Tennessee Sports Betting
Sports betting in the state of Tennessee officially became legal on July 1, 2019, but it took the state over a year to get sportsbooks up and running. Tennessee sports betting also became legal without the support of Governor Bill Lee as he returned the bill without his signature.
Since there are no brick-and-mortar casinos in the state of Tennessee, there were not any good options for retail sportsbooks. Retail sports betting was not even included in the bills to legalize sports betting, and Tennessee became the first online-only sports betting market in the United States.
November 1, 2020, was the first day that online sportsbooks could start accepting wagers, and four sportsbooks were ready on that first day. There is a 10% minimum hold requirement in place for the sportsbooks, and that has created some issues through the first two years of this industry.
The Sports Wagering Advisory Council (SWAC) is now the governing body of sports betting after this was initially controlled by the Tennessee Education Lottery.
TOP 3 TENNESSEE SPORTSBOOKS
Active Tennessee Online Sportsbook Operators
The sports betting landscape in the state of Tennessee is a bit unique when looking at the operators that are currently accepting wagers. Most of the biggest names in the industry now live in the state, but there are also some unique options as well.
Tennessee sports bettors can wager at a local sports betting company, or they can also take advantage of peer-to-peer wagering. By the end of 2022, the list of active online operators in the state of Tennessee is expected to grow.
- Action 24/7 Sportsbook: Action 24/7 is a local sports betting company in the state of Tennessee as it is based out of Nashville. Action 24/7 was able to launch on November 1, 2020, but it has not been a sportsbook that has seen a ton of action from bettors.
- Barstool Sportsbook: Barstool Sportsbook first went live in the state of Tennessee on September 8, 2021, and it has become a popular option with sports bettors. The Barstool Sportsbook name has grown throughout the United States, and the Barstool Sports personalities play a role in helping to drive the brand.
- BetMGM Sportsbook: BetMGM Sportsbook was one of the online sportsbooks ready to launch on November 1, 2020, and this is one of the leaders in the United States. BetMGM is a proven and trusted name in this industry, and the loyalty rewards program is one of the best in the industry.
- Caesars Sportsbook: Caesars Sportsbook first went live in Tennessee on March 11, 2021, which was just before the start of March Madness that year. Caesars purchased William Hill, and that allowed it to take off and start to enter more markets throughout the United States.
- DraftKings Sportsbook: DraftKings Sportsbook was ready to launch in Tennessee on November 1, 2020, and it has been a leader in sports betting since that time. DraftKings also has a massive following in the DFS industry, and customers that want to play both can access both platforms from one single mobile betting app.
- FanDuel Sportsbook: There is a no bigger name in the U.S. online sports betting industry than FanDuel Sportsbook. FanDuel continues to be the market leader throughout the country, and it has a massive following in the state of Tennessee as well. FanDuel Sportsbook launched on November 1, 2020, and it’s known for having some great bonuses and promotions.
- Wagr Sportsbook: Wagr Sportsbook is completely different than all of the other options that you will find on this list. Wagr Sportsbook is a peer-to-peer sportsbook, which means that there are no betting odds set by Wagr, but rather peers can offer up bets that you can then accept. Wagr first launched in Tennessee on January 20, 2022.
- WynnBET Sportsbook: WynnBET first made its way into Tennessee on April 30, 2021, which means that it missed out on the NCAA Tournament betting. WynnBET is backed by Wynn Resorts, and it has started to make an aggressive move in the sports betting industry.
Tennessee Sportsbook Welcome Offer
Even though there are just eight online sportsbooks in Tennessee, this has still become a highly competitive market. Since there is so much competition between the sportsbooks, each operator has to work hard to attract customers.
You will find some big welcome bonus offers from the online sportsbooks in the state as that is one of the best ways to attract new customers. These offers can come in many different forms, but you will usually see a risk-free bet or a first deposit match offered.
A welcome offer is going to come with some specific terms and conditions, and you will have to follow those closely to ensure that you have unlocked the full offer.
- Action 24/7 Sportsbook Welcome Offer: 100% first deposit match up to $400 is available at Action 24/7 Sportsbook in Tennessee.
- Barstool Sportsbook Welcome Offer: You will find a new player bonus offered from Barstool Sportsbook, and it’s a risk-free bet that is worth up to $1,000.
- BetMGM Sportsbook Welcome Offer: BetMGM Sportsbook offers new users a $1,000 risk-free bet on the first wager that is placed at the site.
- Caesars Sportsbook Welcome Offer: $1,500 risk-free bet offered from Caesars Sportsbook for all new accounts in Tennessee.
- DraftKings Sportsbook Welcome Offer: DraftKings Sportsbook has a 20% first deposit match for all new customers, and that bonus amount is worth up to $1,000.
- FanDuel Sportsbook Welcome Offer: New customers at FanDuel Sportsbook will receive a “No Sweat First Bet” worth up to $1,000 on the first wager that is placed.
- Wagr Sportsbook Welcome Offer: Wagr Sportsbook does not currently offer a welcome bonus to new customers, and it’s unclear if one will be coming in the future.
- WynnBET Sportsbook Welcome Offer: WynnBET Sportsbook will award $100 in free bets to all new customers who place at least $100 in wagers in the first seven days at the site.
Tennessee Sportsbook Promo Codes
Not only should you be looking for the best welcome offers from online sportsbooks in Tennessee, but you also want to find the best promo codes. This site will have all of the latest promo codes from the sportsbooks in Tennessee, and these could be updated frequently depending on the operator.
A promo code is a way to unlock the best welcome offer from each online sportsbook and they usually change up monthly. It can be hard to keep track of the latest promo codes, but using this as a resource will help you stay on top of all of the latest offers.
- Action 24/7 Sportsbook Promo Code:
- Barstool Sportsbook Promo Code:
- BetMGM Sportsbook Promo Code:
- Caesars Sportsbook Promo Code:
- DraftKings Sportsbook Promo Code:
- FanDuel Sportsbook Promo Code:
- Wagr Sportsbook Promo Code:
- WynnBET Sportsbook Promo Code:
Deposit/Withdrawal Methods Available in Tennessee
Banking at online sportsbooks in Tennessee is 100% safe, and most of the time these transactions are going to happen almost immediately. This is one area where the entire online gaming industry has improved, and that should continue to be the case into the future.
There are more deposit options than withdrawal methods, but you’ll find a solid list for each option. The money should be in your account when you need it for betting, and you won’t have trouble getting your winnings paid out to you.
Deposit Options
You are going to find a long list of deposit options from the online sportsbooks in Tennessee, but this wasn’t always the case. Using a credit card used to be one of the only ways to fund a sportsbook account, but there are other options that are now preferred by sports bettors.
You can still make a deposit with a credit/debit card, but options such as PayPal and Skrill are faster and easier to use. An online bank transfer is another possible deposit option to use at online sportsbooks, but there could be a slight delay in getting the funds to your account.
Most sportsbooks are now offering a Play+ Prepaid Card, and that is another great way to fund your account. Simply load and reload your Play+ card, and then you can use those funds to send money to the online sportsbook.
All of the online sportsbooks in Tennessee are allowed to come up with their own list of deposit options, and you could see some unique options depending on where you plan on wagering.
Withdrawal Methods
One withdrawal method that won’t be available in the state of Tennessee is visiting a retail sportsbook and asking for a cash withdrawal. This is an option in other states with casinos, but not in the state of Tennessee.
PayPal is one of the top options when it comes to making a withdrawal, as the funds can be transferred in a matter of minutes. As long as you use PayPal as a form of deposit, then your account should already be linked to send money back and forth.
Other options that you could use in Tennessee include an ACH/e-check or a straight online bank transfer.
Pros & Cons of Betting Online in Tennessee
Pros
- Plenty of top sportsbooks in Tennessee
- Mobile betting is available throughout the state
- Most online sportsbooks have mobile apps for both Android and iOS devices
Cons
- No retail partners to visit in Tennessee
- 10% minimum hold rate impacts betting lines offered from sportsbooks
FAQ’s About Tennessee Sports Betting
Are there retail sportsbooks in Tennessee?
No, Tennessee is a state without any commercial casinos, and therefore there are no retail sportsbooks in the state. Tennessee has always been an online-only sport betting market, and it will likely continue to be that way into the future.
When did online sports betting in Tennessee launch?
Online sports betting in the state of Tennessee officially launched on November 1, 2020. There were four online sportsbooks that were ready to go live on the first day that this became a legal option.
Is betting on college sporting events legal in Tennessee?
Yes, the state of Tennessee does allow for betting on college sporting events, including those games that feature teams from the state. The only real restriction is a ban on in-play wagering for collegiate events.
Can you make live bets in Tennessee?
Yes, live betting is available at online sportsbooks in Tennessee, and those operators can choose what betting markets are featured as a form of live betting.
What group regulates Tennessee online sports betting?
The Sports Wagering Advisory Council regulates online betting in the state of Tennessee. This task was initially given to the Tennessee Education Lottery, but it handed over the power after there were a number of issues.