Legal Tennessee Online Betting in September 2020

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

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Online Sports Betting in Tennessee

sports betting legal in Tennessee

Tennessee has joined the legal sports betting club – but will excessive regulations sink their market?

On April 30, 2019, Tennessee online betting sites, at least on paper, became legal. At the time, gamers praised the Volunteer State for avoiding the protectionist model other states were adopting. In short, Tennessee would NOT require sports betting sites to partner with a brick-and-mortar casino. 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, and the second-highest sports betting tax in the country (Only PA is higher).

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

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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 licenses the state can issue.

Assuming it can work out its regulation issues, Tennessee will be a highly competitive market. To attract customers, providers will offer customers a variety of welcome promotions. When you are claiming your welcome bonus, remember to check if the casino requires any promo codes. At least the following bonuses will be offered in Tennessee.

  • Risk-free bets
  • Free bets
  • Deposit bonuses

In the beginning, Tennessee online betting sites will likely offer risk-free bets, which means that online sportsbook will cover the bet if the player loses.

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.

Some sportsbooks will also use casino-style deposit bonuses to attract customers. In return for depositing money, your bookie will match 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 Betting Promos

Welcome offers are only the beginning. To keep customers, sportsbooks must provide an incentive to stay. Assuming Tennessee gets its issues sorted out, its 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 players to stay. They include, but are not limited to, the following:

  • 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 & Odds 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 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!

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!

Available Sports in Tennessee

Given the size and market potential of Tennessee, it will most likely attract the biggest players in the business. Therefore, betting on sports leagues such as NFL, NBA, MLS, NHL, and MLB will certainly be available in Tennessee. Furthermore, as the competition increases, you’ll most likely be able to bet on at least the following renonwned international events as well.

  • UEFA Champion’s League
  • English Premier League
  • The Wimbledon
  • Tour De France

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

TN Online Betting Apps

Currently in September, there are no legal 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 sportsbooks will open up in Tennessee.

TN Sportsbook Betting App Software
FanDuel Yes iOS / Android
DraftKings 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 bookies and bettors alike. High hold rates and taxes mean that only industry-leading brands stand a chance at long-term success.

At least four players have the resources to survive this harsh environment, including FanDuel and DraftKings. When they launch, they’ll offer an app for customers who have either iOS or Android devices.

Banking at a TN Bookie

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

Ready to try out Tennessee online betting sites? 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

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, request a PayPal transaction on your sportsbook. Within seconds, your funds will be transferred – and neither your bank or other actors will know about it.

  • Prepaid cards
  • PayNearMe

Need more privacy? Sadly, Cash at the Cage likely won’t be an option, as Tennessee law doesn’t require brick-and-mortar partnerships. 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, William Hill has a card of its own. If they enter the TN market, William Hill may offer it as a deposit/withdrawal method.

Withdrawal Methods

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

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

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.

Bank and ACH transfers are the next fastest. After approval, these withdrawals take three to five business days to land in your account. PayPal withdrawals take less than 48 hours to complete. However, this time frame does NOT include transit time between PayPal and your bank. Unless you pay for an expedited transfer (less than 24 hours), tack on an extra three to five business days.

Unsurprisingly, paper checks come in last place. Allow a minimum of seven to ten business days for your funds to arrive in your mailbox.

TN Betting Conclusion – Legal Betting might be just weeks away

Tennessee online betting sites will come online on November 1st 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, Tennessee will be a thriving market with unparalleled freedom.

Tennessee Sports Betting FAQ

Is sports betting legal in Tennessee

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

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

No. In fact, we advise strongly against it. Tennessee sports betting regulations prohibit sportsbooks from accepting out-of-state wagers. This rule is similar to what is in place in other states. In those jurisdictions, sportsbooks track your location using geolocation software.

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

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 they released them for public comment, there was an uproar. For starters, the sports betting tax will be among the steepest in the country – only Pennsylvania’s will be higher.

Worse yet, Tennessee is mandating sportsbooks to hold up to 15% of a wager. Simply put, this requirement will force bookies to post odds markedly worse than offshore competitors.

Is FanDuel Sportsbook coming to Tennessee?

No official announcement has been made. However, sources indicate they are among the sportsbooks working toward a 2020 launch.