boosts? As the name suggests, it applies its magic to the odds part of the equation. For instance, let’s say you’re wagering on the Memphis Grizzlies to win at -180. An odds boost might change that to -220, leading to an increased payout if you win!

Insurance Promos

Finally, we’ve all experienced the sting of the “miracle comeback.” A 4-6 team comes back from three touchdowns at the half to win – it hurts! Insurance promos, most often available on parlays, can protect your investment. If a last-minute comeback turns your bet into a loser, it will pay part or ALL your stake back!

Tennessee Sports Betting Promo Code

Casino gaming and sports betting bonuses sometimes require a bonus code. Because we don’t know the legal Tennessee sportsbooks yet, we can’t give you the exact bonus code details yet. When they are available, BonusFinder will bring them to you.

What Sports Betting Markets Will Be Available in Tennessee

Given the size and market potential of legalized sports betting landscape in Tennessee, it will most likely attract the biggest players in the sports betting industry. Therefore, betting on professional sports leagues such as NFL, NBA, MLS, NHL, and MLB will certainly be available in Tennessee.

NFL Betting in Tennessee

The Tennesee Titans haven’t been a regular in the NFL playoffs during the 2010s, and their odds of winning the Super Bowl are slim at best. However, a loyal fan base follows each home game at the Nissan Stadium during the NFL season. For the sports bettors, proposition bets might be the way to go when betting on the Tennessee Titans.

NHL Betting in Tennessee

Ice Hockey in Tennessee is on the rise. The Nashville Predators were the division champions in 2017-2018 and 2018-2019 seasons. While they are still far from winning the Stanley Cup, they offer many interesting betting options.

MLS Betting in Tennessee

The Nashville SC (Soccer Club) entered the MLS in 2020 and they haven’t looked half bad. Their games are known for being low-scoring affairs, providing perfect opportunities for betting under.

MLB Betting in Tennessee

There has been a significant push to get a MLB team to Nashville in 2020. However, the plan is still under way, and it might be some time before Tennessee bettors can enjoy pro sports league level baseball in the state.

NBA Betting in Tennessee

The Memphis Grizzlies haven’t made the playoffs from the Western Conference in five years. For basketball fans in Tennessee things are not looking too bright, but maybe new minority owner Justin Timberlake can bring something to the table.

College Football Betting in Tennessee

Tennessee state sports betting rules do no not prevent bets on NCAA college games within the state like they do in New Jersey. Thus, you can place bets on college sports, and wager for the Tennessee Volunteers at Neyland where they have the highest college football team win total.

College Basketball Betting in Tennessee

The University of Tennessee Volunteers Basketball team is also highly succesful compared to the teams in professional sports leagues in the state. Conference champions in 2018, their all time win rate is impressive .611.

Foreign Markets Betting in Tennessee

As Tennessee sports teams are not very succesful, casual sports bettorss might want to check out foreign sports betting market options. Betting on the following sporting events will be available in Tennessee.

  • UEFA Champion’s League
  • English Premier League
  • Tennis US Open
  • Tour De France
  • The Olympics

Available Sports Bets in TN Sports Betting

If our assumption is correct, and the biggest sports betting operators will open in TN, they will offer at least the following bet types.

Moneyline

You bet on the winner. For example, you can bet on the Nashville Predators to win the Colorado Avalanche. Simple.

Spread Bets

However, sports games are often not evenly matched, and online sportsbooks try to offer interesting odds for bettors. For example, if the Patriots are playing Tennessee Titans, the bookie might offer a Patriots -7,5 bet. If the Patriots win by 8 or more, the spread bet wins.

Prop Bets

Continuing with the same example, the online sportsbook might also offer a bet that Tom Brady scores two touchdowns. This is called a proposition bet or a prop bet.

Over/Unders

You can also bet on the total points scored in a game. For example if the Tennessee Volunteers Basketball are playing Kentucky Wildcats, you can bet on whether the combined score is over or under 150,5.

Futures Bet

In futures bets, you bet on a future event. For example, you could bet on the college football season winner.

Parlays

Parlays are a combination of multiple moneyline bets. For example, you if all the Tennessee pro sports teams play on the same day, you can wager that they all win.

Live Betting

Live betting, or in-game betting is done during the event. Sometimes you can even wager on very specific things like the next foul committed.

Are There Bets That Are Not Legal in Tennessee Sports Betting?

Yes. Live betting on collegiate events and collegiate prop bets are are not legal in Tennessee sports betting, but pretty much anything else flies in the Volunteer State.

How to Join a Tennessee Sportsbook

In order to get the bonuses from a legal Tennessee Sportsbook, you’ll need to provide them with some details. The most commonly required fields are listed below:

  • First name
  • Last name
  • Gender
  • Date of birth
  • Social Security Number
  • Email address
  • Home address
  • Zip code
  • Mobile phone number
  • Age verification

Tennessee Sports Betting Apps

Currently in October, there are no legal sports betting apps to be found in Tennessee. However, as sports betting is set to become legal in November, there’s a good chance four major sportsbook apps will open up in Tennessee.

TN Sportsbook Mobile Sports Betting App Software
FanDuel Sportsbook Yes iOS / Android
DraftKings Sportsbook Yes iOS / Android
William Hill Yes iOS / Android
Unibet Yes iOS / Android

Proposed Tennessee sports betting regulations, if adopted, will create a challenging environment for sports wagering on the internet. High hold rates and taxes mean that only industry-leading brands stand a chance at long-term success. The ability to run a sportsbook without a land based partner will mean that sportbooks can move quickly in Tennessee.

At least four players have the resources to survive make meaningful revenue from online sports betting in Tennessee, including daily fantasy sports operators FanDuel and DraftKings. When they launch, they’ll offer an mobile apps for customers who have either iOS or Android smartphone devices.

FanDuel Sportsbook Tennessee

Fanduel is already available in seven different states. It’s highly likely that their resources will enable opening a Tennessee sportsbook as well. Their daily fantasy sports site is already available in the state.

DraftKings Sportsbook Tennessee

DFS industry leader DraftKings Sportsbook is the most widely distributed online sports betting operator in the United States. They are available in eight states, and will surely open in Tennessee. Their daily fantasy sports site is already available in the state.

William Hill Tennessee Sportsbook

William Hill is an international giant with almost limitless resources. They are likely to open in Tennessee, due to the low competition rate in the state.

Unibet Tennessee Sportsbook

Unibet is another popular international sports wagering player, who might come to Tennessee. They are not hugely popular in the States, but they certainly have the resources to make a land grab in Tennessee.

Banking Options at Online Tennessee Sportsbooks

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Like other states, Tennessee will offer a variety of deposit methods.

Ready to try out online sports betting websites in Tennessee? When sites go live later this year, you’ll need to deposit first. We can’t say with 100% certainty what options will be available yet. However, based on offerings in other states, we are relatively sure about some of them.

Let’s get into it.

Deposit methods in Tennessee

The following deposit options are available in EVERY active sport betting market in America:

  • Credit cards (Visa/MasterCard)
  • ACH/online banking
  • PayPal

Credit cards and online banking are, by far, the easiest ways to get a bankroll online. You enter your details, and, within seconds, you’re in business.

However, these options might NOT be available to you. Some banks, despite a massive legalization push by the states, continue to treat sportsbook transactions as illicit. But even if you aren’t affected, privacy concerns may make a card/ACH deposit unrealistic.

In this case, PayPal is your best bet. Virtually all banks in the USA trust PayPal transactions, making PayPal deposits the perfect workaround. Start by moving your desired deposit onto PayPal. Then, head on to your sportsbook and request a PayPal transaction. Within seconds, your funds will be transferred – and neither your bank or other actors will know about it.

Are There Any More Discreet Deposit Methods at Tennessee Sportbooks?

  • Prepaid cards
  • PayNearMe

Need more privacy? Sadly, Cash at the Cage likely won’t be an option, as Tennessee law doesn’t require partnership with brick-and-mortar establishments. However, PayNearMe MIGHT. An app that turns physical cash into digital currency, it’s currently in use in multiple legal betting markets.

If PayNearMe is available, start by requesting a PayNearMe deposit. You’ll get a PayCode – take it and your cash deposit to a PayNearMe dealer and they will process your transaction.

At this point, it is unclear whether prepaid cards, like Play+, will be available. In other states, they are tied to brick-and-mortar casinos. However, some online casinos have a card of their own. If they enter the TN market, they may offer it as a deposit/withdrawal method.

Withdrawal Methods

Some deposit methods, like PayNearMe, are unavailable for payouts. If you can’t withdraw the way you deposited, the following methods MAY be available:

  • ACH (e-checks)
  • PayPal
  • Paper checks
  • Prepaid cards

Withdrawal Method Processing Times in Tennessee

Unlike deposits, withdrawals are NOT instantaneous. Prepaid cards are usually the quickest method – once a card withdrawal passes review, it is immediately available. You can use the card to pay for goods/services, or you can withdraw it as cash at an ATM.

Withdrawal Method Withdrawal Time
ACH (e-checks) 3 - 5 business days
PayPal 4 - 6 business days
Paper checks 5 - 8 business days
Prepaid cards 2 - 6 hours

Tennessee Sports Gambling Conclusion – Tennessee online sports betting might be just weeks away

Tennessee sports betting sites launch date is on Nov 1 or earlier. However, whether or not they will be successful remains an open question. As they stand now, Tennessee’s sports betting regulations may force odds to be markedly higher than offshore bookies. That’s not good news for the bettor.

If legislators adequately address these concerns, sports betting in Tennessee will be a thriving market with unparalleled freedom.

Tennessee Sports Betting FAQ

Is sports betting legal in Tennessee

Not yet. While Tennessee sports betting bill passed April 2019, legislators are still debating regulations. The most recent reports have the state issuing the first licenses by the end of Q2 2020.

When online sports betting in Tennessee is legalized, anyone anywhere within the state borders over 21 years of age will be able to place wagers.

Will I be able to place bets in Tennessee using a VPN?

No. In fact, we advise strongly against it. Although Tennessee sports betting is not only available to Tennessee residents, sports betting regulations prohibit sportsbooks from accepting out-of-state wagers. This rule is similar to what is in place in other sports betting states. In those jurisdictions, sportsbooks track your location using geolocation software.

They also track if you are using IP addresses associated with VPN services by using geolocation software. If a sportsbook catches you using a VPN IP address, they can close your sports betting account without warning and seize its funds. If you use a VPN for privacy purposes, turn it off before indulging in Tennessee sports betting.

Why is there so much controversy surrounding Tennessee sports betting regulations?

Over the past several months, Tennessee legislators have been drafting sports betting regulations. When regulators released them for public comment, there was an uproar. For starters, the sports betting tax rates will be among the steepest in United States – only Pennsylvania’s will be higher. The sports betting license fee of 750k is also an issue for many.

Worse yet, Tennessee is mandating sportsbooks to hold up to 15% of a wager. Simply put, this requirement will mean sports betting odds markedly worse than offshore competitors. Sportsbook operators are also required to buy league data from official sports leagues.

Finally, the sports betting law actually passed without signature from governor Bill Lee.

Is FanDuel Sportsbook coming to Tennessee?

No official announcement has been made. However, sources indicate they are among the sports betting companies working toward a 2020 launch. However, they don't have a sports betting license yet.

Is 21 years the legal sports betting age limit in Tennessee?

Yes. The legal sports betting age in Tennessee is the legal gambling age of other states, 21 years.

Can I bet on my mobile device in Tennessee?

Not yet, but soon! Most of the big players are set to launch a mobile betting app in the state.