Tennessee’s sports betting market is like no other in the country. Now that online sports betting is legal, you might be curious about trying it out for yourself. Use this handy guide to help get a handle on the nuts and bolts of this brand-new market.
Best Tennessee Sports Betting Apps 2020
With Tennessee an online-only sports betting market, apps are king. Even before launch a number of well-known sports betting brands set up shop in Tennessee. The following sportsbooks are currently available and taking bets:
Tennessee Sportsbook App Sign-up Promotional Offers
Online sportsbooks offer new users excellent promotions to sign up and start betting. Below are the top picks for TN sports betting bonuses currently available.
Draftkings Sportsbook TN – Draftkings offers new users a $1,000 deposit match. Claim your $1,000 deposit match now.
Tennessee Legal Sports Betting History In Brief
Tennessee legislators passed the Tennessee Sports Gaming Act in April 2019, which became law in July 2019. The law brought legal online sports betting to the Volunteer State for the first time. Since Tennessee’s only other legal form of gambling until now has been the Tennessee Education Lottery Corporation, the state created a new branch of the lottery, the Sports Wagering Advisory Council, to oversee the state’s sports betting market, including licensing and regulation.
States with land casinos are typically limited to a certain number of sports betting licenses, or “skins” that can be given out to sports betting companies in partnership agreements. This means in most markets there’s a cap on the number of sports betting operators that can be licensed. Tennessee has no such limit, so the upper bound of the market is theoretically infinite.
Today, wagers can be placed from anywhere within the state boundaries of Tennessee via internet, mobile devices, or through sports gaming systems operated by state-approved licensees.
What Sports Can You Bet On In Tennessee?
So far, the list is somewhat limited compared to other markets, but the options could be expanded over time. For now, the list of sports approved by the state for wagering is as follows:
Football: NFL, College NCAA Football
Aussie Rules Football: AFL
Auto Racing: Constructors’ Championships, Formula One, IndyCar, MOTO GP, NASCAR
Baseball: MLB and MLB Draft, NCAA, KBO League, Minor League Baseball – Triple A, Nippon Professional Baseball
Basketball: NBA and NBA Draft, NCAA, Euro League, and Euro Cup, International Basketball Federation, The Basketball Tournament: TBT, WNBA, First-Tier FIBA Leagues from Australia, Brazil, China, France, Germany (including cups), Israel, Japan, New Zealand, Spain (including cups), and Turkey.
Bowling: Pro Bowling Tour
Boxing: Association of Boxing Commissions and Combative Sports, British Boxing Board of Control, International Boxing Federation, World Boxing Association, World Boxing Council, World Boxing Organization
Where Does Tennessee Sports Betting Tax Revenue Go?
The State of Tennessee considers online sports betting a “taxable privilege” – meaning offering sports wagering in the state falls under the privilege tax. Any licensee offering sports betting in the state must pay 20% of their adjusted gross income each month. This is among the higher rates in the country. For example, Colorado sports betting imposes a 10% tax, while Oregon collects just 2.3%. On the other end of the scale are states like Rhode Island (51% tax) and Delaware (50% tax).
From the tax funds collected by the state, 80% goes to the lottery for education. Fifteen percent goes to the state’s general fund to be distributed to local municipalities on a per-capita basis. The remaining 5% goes towards funding the state’s mental health and substance abuse services.
If you or someone you know has a gambling problem and wants help, call or text the Tennessee REDLINE: 1-800-889-9789. Please Gamble Responsibly. 21+