Tennessee sports betting is here! After a long wait following the legalization, mobile sports betting in Tennessee launches on November 1, 2020.
BetMGM Sportsbook DEPOSIT MATCH up to $500
FREE OFFER: You can sign up now and get an instant DEPOSIT MATCH up to $500 when Tennessee sports betting launches on Sunday morning.
- New users claim now: BetMGM
- State: Tennessee
Whether you want to deposit $25 or $500, your deposit will be matched instantly. You’re basically doubling your money.
Tennessee is what is known as a non-gaming state, meaning there are no casinos. As you can imagine, this has caused the legalization of sports betting to be a slow one. However, they are a recent adopter of sports betting, with it going live on Nov. 1, 2020. Let’s get into all the Tennessee sports betting information you need, including news on the sports betting promos, apps, TN online betting, how to bet and more!
1) Is Tennessee Sports Betting Legal?
Yes, and it is finally live on Nov. 1, 2020. Obviously, many things have been either slowed or halted as a result of the COVID-19 pandemic, with sports being included in that. However, they have finally passed everything needed to launch sports betting, becoming the 18th state to do so.
The Tennessee Education Lottery has been awarding online-only licenses, with a price tag of $750,000 a year. As of launch, there will be four sportsbooks available to users in Tennessee.
Mandatory Hold
The mandatory hold put in the rules for Tennessee sports betting has been a hot topic of discussion throughout this entire process. Initially, the rule was an 85 percent payout, or 15 percent hold. This was a mandatory hold and would have severely threatened the sports betting industry, with places like Nevada or New Jersey averaging a 5.5-7 percent hold.
The state settled on a minimum hold requirement of 10 percent. While this is still high, it won’t be as offensive as 15 would have been.
2) Is Tennessee online sports betting also legal online?
Yes! In fact, it is exclusively online. BetMGM will be the first online sportsbook in the state, with FanDuel, DraftKings and Action 247 coming soon thereafter.
3) What Promo Codes / Deposit Bonuses are available for me and How Can I Use Them?
BetMGM Sportsbook DEPOSIT MATCH up to $500
FREE OFFER: You can sign up now and get an instant DEPOSIT MATCH up to $500 when Tennessee sports betting launches on Sunday morning.
- New users claim now: BetMGM
- State: Tennessee
Whether you want to deposit $25 or $500, your deposit will be matched instantly. You’re basically doubling your money.
DraftKings Sportsbook
DraftKings is not only one of the premier companies to provide an outlet for legal Tennessee sports betting, they also offer a great DraftKings sportsbook promo code. Make sure to check out DraftKings latest offer: a Deposit Bonus up to $1,000 for new users.
If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) (IL). Gambling problem? Call 1-800-GAMBLER (NJ/WV/PA/MI), 1-800-9-WITH-IT (IN), 1-800-522-4700 (CO), 1-800-BETS OFF (IA), 1-888-532-3500 (VA) or call/text TN REDLINE 1-800-889-9789 (TN). 21+. NJ/PA/WV/IA/IN/CO/IL/TN/MI/VA only. Min. $5 deposit required. Deposit bonus requires 25x play-thru. Deposit bonus issued as site credits. Eligibility restrictions apply. See draftkings.com/sportsbook for details.
4) What Sportsbooks and Online Sports Betting Apps are available in Tennessee?
BetMGM will be the first sportsbook to launch at 8 a.m. CT on Nov. 1, 2020. FanDuel and DraftKings sportsbooks will be coming soon, as will Action 247, which is a sports betting platform expected to be exclusive to Tennessee.
5) Where Can I Bet on Sports in Person in Tennessee?
Tennessee sports betting is exclusively available online with no brick and mortar locations.
6) How Do I Make Deposits and Withdrawals for Online Sports Betting in TN?
Since Tennessee will be having multiple user-friendly, popular sportsbooks in their state, moving money in and out of your account is pretty easy, with multiple methods available:
- Debit/Credit Card
- ACH (Online Banking)
- PayPal
- Prepaid Sportsbook Cards
- PayNearMe
- Check
7) What are the Most Common Types of Sports Bets Can I Make in Tennessee?
Straight bet
This is the most common bet type and it is just a straight up single bet on a game. A point spread is determined by the oddsmakers with one team being favored by a certain amount of points. Let’s take a look at an example line below to give a clear indication of what a straight bet would be:
Boston Celtics -6.5 (-110), moneyline -320
at Cleveland Cavaliers +6.5 (-110), moneyline +260
O/U 206
The Celtics are favored by 6.5 points in this example. This means that if you bet the Cavaliers, you are getting 6.5 points, so if the Cavaliers win the game, or lose by fewer than seven points, you will win the bet because of your 6.5-point cushion. On the other side, when you are laying 6.5 points as the favorite, you would need the Celtics to win by seven or more to win the bet.
Final Score: Celtics 102 Cavaliers 98. Cavaliers would cover even though the Celtics won the game because the +6.5 point spread is enough to cover a four-point defeat.
Moneyline Bet
The moneyline is a bet where there is no spread; you are just picking the winner of the game. In the example above, the Cavaliers ML is +260, which means that for every $100 wagered, you win $260 if the Cavaliers win the game outright. They receive the plus side of the moneyline since they are the underdog and picking them rewards you with nice odds since they are projected to likely lose the game. On the flip side, if you bet the Celtics ML at -320, you have to bet $320 to win $100. They are the favorites so if you decide to bet the moneyline instead of the point spread, you are forced to bet additional money to win $100.
In the example above, the Celtics ML would be the winner as they won the game outright. The spread is irrelevant for a moneyline wager.
Over/Under
This is a straight bet wagering on how many total combined points will be scored in a game by both teams. For example, an NBA game may have an over/under of 210 points, which means that the oddsmakers are projecting a combined points total of 210 between the two teams. If you think the teams are going to score more than 210 points total, you bet the over, and conversely, if you think it’s going to be a defensive struggle, you can bet the under hoping that the total points scored equals 209 points or less.
Parlay
A parlay is a bet where you combine multiple bets into one bet and you get increased odds because you only win your parlay wager if all of your bets win. If you do a three-team parlay, you select three different teams from three different games and if you win all three of the bets you hit your parlay for longshot odds (6-1 so $100 to win $600). Going 0/3, 1/3, or 2/3 is all the same and you lose the parlay bet. It’s all or nothing which makes them tough to hit and is more of a home run type bet than a regular straight bet since there’s a chance for a big payoff.
8) Where’s a Good Place to Start Learning How to Online Sports Bet in TN?
Update coming shortly.
9) What are the Most Popular Sports Teams/Players to Bet on in Tennessee?
Tennessee is home to world-class sports teams, both professional—Tennessee Titans, Memphis Grizzlies and Nashville Predators—and college. It’s also home to high-profile athletes like Derrick Henry and Ryan Tannehill of the Titans and Grizzlies phenom Ja Morant . Sportsbooks offer a wide variety of bets including those based on team performance (e.g. to win the game/superbowl) and player performance (e.g. first to score in a game or odds to win MVP). You can start betting on your favorite team or player now!
The state is also home to multiple professional sports teams, including the Tennessee Titans, Memphis Grizzlies and Nashville Predators.
10) Is There Anything Else to Know About TN Sports Betting?
Now that you know Tennessee sports betting is legal, online sports betting in the state requires in-person registration and you know where you can go to place bets, all that’s left to do is get started! If you are looking for more information about sports betting overall, you can use the sports betting resources we provide here at Awesemo!
If you have an issue with betting or a gambling problem, please contact 1-800-GAMBLER to speak with someone right now and get help.
