Tennessee sports betting apps are unique in the US in that they are online-online sportsbook apps. This means that they are not joined to any local casinos. Most Tennessee sports bettors, though, wouldn’t know the difference as the state hosts some of the top betting brands in the US.
Prop bets have become the most popular type of Super Bowl wager. We go back in time to look at the history of props, how it started and cover some of the most famous ones over the years. When betting on sports, your goal is essentially to predict the outcome of a sports event and wager money according to what you think is going to happen. When you’re right, you win money. And when you’re wrong, you lose money. Even those who have no real interest in betting on sports have at least a basic understanding of what’s involved.
Tennessee joined the legal US online sports betting market last November. The Volunteer State doesn’t play home to any land-based casinos, making all of Tennessee’s sportsbooks online-only platforms.
Four different mobile sportsbooks went live on the first day of legal sports betting in Tennessee. Several more brands expect to launch in 2021 as the Tennessee market continues to develop.
Tennessee Sports Betting: Recent Updates
- Tennessee sportsbooks yield $131.4 million handle in first month – With four mobile sportsbooks in action, Tennessee took $131.4 million in bets for November 2020. That marked the first full month of operations for Tennessee sports betting apps, which launched November 1.
- Four online sportsbooks go live at Tennessee sports betting launch – The first day of business for Tennessee’s legal sports betting industry saw four different mobile sports betting platforms go live. DraftKings, FanDuel, BetMGM, and Tennessee Action 24/7.
- William Hill, Churchill Downs, Wynn apply for operating licenses – A November meeting of the Tennessee Education Lottery revealed that three more online sports betting operators await approval. William Hill, Churchill Downs (BetAmerica), and Wynn are all expected to launch mobile sports betting apps sometime in 2021.
- Sports betting laws approved in Tennessee – The Tennessee Sports Gaming Act passed through state legislative chambers in April 2019. The bill became effective in July 2019.
- Online-only operating model outlined in Tennessee’s sports betting laws – With no retail casinos operating in the state, Tennessee lawmakers design the Tennessee Sports Gaming Act to include an online-only business model. This opens up the market for brands like DraftKings, FanDuel, and BetMGM to apply for licensure without tie-ins to retail casinos.
Reviews Of Tennessee’s 4 Best TN Sports Betting Sites
BetMGM Sportsbook Tennessee (9/10)
Visit: BetMGM Tennessee and get up to $500 Deposit Match Bonus
- Bonus: Risk-free bet up to $500
- Platform is available as an Apple iOS app, Android app, and desktop client
- Official Sports Betting Partner of the Tennessee Titans
- A wide selection of sports and betting options
- Best deposit option – PayPal
- Other deposit methods – ACH/eCheck, credit/debit card, Play+
Tennessee Titans fans can find BetMGM branding featured prominently at Nissan Stadium, the home of the Titans. BetMGM competes with anything in the market in sports selection.
BetMGM welcomes new players with a risk-free bet up to $500. Other promotions include risk-free player prop bets on which player will score first in selected games.
The History Of Sports Betting
FanDuel Sportsbook Tennessee (9.8/10)
Visit: FanDuel Tennesse and Claim a $1,000 Risk Free Bet
- Bonus: Welcome bonus includes a risk-free bet up to $1,000
- Available as an app for Apple iOS and Android devices, and also accessible through desktop
- Official Sports Betting Partner of the Memphis Grizzlies
- A comprehensive selection of domestic, international, and niche sports
- Best deposit option – PayPal
- Other deposit methods – ACH/eCheck, credit/debit card, FanDuel Play+
The launch of FanDuel Sportsbook brings America’s most popular online sports betting brand to the Tennessee market. Bettors in the Volunteer State can find just about any sport they’re looking for at FanDuel Sportsbook.
FanDuel welcomes new users with a risk-free bet up to $1,000 as a welcome bonus. Other promotions include “First Period Insurance” on NHL games.
DraftKings Sportsbook Tennessee (9.4/10)
Visit: DraftKings Tennessee and get up to $1,000 Deposit Match Bonus
- Bonus: 20% deposit match bonus up to $1,000
- Available for iOS, Android, and desktop devices
- Official Sports Betting Partner of the Nashville Predators
- Top-tier selection of betting markets and deposit/withdrawal options
- Best deposit option – PayPal
- Other deposit methods – ACH/eCheck, credit/debit card, DraftKings Play+
DraftKings Sportsbook presents one of the top overall sports betting platforms in the US. The selection of sports and ways to bet puts the platform in an elite class among legal online sports betting sites.
The welcome bonus at DraftKings Sportsbook comes in the form of a 20% deposit match up to $1,000. A $100 referral bonus awaits for bettors who bring new players to DraftKings Sportsbook.
Tennessee Action 24/7 (8/10)
- Bonus: 100% deposit match bonus up to $100
- Available as an Apple iOS app, Android app, and via desktop
- Locally owned and operated
- All major domestic sports leagues open for betting
- Best deposit option – Action 24/7 Play+
- Other deposit methods – ACH/eCheck, credit/debit card
Tennessee Action 24/7 operates as a locally-owned and operated online sportsbook. This unique product competes with national powerhouses in Tennessee’s online sports betting market.
Tennessee Action 24/7 offers new players a 100% deposit match bonus up to $100. Other bonus offers include parlay insurance on selected games.
TN Sportsbooks Coming Soon
William Hill Sportsbook (8.4/10)
- Coming soon to Tennessee; bonus offers TBA
- Available for iOS, Android, and desktop devices
- One of the most recognizable sports betting brands in the world
- Excellent selection of domestic sports
- Best deposit option – PayPal
- Other deposit methods – ACH/eCheck, credit/debit card, Play+
William Hill US applied for an operator license from the Tennessee Education Lottery. A William Hill Tennessee mobile sportsbook could go live in the Volunteer State sometime in 2021.
William Hill offers different welcome bonuses in different states, and the sportsbook’s offers for Tennessee players are yet to be determined.
All Tennesee Online Sportsbooks
|Sportsbook||Welcome Bonus||Launch Date|
|FanDuel Sportsbook||Risk-free bet up to $1,000||November 1, 2020|
|DraftKings Sportsbook||20% deposit match up to $1,000||November 1, 2020|
|BetMGM||Risk-free bet up to $500||November 1, 2020|
|Tennessee Action Network 24/7||Risk-free bet up to $500||November 1, 2020|
How To Place A Sports Bet In Tennessee
Choosing A Sportsbook
Four different online sportsbooks went live on the first day of legal sports betting in Tennessee. Several more brands are on the way to bettors in the Volunteer State.
Each sportsbook offers different bonuses, available betting markets, and odds. Check Gaming Today for the latest on which sportsbooks are live and what each offers in Tennessee.
Make Your First Deposit
Tennessee’s mobile sportsbooks allow rapid, secure deposits using several different methods.
PayPal, ACH/eCheck, credit/debit cards, and Play+ are available as deposit methods at most of the state’s sports betting sites. Each of these methods funds your account instantly, with PayPal offering the highest acceptance rate of all of these options.
Verifying Your Location
Tennessee’s mobile sports betting apps use geolocation services to determine your location. You can place wagers from anywhere in Tennessee, as long as the geolocation technology can determine you’re located within state borders at the time of a bet.
Registering An Account
New players will need to provide proof of age and identity, as well as a valid email address, to sign up for a new account at a Tennessee sportsbook.
Once these details are verified, you’re free to make your first deposit and start wagering.
Placing a bet on a Tennessee sports betting app is pretty straight forward. Tennessee sportsbooks offer moneyline, point spread, totals, parlays, and many other kinds of bets.
Online sportsbooks allow you to choose your bet by simply clicking on the team and wager you want to make. The bet then goes to your bet slip, and from there you can click again to confirm your wager.
Legal Sportsbooks Versus Illegal Bookmakers
The arrival of legal sports betting in Tennessee brings secure, regulated wagering to the Volunteer State. Black market bookmakers and offshore gambling sites will always exist, but Tennessee bettors would be wise to stick with the legal options available in the state.
The Tennessee Education Lottery (TEL) regulates the state’s legal betting sites. The oversight of the TEL ensures transparency and accountability from the state’s online sportsbooks, mandating prompt payouts, and secure transactions from operators. Illegal bookmakers and offshore sites don’t offer that same level of security.
Bettors must pay taxes on sports betting winnings, and sportsbooks will automatically withhold federal taxes on wins of $5,000 or more.
Tennessee Sports Betting Revenue
Tennessee’s first full month of sports betting operations yielded $131.4 million in betting handle, according tofigures released by the Tennessee Education Lottery.
That handle figure came from the four sportsbooks that launched on Nov. 1. Those products included DraftKings Sportsbook, FanDuel Sportsbook, BetMGM, and Tennessee Action 24/7.
November revenue came in at $13.2 million as the sportsbooks realized a 10% hold. Gross gaming revenue is taxed at 20% in Tennessee, and November revenue yielded $2.36 million in Privilege Tax earnings for the state.
Tennessee Sports Betting Compared To Other US States
The Tennessee sports betting market presents a unique case among legal US sports betting states. Tennessee law allows for multiple sports betting operators to compete in the state.
Without any land-based casinos, Tennessee’s sports betting rules allow brands to launch online-only mobile sportsbooks in the state. Tennessee stands as the only state to operate in this fashion, as all other states allowing competition among brands also require that land-based casinos get a piece of the market.
Geographically, the closest states to Tennessee that offer legal online sports betting are West Virginia, Indiana, and Iowa. All three are more than a year ahead of Tennessee in the legal sports betting market.
Indiana brought in just under $251 million in November betting handle. The Hoosier State shares a nearly identical population with Tennessee, as both states estimate just under seven million residents as of the end of 2020.
Both Indiana and Iowa ($87.2 million November betting handle) offer multiple different online sports betting brands. Tennessee could meet or exceed the number of different options available in Indiana (10) and Iowa (7) by the end of 2021.
Tennessee Sports Betting Successes And Failures
Tennessee Sports Betting Successes
The Tennessee sports betting market can chalk up at least one major recent successes – the recruitment of sports betting’s most viable brands to the Tennessee market.
The Nov. 1 launch date saw three of the industry’s most influential brands open for business in the Volunteer State. DraftKings, FanDuel, and BetMGM represent three of the most recognizable names in sports betting.
With all three entering the Tennessee market at the earliest possible time, the future looks bright for one of the newest sports betting markets in the US. William Hill, another huge name in sports betting, has applied for an operator license in Tennessee as well.
Where Tennessee Sports Betting Could Improve
Tennessee laws mandate that sportsbooks produce at least 10% hold, starting in 2021. Operators that don’t hit this mark are subject to a $25,000 fine at the end of the year.
That fine might not amount to much in the multi-million dollar sports betting industry. It could, however, encourage sportsbooks to look for ways to achieve that 10% hold mark.
Setting lines that yield higher vig presents one way sportsbooks could pump up the hold margin. This approach isn’t optimal in the long term, however, as Tennessee bettors would be inclined to avoid the books utilizing such a strategy.
The Sports Betting Legalization Effort In Tennessee
The path to sports betting legalization in Tennessee played out as a relatively smooth process. The measure that eventually became the Tennessee Sports Gaming Act started as House Bill 1 in late 2018.
The bill passed through the state House by a 58-37 margin, then the Tennessee Senate by a 20-12 mark. The sports betting bill went into law in May 2019 without a signature from Gov. Bill Lee.
Governor Leeobjects to any further expansion of gambling in Tennessee, which currently doesn’t host any land-based casinos. Lee only allowed the bill to go into law because of the online-only operator model.
The Tennessee Sports Gaming Act allows multiple operators to compete as online-only sportsbooks in the state. Gross gaming revenue is taxed at 20%, and sportsbooks are subject to fines if they don’t yield at least a 10% hold.
Multiple Delays In Tennessee’s Sports Betting Launch
The actual launch of operations for Tennessee’s online sportsbooks didn’t quite play out as smoothly as the legislation process.
The Tennessee Education Lottery announced several different start dates for regulated sports betting. After multiple hiccups, sports betting finally went live in Tennessee on Nov. 1, 2020.
Timeline For Tennessee Sports Betting
- December 2018 – State Representative Rick Staplesfiles House Bill 1, the predecessor to what would eventually become the Tennessee Sports Gaming Act.
- April 2019 – The sports betting bill gets through both the Senate Finance, Ways and Means Committee, as well as the state House. The bill getsapproved by a 58-37 margin in the House.
- April 2019 – The Tennessee Senate votes 20-12 in favor of legal sports betting. This votesends the Tennessee Sports Gaming Act to the desk of Gov. Bill Lee.
- May 2019 – Gov. Lee chooses to not sign the bill but doesn’t veto the Sports Gaming Act. This inaction from Gov. Lee clears the final hurdle for sports betting legalization in Tennessee.
- July 2019 – July 1, 2019, marks the first possible date for sports betting operators to launch in Tennessee. The language of the Sports Gaming Act allows sportsbooks to launch as online-only enterprises, without license agreements with land-based casinos.
- November 2020 – After several false starts, Tennessee’s online sportsbooksgo live. Four different sportsbooks (FanDuel Sportsbook, DraftKings Sportsbook, BetMGM, Tennessee Action 24/7) launch on Nov. 1, 2020.
Tennessee Sports Teams
Professional Sports Teams In Tennessee
Tennessee’s NFL franchise currently enjoys one of the most successful sustained runs in team history. The Titans produced five straight winning seasons from 2016-2020.
The team formerly known as the Houston Oilers relocated to Tennessee in 1997 and rebranded as the Titans in 1999. In that first season as the newly-named Tennessee Titans, the franchise went all the way to the Super Bowl.
The Titans won the AFC South in the 2020-21 season, and appear poised for a long run as one of the AFC’s top teams. The Titans’ next playoff run will be open for betting at Tennessee sportsbooks, all the way through the Super Bowl.
The NHL introduced the Nashville Predators in 1998, and in the past two decades, the team has enjoyed status as one of Tennessee’s most popular sports teams.
The Predators consistently sell out games at Bridgestone Arena, where the team has played since its inception. Nashville didn’t qualify for the playoffs in the team’s first five seasons, but since then the team has ridden a sustained wave of regular-season success.
Nashville has qualified for the Stanley Cup Playoffs 13 times since its first postseason appearance in 2003-04. The Predators made it to the Stanley Cup Finals in 2016-17, eventually losing to the Pittsburgh Penguins 4-2 in a best-of-seven series.
The Predators’ next playoff run will be open for wagering at Tennessee’s legal online sportsbooks. That includes the next Stanley Cup run for Nashville, whenever that happens.
Like the Titans, the Grizzlies moved from another city to establish a pro sports franchise in Tennessee. The Grizzlies moved from Vancouver to Memphis in 2001.
The Grizzlies lay claim to 10 playoff appearances since moving to Memphis, including a Western Conference finals berth in 2012-2013.
An exciting new era began for the Grizzlies when the team drafted guard Ja Morant in the 2019 NBA Draft. The next playoff run could be right around the corner for Memphis. When it arrives, Tennessee bettors can find numerous ways to bet on the Grizzlies throughout the playoffs.
Tennessee College Sports Teams
The University of Tennessee stands as one of college football’s most storied programs. Recent years have resulted in a drop off in status for the football program, which claims six national championships and 13 Southeastern Conference titles.
The last conference championship in football happened in 1998 for the Volunteers. Tennessee made five bowl appearances in the 2010s, with the last coming in 2019.
The Tennessee men’s basketball program emerged as a perennial contender in the SEC throughout the 2010s. The program made five March Madness appearances over the course of the decade, including three Sweet 16 berths.
The Lady Vols’ women’s basketball program stands as one of the most successful programs in the history of women’s college basketball. The Lady Vols hold eight National Championships and have appeared in all 36 annual editions of the NCAA Women’s Basketball Tournament.
The University of Memphis Tigers men’s basketball program has forged a reputation as one of the most consistent programs in the NCAA over the past four decades. Play free governor of poker. The Tigers have 21 NCAA Tournament appearances in that span.
Memphis made a Final Four run in 2008, making it all the way to the championship game before losing to Kansas in overtime. The program last made it to March Madness in 2014, as recent years have seen a decline in success for the program.
The Memphis football program won the American Athletic Conference title in 2019, finishing 12-1. The team boasts bowl appearances in each of the last seven seasons.
Restrictions On College Sports Betting In Tennessee
Both NCAA football and basketball are open for betting at Tennessee sportsbooks. This includes almost all markets on in-state teams like the Volunteers and Tigers.
The only restriction on college sports betting in Tennessee is a ban on in-game prop bets. All other types of bets are allowed.
Tennessee Sports Betting FAQs
Yes. The Tennessee Sports Gaming Act went into effect in July 2019, legalizing online sports betting in the Volunteer State.
Only online sports betting is allowed in Tennessee, as land-based casino gambling isn’t legal. The online-only business model makes Tennessee a unique market among US states.
21 or older. The minimum age to place an online sports bet in Tennessee is 21 across all legal online sportsbooks.
Sports Betting Online
Yes. All college sports, including in-state programs like the Tennessee Volunteers and Memphis Tigers, can legally be wagered on in Tennessee.
The only exception is in-game prop betting, which is not allowed under Tennessee law.
The Tennessee Education Lottery (TEL) regulates Tennessee’s sports betting industry. All legal online sportsbooks must be approved by the TEL.
The TEL oversees and audits all legal sportsbooks in Tennessee, ensuring transparency and accountability from all approved sportsbooks.
Yes. Most of Tennessee’s online sportsbooks offer their platforms as Apple iOS apps, as well as Android apps and desktop clients.
DraftKings, FanDuel, BetMGM, and Tennessee Action 24/7 all offer iOS apps. These apps can be found as free downloads in the App Store.
No. You just need to be located within Tennessee borders at the time of a wager for the bet to go through.
Nairabet - The Home Of Sports Betting
Visitors from other states are free to wager at Tennessee’s online sportsbooks, without any kind of residency requirement. This includes bettors from neighboring states that want to place legal online bets.
More Resources On Tennessee Sports Betting
Marshalls World Of Sport Betting
- Tennessee Education Lottery Sports Gaming – Official homepage for the sports betting arm of the Tennessee Education Lottery.
- Tennessee Education Lottery Approved Operators – List of approved licensees and registrants in Tennessee.
- Tennessee Sports Gaming Act – Official language of Tennessee’s sports betting bill.
- The Tennessean – Sports section of one of the state’s biggest news outlets.
- ESPN US Sports Betting Map – ESPN resource showing a summary of where all 50 states stand on sports betting.
Dublin, Aug. 31, 2020 (GLOBE NEWSWIRE) -- The 'Sports Betting Market - Forecasts from 2020 to 2025' report has been added to ResearchAndMarkets.com's offering.
The sports betting market was valued at US$85.047 billion in 2019.
The sports betting market is projected to witness considerable growth primarily on account of the inclination of the governments of numerous countries towards the legalization of sports betting. Furthermore, the rising penetration of various legal online platforms in some countries is also further supplementing the sports betting market growth in the near future.
The market is also poised to grow on account of the rising popularity of international sports events around the globe coupled with the increasing popularity of high-end sports such as cricket, soccer, baseball has gained a lot of traction in the past years, which has led to a decent increase in the sponsorships for clubs, teams, players.
Additionally, the rising investments by numerous sports organizations in marketing and promotional activities have led to increased investments by major betting companies in providing sponsorships for sports teams around the globe. Thus, the rising commercialization of sports events is considered to be a key factor that is expected to positively impact the market growth during the next five years.
The rising consumer expectations have led to the constant participation of key players of the market in the form of partnerships, collaborations, agreements, and R&D for the launch of various platforms to cater to the rising consumer expectations. For instance, recently in June 2020, Sportech PLC a leading market player in the gaming technology industry of the world announced its strategic partnership with a French gaming operator ZeTurf, the aim of this partnership was to deliver attractive and alternative options for betting on French racing.
Similarly, in May 2020, the company announced a successful launch of Tote Betting services in Moscow for client Pari Engineering Rus. Furthermore, the growing partnerships between high end-resorts and casinos with leading market players for availing their services also shows the potential for the market to grow in the near future.
For example, in February 2020, William Hill, a leading sports betting company entered into a long-term partnership agreement with the Grand Traverse Band of Ottawa and Chippewa Indians (GTB), a federally recognized Indian tribe for exclusively providing online sports betting and online casino gaming throughout Michigan. Also, during the same month, the company also entered into a partnership with CBS Sports with an aim to increase the reach to millions of new sports fans and fantasy players by extending its leadership in sports betting content.
Moreover, in February 2019, Churchill Downs Incorporated entered into a partnership agreement with Golden Nugget Casino for the launch of its BetaAmerica online real-money sports betting and online casino platform in New Jersey.
However, the sports betting market may be restrained by the fact that still sports betting is considered to be an illegal activity in some parts of the world. Also, the recent outbreak of the novel coronavirus is expected to be a major factor inhibiting the market growth during the short run as the intense outbreak has led to enforcement of directives by the WHO such as social distancing and quarantine measure in almost every country of the world.
This has led to the temporary suspension or cancellation of all the major sports events at international, regional, and national levels that include, football, hockey, marathons, cricket, basketball, and more. This is considered to be one of the prime factors that is projected to hamper the market growth for the next ten to eleven months.
Growing legalization is offering lucrative opportunities
One of the major factors that is propelling the market growth opportunities is the rising government initiatives for the legalization of sports betting with an aim for the generation of revenue. For instance, in 2018 sports betting for the first time was legalized in New Jersey. Furthermore, the inclination of governments of various developing countries such as India and Brazil among others to tap the potential of revenue that the sports betting industry holds is considered to be a prime opportunity for the market to grow in the near future. For example, in 2018, the Law Commission of India stated in its report the recommendations for legalizing sports betting in the country.
The global sports betting market has been segmented on the basis of platform, sport, and geography. By platform the segmentation of the market has been done on the basis of online and offline. By sport the market has been classified into cricket, FIFA, horse racing, and others. Geographically, the segmentation of the sports betting market has been done into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
Online segment to witness a decent growth
By platform, the online segment is projected to witness a healthy growth during the next five years. The rapid internet and smartphone penetration coupled with the launch of new online betting platforms are some of the key factors bolstering the growth of this segment throughout the forecast period.
Europe to hold a notable share
Geographically, the European region is anticipated to hold a substantial share in the market throughout the forecast period primarily on account of the legalization of betting in several European countries. Also, investments by players in countries of this region for expansion of services further supplement the market growth in Europe during the next five years.
Prominent key market players in the Sports Betting market the 888 Group, Kindered Group plc, Wiliam Hill PLC, and Churchill Downs Incorporated among others. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Sports Betting market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Key Topics Covered
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Sports Betting Market Analysis, By Platform
6. Sports Betting Market Analysis, By Sport
6.4. Horse Racing
7. Sports Betting Market Analysis, By Geography
7.2. North America
7.3. South America
7.5. Middle East & Africa
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. the 888 Group
9.2. Kindred Group plc
9.3. William Hill plc
9.4. Churchill Downs Incorporated
9.5. Sportech plc
9.6. The Stars Group Inc.
9.7. Webis Holdings plc
9.8. Flutter Entertainment plc
For more information about this report visit https://www.researchandmarkets.com/r/lkiuog
The Future Of Sports Betting
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