Sports Betting For Tennessee Residents
There are a few options for Sports betting for Tennessee residents and they are all exclusively online. Tennessee became the first state to legalize only online and mobile sports betting in its legislation. The Volunteer State in fact has zero land-based casino operators that could host a regulated sportsbook. Both regulated online sportsbooks, as well as other legal sports betting sites, are available to Tennessee residents and they can all be accessed legally from most mobile devices. With a strong sports fan base being home to major franchises like the Tennessee Titans, Memphis Tigers, and Tennessee Vols, sports betting in Tennessee is a major draw for residents.
The Tennessee sports betting market launched in November 2020 after TN HB 1001 passed. The first month saw the highest sports betting launch in US history, all with only four active sportsbooks operating. More sportsbooks are expected to launch through 2021, and local legislators are still working on bills surrounding the regulations of Tennessee sports betting; meaning the market may see some changes.
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Legal Sports Betting Sites Accepting Tennessee Residents
When we started looking into the various gambling sites available now, we made sure that Tennessee residents were not only accepted but that they also provided players with the best features. If you decide to start playing with our gambling options, you will be able to collect impressive bonuses, hit fair odds and start playing with easy deposits.
Bovada - Betting Lines On All Vols Games
If you are a fan of the Grizzlies or the Predators, why not show your love by putting some money down on the next game? At Bovada, Tennessee players will find a massive sportsbook that has lines on all major games, leagues, and contests, as well as lines on lesser-known sports. This is a sports fans’ Shangri-La, and the site sure knows how to design a compelling sportsbook. The site is simple to use, yet incredibly deep and panoramic. You can place as many bets as you want in a given day, and you can even phone in bets or place a wager on your mobile device.
With Mobile Betting, Bovada has developed the most convenient way to wager in the world. You can now access the entire site, including deposits and payouts, from the palm of your hand. Whether you are lounging on a beach, or in line at the post office, you will never be late to put some money down on a game or contest again.
Check out their promotions, which currently include a Sports Welcome Bonus. Receive up to $250 in free play when you make your first deposit. Bovada will match it by 50% and the funds are available to use within 30 minutes. Without a promotional code required, you have no reason not to accept this free money from Bovada.
SportsBetting - NBA, NFL, MLB & NCAA Betting Lines
When you want to bet on sports online, where should you go? How about the domain that is titled just that – SportsBetting. This site is extremely well designed and organizes all of their sports, horse racing, casino, and poker, and esports sections in a precise manner. The site also boasts an excellent live betting section that can be accessed by your computer, phone, or tablet. Everything you find on their computer-based webpage you will be able to find on their mobile-optimized webpage.
Check out their useful links section in the sportsbook which will keep you ahead of the game. Not only do they provide a betting calculator, but they also provide a background of wagering styles and statistical information to keep you ready to lay your money down. They allow wagers on the major sports as well as lesser known, played, or watched sports such as snooker, darts, and auto racing.
If you have cryptocurrency, consider starting an account with SportsBetting. Their welcome bonus match of 100% will have you seeing your bankroll double in no time. You can earn up to $1,000 by making your first deposit with either Bitcoin, Bitcoin Cash, Ethereum, Litecoin, or DASH and you can even receive your winnings this way as well. Just use the code 100CRYPTO to take advantage.
BetOnline - Lifetime Deposit Bonuses!
For over two decades, BetOnline has been supplying Tennessee sports fans with unparalleled wagering action. This site functions legally out of sunny Panama City, Panama, and millions of Americans use it as their number one sports betting source. The site is beautifully laid out in a way that allows easy navigation combined with countless sports betting options. An initial perusal can easily turn in to hours of exploration when you delve into the BetOnline sportsbook, so be forewarned: this site is amazing.
Not only is the sportsbook second-to-none, but it also offers live betting. This innovative feature lets players bet on every aspect of a game as it plays out in real time. Do you think the next pitch will be a curve or a fastball? Do you think it will go low, high, or straight down the center? You can put money on all of these lines, and they update by the second. This is the most exciting way to wager on a game, and you can do it now at BetOnline.
Look into their promotions, which currently include a lifetime bonus match. With every deposit you make, you can earn up to $1,000 in free play by simply using the code LIFEBONUS. After you deposit $50 or more, you will have some more money to play within no time. Just make sure you use all of your original free play before claiming this promotion, as any outstanding free play will be removed from your account.
MyBookie - TN Sports Betting Made Easy
MyBookie is a sportsbook that is easily available to bettors in TN, and has some distinct advantages over the regulated sportsbooks in the state. The most obvious is that MyBookie does not have any hold requirements, so their odds tend to be quite a bit better than any local TN sportsbook, but they also have advantages in terms of what odds they are allowed to offer, as well as bonuses.
MyBookie, being located offshore, is not subject to TN’s regulations on sportsbooks. This means that you can place bets on collegiate props at MyBookie, while you cannot at TN’s regulated books. Additionally, you can wager on politics and entertainment betting, something that no TN books have the ability to offer. MyBookie provides better bonuses than TN books as well, making it a no-brainer choice for any bettor in TN.
XBet - Excellent Mobile TN Betting Option
XBet is a sportsbook that operates offshore, but is still accessible in Tennessee, which makes it a very useful tool for bettors looking to shop lines outside of the confines of TN’s fairly harsh sportsbook revenue requirements. Since XBet is not subject to TN’s hold percentage requirement, they are able to offer lines that are far better, since their payouts are not capped at 90% of the wager value.
XBet is easily available on mobile devices via their online sportsbook, as all you have to do in order to access them is visit their website in your mobile browser. When you do, you’ll see it in mobile format - it will look and feel like an app, but you won’t have to download anything. This makes XBet an excellent betting option for anyone who wishes to wager on sports in TN without the government telling them what they can and cant wager on.
Current Updates On Tennessee Sports Betting
April 8, 2022 - In response to the Russian invasion of Ukraine, Tennessee suspended wagering on all Russian sports.
March 20, 2022 - Tennessee reports that it brought in more than $300 million in handle in February.
March 10, 2022 - Tennessee approves three further sportsbooks to open in the state - SuperBook, BetLy and Bally Bet.
February 10, 2022 - Tennessee approves Fubo Gaming’s application to operate an online sportsbook in TN.
Jan 1, 2022 - The Tennessee Sports Wagering Advisory Council takes over as the major Tennessee sports betting regulator.
What Cities In Tennessee Have A Sportsbook?
There are no cities in Tennessee that have sportsbook for local residents. It is no secret that the state has not been the most gambling-friendly, and it will likely be slow to integrate into the mobile sports betting market. While you may not see Nashville sportsbooks, Memphis sportsbooks, or Chattanooga retail sportsbooks for quite some time, there are still other options for wagering. Online sports wagering providers are sure to enter the market as soon as the Tennessee Gaming Commission comes up with the proper regulations. But for now, the easiest way to bet on sports in Tennessee is to join a site like Bovada or BetOnline. Being that neighboring states have already legalized sports betting, you might also want to check out Tunica sportsbooks, Cherokee sportsbooks, or Metropolis sportsbooks, depending on your location in Tennessee.
Is Sports Betting Legal in Tennessee?
While land-based gambling has not been legalized or regulated, the use of internet gambling is still permitted. The state moved towards legalization, after the SCOTUS ruling of PASPA, but there are still stipulations concerning online sportsbooks that try to operate in the state. The biggest aspect that they will have to keep in mind is that they will not be able to offer prop bets for any collegiate football or basketball game in the country. The sports betting bill that passed through the legislature, like the existing gambling laws, did not mention any direct penalties for users of overseas sports betting sites. With internet gaming, using an offshore provider that is licensed by their home country will put you out of harm’s way. Have no worries when using the sites above as all of them are reputable, legal, and reliable.
Tennessee Sports Betting & Gambling Laws
The federal laws that surround sports betting are easy to comprehend. As long as the site operates outside of the USA, it can function legally and anybody can use it. All of the Tennessee sports betting sites we review exist in places like Canada, the UK, and the Republic of Panama, and are fully legal establishments that Tennessee players can use. The only online sportsbooks that accept USA players Tennessee residents can’t use are ones that operate in different states.
However, Tennessee should soon be getting their own state-commissioned online sportsbooks. This is made in part to the sports betting bill TN H 0001 which passed through both the state House and Senate and became law without the signature of the Governor. The bill does not authorize retail sports betting, only mobile sports betting platforms. This is mainly due to the fact that Tennessee does not have any casinos or traditional gaming facilities similar to casinos. Not including retail sportsbooks was a large reason why Tennessee Governor Bill Lee did not veto the measure.
Legal Gambling Age For Tennessee Residents
Tennessee residents are fully able to participate in the games online as soon as you turn 21. If you are under the age of 21 you are not able to actually start gambling on the sports safely, as you may otherwise find yourself having your money confiscated and your account banned. Some of the online offshore sites we recommend permit players as young as 18; however, we suggest staying with the state’s minimum legal gambling age.
Sporting Events To Bet On In Tennessee
Tennessee Titans Betting
Tennessee Volunteers Wagering
Bet on the Memphis Tigers
March Madness Betting In Tennessee
French Open Betting In Tennessee
Horse Racing Betting in Tennessee
Triple Crown Betting in Tennessee
Regulated Sports Betting Options In Tennessee
All of Tennessee’s state-regulated sports betting options are based online, with none opening any kind of retail locations. Currently, they can be separated into several groups. There are the currently available TN sportsbooks, and the ones that have been approved but have not launched yet.
Currently Available Regulated TN Sportsbooks:
| Tennessee Sportsbook | Launch Date |
|---|---|
| BetMGM Sportsbook | 1-Nov-20 |
| FanDuel Sportsbook | 1-Nov-20 |
| DraftKings Sportsbook | 1-Nov-20 |
| Caesars Sportsbook | 11-Mar-21 |
| WynnBET Sportsbook | 30-Apr-21 |
| Barstool Sportsbook | 8-Sep-21 |
| Tennessee Action 24/7 | 1-Nov-20 |
| Wagr Sportsbook | 20-Jan-22 |
Approved But Not Launched TN Regulated Sportsbooks:
| Tennessee Sportsbook | Status |
|---|---|
| Betly Sportsbook | Approved, but not launched |
| Fubo Sportsbook | Approved, but not launched |
| Bally Bet Sportsbook | Approved, but not launched |
| SuperBook | Approved, but not launched |
Tennessee Sports Betting Quick Facts
- Tennessee levies a 20% tax on gross gaming revenue.
- Tennessee requires that sportsbooks in TN maintain a 10% hold.
- Several sportsbooks in TN have consistently fallen below the 10% hold requirement.
- Tennessee’s legal gambling age is 21 years old.
- Tennessee’s model of online-only sports betting has now been adopted by other states.
- Tennessee restricts collegiate wagering, not allowing college prop bets.
- The Tennessee Lottery Commission manages and regulates the TN sportsbooks.
Depositing Into A Tennessee Sportsbook
When placing your bets on your online sportsbook account, the money has to find a way on your account and into your personal bank. These banking options that these online banking options give are very simple and have a smooth process for those bettors that are continuously playing and winning. Now with different online sportsbooks options, these banking options may vary and it is wise to check with your online sports betting site is a must to confirm with the sports betting site you have an account with. Aside from using cryptocurrency, you can deposit into a Tennessee online sportsbook with debit cards, bank wires, let's not forget about the person to person methods. Funding your online sportsbook account is what is going to get you to win a lot of cash. The good thing about this as well as the fact that most of the online sportsbooks will have promotions to where you can earn more money in your account depending on how much you deposit or how you do it. With most of these having quick transactions, there is no wrong banking option.
Mobile Sportsbooks in Tennessee
Despite not offering any land-based brick-and-mortar casinos or sportsbooks, Tennessee offers fully legal online and mobile options for bettors looking to bet on the NFL and any other sports. Even though online sports betting is completely legal in the state, they have not ruled out using mobile sportsbooks in Tennessee from outside sources. State Representative Rick Staples has expressed a desire to launch a mobile betting platform, run by the Tennessee Lottery, and worked on the legislation to make it happen. Tennessee residents can wager with online offshore sportsbooks, most of which offer fully compatible mobile websites with access to their full breadth of betting options even from outside Tennessee.
Live Betting In Tennessee
Residents in Tennessee can partake in the unique betting experience of live betting on the NFL. Live betting allows players to go beyond the traditional wagering that requires you to only bet on a sporting event before it begins. With live betting, players can place bets throughout the duration of the games. Tennessee Titans fans can benefit on a switch in the momentum of the game and bet on which team they think will score a touchdown next. Oddsmakers change and update the bet lines during stops in the games like ends of quarters, halftime, and timeouts. The offshore betting sites that accept Tennessee players offer the live betting feature and are available to get started betting on your favorite games now.
Land Based Gambling In Tennessee
Tennessee completely lacks any land-based gambling location. The state has remained quite firm in their opposition to gambling. Many legislators and state lawmakers believe that gambling is harmful to the community and that land-based gaming establishments do the most harm. However, that did not stop them from legalizing online sports betting in the state. That has also not stopped sports bettors in Tennessee from using offshore sites for years now. While you can’t place your wagers in person in Tennessee, you can place them wherever you are as long as you have an internet connected smartphone.
Tennessee Sports Betting Revenue
Tennessee has been an experiment in what levels of restrictions and taxes a state can apply to their sportsbooks without damaging usage. Tennessee has a 20% tax on gross sportsbook revenue and a requirement that sportsbooks reach a 10% hold percentage as well. One would think that these would negatively impact the usage of TN sportsbooks, but if anything, TN’s government isn’t getting enough of a cut considering the runaway success of the sportsbooks in their state.
| Month | Sportsbook Handle | Sportsbook Revenue | Hold % | Tennessee Revenue |
|---|---|---|---|---|
| Feb-22 | $313,298,305 | $20,945,018 | 6.69% | $4,189,004 |
| Jan-22 | $386,059,756 | $36,249,453 | 9.39% | $7,249,891 |
| Dec-21 | $341,800,000 | $24,600,000 | 7.20% | $4,920,000 |
| Nov-21 | $365,700,000 | $36,900,000 | 10.09% | $7,380,000 |
| Oct-21 | $375,300,000 | $23,300,000 | 6.21% | $4,660,000 |
| Sep-21 | $257,300,000 | $25,600,000 | 9.95% | $5,120,000 |
| Aug-21 | $144,500,000 | $13,200,000 | 9.13% | $2,640,000 |
| Jul-21 | $144,500,000 | $13,400,000 | 9.27% | $2,680,000 |
| Jun-21 | $174,500,000 | $16,100,000 | 9.23% | $3,220,000 |
| May-21 | $160,900,000 | $13,700,000 | 8.51% | $2,740,000 |
| Apr-21 | $172,400,000 | $14,400,000 | 8.35% | $2,880,000 |
| Mar-21 | $205,900,000 | $16,100,000 | 7.82% | $3,220,000 |
| Feb-21 | $176,300,000 | $13,000,000 | 7.37% | $2,600,000 |
| Jan-21 | $211,300,000 | $21,800,000 | 10.32% | $4,360,000 |
| Dec-20 | $180,900,000 | $13,900,000 | 7.68% | $2,780,000 |
| Nov-20 | $131,444,523 | $13,244,908 | 10.08% | $2,648,982 |
Tennessee’s Unique 10% Hold Regulation
Tennessee is unique among states that regulated sports betting in that it put a limit on what the sportsbooks could offer in terms of odds. They are required to report in with a monthly hold percentage above 10%, which is remarkable. This means that the sportsbooks have to operate in such a way that they bring in 10% profit margins each month. Interestingly, this only has to average out to 10% hold over the course of a year, and several sportsbooks have come in under that amount recently. It remains to be seen what will be done about those sportsbooks.
Top Teams To Bet On In Tennessee
Tennessee Titans - The Tennessee Titans roll out the top RB in the NFL, Derrick Henry, and they’re a force to be reckoned with, with a play action style offense that keys off of Henry’s ability to break big runs, and QB Ryan Tannehill’s ability to take advantage of the opportunities that creates. The Titans were the number one seed in the AFC in 2021 before losing in the second round of the playoffs.
Memphis Grizzlies - The Memphis Grizzlies have redefined themselves after bottoming out and snagging Ja Morant in the NBA Draft. Morant has been a revelation, but his teammates have been spectacular as well, with Jaren Jackson Jr. finally proving all the doubters wrong. The Grizzlies secured the second seed in the 2023 NBA playoffs.
Tennessee Sports Betting Taxes: On Players
All gambling winnings are considered taxable income for the purposes of taxation in the United States, including in Tennessee. Typically, any win payout from a TN sportsbook will have 25% of the winnings withheld, and then when you file your taxes, you’ll see if you qualify for any amount of a tax refund based on that. Sportsbooks may withhold as much as 28% if you do not provide them with your social security number. Note that offshore sportsbooks do not withhold any of the money you won, meaning you will have to report it and pay taxes on it yourself. For sports betting, the threshold for reporting income is $600 at the federal level, so if you make more than that, you should report it.
Tennessee Sports Betting Taxes: On Sportsbooks
Sportsbooks in Tennessee are taxed based on their gross revenue on a monthly basis. They are required to pay 20% of their revenue to the state. Notably, this is actually less than what an individual will be assessed in terms of the combination of federal and state taxes on their gambling winnings. Additionally, all TN sportsbooks must pay a yearly license renewal fee of $750,000, and they also had to pay that fee in order to get the license in the first place.
Where Does Tennessee’s Sports Betting Revenue Go?
The major beneficiary of Tennessee’s sports betting revenue at the state level is the Lottery For Education fund, which takes 80% of Tennessee’s sports betting revenue. This could change in the future with the Sports Wagering Advisory Committee taking sports betting out of direct Lottery control, but it seems unlikely. The Tennessee General Fund accepts 15% of monthly sports betting revenue, while the remaining five percent goes to funding problem gambling treatment programs in TN.
Bonuses From Sportsbooks In Tennessee
When looking for TN sportsbook bonuses, you have to take into account that there are both regulated and offshore sportsbooks in Tennessee. They are both easily accessible in TN, and both provide service with comparable upsides and downsides. When it comes to bonuses, however, the offshore books generally blow the regulated ones out of the water. Let’s check out some of the top sportsbook bonuses in TN.
The Best Sportsbook Bonuses In Tennessee:
| Online Sportsbook | Bonus Code | Maximum Bonus Value | Percent Bonus Value | Playthrough Requirements |
|---|---|---|---|---|
| Bovada | BVSBITCOIN50 | $500 | 50% | 5x |
| BetOnline | BOL1000 | $1,000 | 50% | 10x |
| MyBookie | MYB100 | $1,000 | 100% | 10x |
| XBet | XBET50 | $500 | 50% | 7x |
| SportsBetting | SB1000 | $1,000 | 50% | 10x |
| BetUS | JOIN200 | $2,500 | 150% Sports + 50% Casino | 15x |
Playthrough Requirements In Tennessee
Tennessee’s sportsbook bonuses, like those in other states, come with playthrough requirements. These requirements are important to understand. They are a requirement that you play through the value of the bonus a certain amount of times by wagering that amount times whatever the requirement is. These requirements are also known as rollover requirements. The higher the bonus value times the rollover requirements, the more work you have to do in order to cash out with that bonus still intact.
FAQ About Online Sports Betting In Tennessee
1) How many sportsbooks are available online?
There are literally hundreds of online sports betting sites; however, not all of them are trustworthy. Some are out there to steal your money, while others look to gain access to your personal information. Be sure to stick with the sites we recommend above as they cover all the categories you should look for when joining an online sportsbook: reliability, years of experience, well-reviewed customer service, being located offshore, and being licensed by their home country.
2) Is Bovada legal in Tennesseee?
Tennessee residents have access to Bovada, which is one of the easiest betting sites on the market. They are considered one of the most profitable options for sports betting.
3) Where can I find the various laws pertaining to the gambling in the state of Tennessee?
Gambling laws can be found all over the internet but with laws constantly changing, it is important to go directly to the source. Any information about Tennessee gambling laws can be found in Tennessee Code § 39-17-501 .
4) How many ways can I withdraw out of my gambling account?
You will generally have to withdraw from your account through the same way you deposited. Some of the options include check, bank wire, MoneyGram, Western Union, or bitcoin. If you made a deposit with a credit card, the online cashier will typically send your payout via bank wire transfer. For the fastest sportsbook payouts, use digital currencies for same-day withdrawals.
5) How do I prove my age when it comes time to cash you?
Proving your age is easy, as all you have to do is send the site a picture of your photo ID. Once they have that, they will allow you to play. When you want to cash out, they will likely ask for additional information such as a bank statement or a utility bill. Basically, they want to make sure you are who and where you claim you are.
6) What restrictions are in place when it comes to cashing out?
You will generally have limits on how much you can withdraw per transaction. Each site is different so check with their cashier page. If you can’t find what you are looking for, give the site a call and the customer service reps will be more than happy to help you.
7) What about depositing? I want to bet high limits.
Online sportsbooks cater to high roller sports bettors in many ways. The best sportsbook deposit method for high rollers is a bank wire transfer. This is currently the only method without any limit. Other recommended funding methods are Bitcoin, Ethereum, or Litecoin. You can typically deposit up to double-digit thousands in crypto at most offshore betting sites.
8) Is Tennessee attempting to legalize the industry of sports gambling?
Tennessee has made attempts to legalize the industry, but the framework of TN HB1 was the path the state took. The bill underwent several amendments to the point that it almost looked like a new bill when it passed, but it did authorize mobile and online sports betting in Tennessee.
9) Why is sports betting for Tennessee residents so controversial in the United States?
The main controversy started with the organized crime that was associated with sports betting during the late 20th century. Now, the topic remains controversial on a state-level, with lawmakers undecided if a regulated sports betting market would benefit the state of Tennessee. They chose to go the route of online sportsbooks before trying to build full-fledged retail sportsbooks.
10) Is the Unlawful Internet Gambling Enforcement Act actually doing anything to make it a crime to gamble on the Internet?
No, the UIGEA has just caused gambling deposits to be somewhat difficult. The law essentially puts restrictions on U.S. payment processors, which can then prevent your credit card sportsbook deposits from being authorized. Luckily, online bookmakers work with a variety of processors and there are other sportsbook deposit methods such as Bitcoin.