Now that online sports betting is legal in Tennessee, you might be wondering how you can take the brand-new market for a spin. You might be a seasoned sports bettor, or brand new to the action. Either way, the following 4 steps will help you get set up and placing wagers in no time.
Step 1: Choose a Tennessee Sports Betting App
Choosing a sportsbook for some is a highly personal preference, and can be based on factors like sport selection, quality of the app, or bonus offers. Make no mistake, you aren’t limited to using a single book, but it’s smart to explore what each of them have to offer before you dive in.
Tennessee so far has 4 sportsbooks to choose from:
BetMGM TN was born out of a partnership between Las Vegas mainstay MGM Resorts and GVC Holdings, operating under the Roar Digital brand. There are no land casinos in Tennessee, so there’s no local option to pop into an MGM casino in the state, however the app offers a robust selection of bets and a $500 risk-free bet (100% up to $500) on your first wager.
Special TN Launch Bonus: Bet $1, Win $100 when you make any bet on today’s Titans vs Bengals game! Paid in free bets.
DraftKings Sportsbook TN is aggressively pushing into the Tennessee sports betting market, its 9th US state where it offers mobile wagering. DraftKings is marking the occasion of the new TN market with a $1,000 deposit match (20% up to $1,000).
Special TN Launch Bonus: Double your money if the Titans scores against the Bengals. Odds boosted to +100 and max bet of $50.
FanDuel Sportsbook TN is another nationally recognized name in US online sports betting now available in Tennessee. It’s also offering a $50 sign-up bonus to TN sports bettors, as well as up to a $1,000 risk-free bet with your first deposit.
Tennessee Action 24/7 is a Nashville-headquartered sportsbook operator offering sports betting to Tennessee bettors. It stands alone as the only non-national brand in the market so far. Nothing is yet known about any sign-up bonuses or welcome offers.
Step 2: Create An Account
Before you can start betting, you’ll want to create an account with the sportsbook (or sportsbooks) of your choice. You can then download the sports betting app or navigate to the website of your choice, there will be a prominently displayed link to register for an account. From there, you’ll create a password, and enter some personal information like your name, address, phone number, and date of birth. Some sportsbooks require your full Social Security number, but most only ask for the last 4 digits.
Next you typically have to check some boxes indicating you agree to certain terms, and verifying that you are of legal gambling age. Once this is done, click to register the account and you’re well on your way. Be sure to check your inbox in case further identity verification is needed. You need to be physically within the borders of the State of Tennessee to place any bets, which will be verified by geolocation software.
Step 3: Deposit Money
The next and maybe most important step is to deposit money into your account. Most sportsbooks offer a wide variety of methods to do this, so choose the one you’re most comfortable with. If a sportsbook has a bonus offer, it will be typically need to be activated during this phase of account creation, so make sure you get what’s coming to you bonus-wise before you finalize your first deposit.
Some of the common account funding options include:
You can fund your account using your Visa or MasterCard, though some banks do not allow transactions with online gambling, including sports betting. They may also impose additional fees, depending on the terms of your cardholder agreement.
Direct Bank Transfer
This is a secure option for transferring money directly from your financial institution to a sportsbook. Sometimes a minimum limit is imposed on these transactions, so check each sportsbook’s rules for this. Deposits usually happen instantly, which is nice if you want to get into the game in a hurry. Withdrawals can take 24-48 hours to process, however, so keep that in mind.
The ubiquitous online payments platform is a popular method to transfer money to a sportsbook. However, it will need to be linked to a bank account in most cases to use it as your funding source.
You can enroll to deposit using ACH/e-checks by providing your driver’s license number and all relevant bank account details, including account number and routing number. The funds are then transferred directly from the bank to your chosen sportsbook.
Step 4: Place Your Very First Bet
Now comes the fun part. You’ve chosen an online sportsbook, funded the account, and are ready to dive in. How you take it from here all depends on you. Maybe you want to stick to your favorite teams to add a dimension of excitement when you watch them play. Maybe you’re more the go-big or go-home type, looking for a score on a long-odds parlay or underdog bet. Maybe you’re an English Premier League or European Basketball fan with in-depth knowledge of the players and teams who wants to cash in on that knowledge.
By now you’ve probably gotten a good sense of the online sportsbook app or website, and seen what they have to offer in Tennessee. But you’ll want to brush up on the variety of bets available.
The two most popular types of bets, which are available at just about every sportsbook, are moneyline and point spread bets. Moneyline bets are simply wagering on the outcome of a game. Point spread bets are similar, but a bet only wins if the winning team “covers the spread” – or wins by a certain amount.
Parlay bets are another favorite among sports bettors, offering potentially huge payouts if you’re really lucky. Parlays combine multiple wagers on a single ticket, and multiply depending how many bets you make. The catch is you must win every bet in a parlay to get paid.
Futures bets, as the name implies, are wagers on a game or event that hasn’t yet taken place. Futures bets are available right now for the Super Bowl, for example.
Prop bets can be fun because they allow you to really drill down into your sports knowledge. For example, a bet on whether a certain team will make more than 3 field goals in a game, or how many strikeouts a starting pitcher will get.
It’s an exciting time to be a Tennessee sports betting fan. The somewhat limited selection of sportsbooks and sports to bet on will no doubt expand over time as the market finds its footing. Remember: no land casinos means no limit on the number of licensed sports betting providers in the state, so the market could eventually have dozens of options.