Tennessee Sports Betting Bonus
Sports betting finally arrived in Tennessee, and several major sportsbook operators officially launched on November 1, 2020. For new players, this is a great thing – it offers them a chance to try out multiple top-rated sportsbooks with excellent bonuses before settling on their favorite app.
Each of these sportsbook operators provides one or more opening bonuses. Let’s take a look at some of the opening bonuses you’ll likely see when making an account for upcoming Tennessee online sports betting apps.
Best Online Sports Betting Bonuses In Tennessee
|Sportsbook||DraftKings TN||BetMGM TN||FanDuel TN|
|Opening Bonus||$1,000 deposit match||$500 deposit match||$1,000 risk-free bet + $25 multi-bet parlay insurance|
|Details||20% for the deposit match bonus, risk free is paid in site credit||All winnings must be played through||All winnings must be played through, $25 insurance bonus applies regardless of wagered amount|
Tennessee Online Sports Betting Bonuses
Although seven provisional licenses have been given out by the Tennessee Lottery so far, only four of these sportsbook operators have been announced: DraftKings, FanDuel, BetMGM, and Tennessee Action 24/7. The other three will likely be revealed sometime in 2021.
Three of these operators, DraftKings, FanDuel, and BetMGM, are well-known names in the industry that have a lot to offer. The fourth operator, Tennessee Action 24/7, is less known, and more details will become available whenever they launch.
There’s no denying that DraftKings has arguably the best opening bonus of any sportsbook operator, both in terms of potential maximum value and player utility. While we don’t know for sure if the opening bonus will be the same here as it is in other states, it’s likely to be very similar if not identical.
Draftkings TN Bonus Details
DraftKings has a $1,000 deposit match bonuses: 20% deposit match up to $1,000.
DraftKings provides a 20% deposit match bonus of up to $1,000. Essentially, any amount up to $1,000 will be matched at a rate of 20%. For instance, if you deposit $100, DraftKings will give you another $20 to go into your account. Theoretically, you could deposit $2,000 to get the maximum bonus of $1,000 in site credit.
In total, you could potentially get up to $1,000 in site credit if you deposit enough money into your DraftKings account. To be fair, many players won’t actually see that much site credit unless they lose their first bet. But it still has a ton of value.
Terms And Conditions
This being said, there are a few caveats. For instance, the deposit match bonus will be given for every $25 dollars wagered, you will receive $1 in free bet credit.
Site credit amounts must also be played through a few times before withdrawal.
All in all, DraftKings provides a good opening bonus.
Claim Bonus: Get your $500 deposit match at BetMGM Tennessee
BetMGM is the other major operator in Tennessee. This sportsbook offers a 100% deposit match up to $500. This is better than the DraftKings deposit match bonus, which only offers a 20% match.
For instance, if you deposit $500, BetMGM will instantly match it with another $500 in site credit. This offers tremendous value for new players who may not have a lot of start-up cash for wagers.
The catch? To get the bonus, BetMGM requires that make your first deposit of at least $25 within seven days of signing up for an account. While BetMGM doesn’t offer any other opening bonuses or a risk-free bet, it’s still a good opening offer to draw in new players and it provides plenty of easy-to-access value.
Keep in mind that you must play through any of the deposit match site credit before you can withdraw winnings from wagers made with that money.
FanDuel is right behind DraftKings in terms of opening bonus quality. Two bonuses are available: $1,000 in risk free bets and $25 worth of multi-sport parlay bet insurance.
FanDuel TN Bonus Details
The first bonus offers up to $1,000 in the form of risk-free bets. Wager up to $1000 and, if you lose, FanDuel will reimburse you the full amount in site credit. However, you’ll still need to play through the credit several times before you can withdraw your winnings from any of the subsequent wagers.
The second bonus, unique to FanDuel, is a form of multi-sport parlay bet insurance that is worth $25. It works as follows:
- Place a four-leg parlay wager (a series of individual bets under an umbrella wager)
- If you hit three of the legs but miss one of them, you’ll get $25 back in site credit. If you hit all four, you win the pot
This is a relatively unique opening bonus but it doesn’t have a ton of value since the $25 site credit is a flat amount. It doesn’t matter how much money is on the line for the parlay bet. This limits its potential value for experienced or high-stakes bettors, making it better for a new player who is learning the ropes of parlay wagers.
Still, FanDuel has a lot to offer. Both FanDuel and DraftKings are great choices for someone new to sports betting due to the cushions in the form of risk-free bets.
Tennessee Action 24/7
Tennessee Action 24/7 is a much lesser-known sportsbook operator that only recently received its license to offer sports betting. Supposedly, the operator had a little trouble getting the $5 million general commercial liability insurance and $15 million errors and omissions insurance required for licensure within Tennessee.
This sportsbook is an option to try out in addition to all the major operators above. The downside is that we’re not sure what the opening bonus will be for this sportsbook if and when it launches at the beginning of November.
Players will need to keep a sharp eye out for information about the opening bonus. It’s likely that the bonus will be some kind of risk-free bet or free betting credit, like many popular opening bonuses offered by other, competing sportsbooks.
Types of Sports Betting Bonuses In Tennessee
Most sportsbooks that are worth your time and money will offer multiple types of betting bonuses to drive player activity and entice new players. For instance, opening bonuses are special offers only available to new players. They usually come in the form of bonus site credit or gambling cash in one way or another, with a few restrictions about how the cash can be used or withdrawn.
But sportsbooks will also normally offer temporary bonuses or high-odds betting pools from time to time. These usually occur in sync with big sporting events or games to boost player activity. Other sportsbooks may offer limited-time bonuses for making certain, specific wagers or for being active on the app for a certain amount of time.
Be sure to check out whether a sportsbooks operator offers a VIP or loyalty program as well. In many cases, loyalty programs will give you additional digital points that accumulate over time. You can eventually turn those points and for prizes, site credit, and other goodies.
Deposit match bonuses are among the most common in the industry. In short, these “match” your initial deposit amount to one degree or another, giving you some extra site credit that scales up with the amount of your initial funds.
For instance, some deposit match bonuses match your deposit up to 100%. This would mean that if, for instance, you deposited $100, the operator would give you another $100 in site credit for an effective account balance of $200.
However, some operators, like DraftKings, offer a lower percentage-based bonus. Theirs is capped at 20%, so you only get 20% of your initial deposit’s value back as site credit.
A risk-free bet only kicks in if you lose a wager. These bonuses also usually have caps on value. For instance, an operator might provide you with a risk-free bet for up to $200. So if you make a wager up to this limit, you’ll get your value back if you lose. These bonuses are valuable for new players who may be a little skittish with their funds.
However, some risk-free bets have additional stipulations. They may require you to make multiple smaller bets for a total of up to $200 rather than a single wager priced at a $200 value.
A no-deposit bonus is the simplest type – it’s just free money offered by the operator for making an account. These bonuses are usually small (between $25 and $50) but they’re meant to allow players who don’t have a lot of funds to try the app out and make a few small wagers before kicking in some of their own cash.
The downside is that many of these bonuses require players to make certain types of wagers with certain values. For instance, DraftKings’ $25 of free site credit is actually partitioned in five $5 increments, rather than $25 of free cash for players to wager as they wish.
There are also rarer types of sportsbook bonuses that might crop up here and there, like BetMGM’s multi-bet parlay insurance. This bonus only applies to parlay bets and protects players for up to $25 of site credit if they get one “leg” of the parlay bet wrong.
In general, other sports betting bonuses follow the same types of restrictions and regulations as the others. Most will require players to “play through” (i.e. wager with once or twice) any site credit before they can withdraw winnings. These restrictions are in place to prevent people from taking advantage of bonuses and getting free money.
How To Claim Online Sports Betting Bonuses In Tennessee
Claiming online sportsbook bonuses is pretty quick and easy. The terms and conditions for each bonus should be spelled out clearly on an operator’s app.
In most cases:
- Players will first download the sportsbook
- Registration is done entirely online in Tennessee, so players can easily register with an operator by providing some personal information. This includes linking a bank account, credit or debit card, or another funding method to their sportsbook account
- Some sportsbook operators may require players to input a code on the main website or the app. These codes can usually be found on the main sportsbook website or even on the landing page of the mobile app itself
- After inputting the code or making an account, any automatic site credit should be applied instantaneously
- For sports betting bonuses that require a deposit or action on the player’s part, the bonuses will be applied automatically once the conditions are fulfilled
- Some sportsbooks may require players to accept the bonus via a pop-up on the app screen
Tennessee Sports Betting Bonuses FAQ
How Old Do I Need To Be To Place Sports Bets Online In Tennessee?
You’ll need to be 21 years of age or older, as this is the legal sports betting age in Tennessee.
Can I Claim A Bonus At More Than One Sportsbook In Tennessee?
Yes. There’s no limit to how many sports betting operators you can make an account with, so you can claim as many opening bonuses as you want in Tennessee.
What Are The Play Through Requirements On Legal Online Sportsbooks In Tennessee?
Play through requirements vary from operator to operator. In most cases, it means that you need to wager site credit (or winnings from site credit) at least once before making a withdrawal. The app will prevent you from making a withdrawal until these conditions are met.
What Is Bonus Abuse And How Can I Avoid It?
Bonus abuse involves deliberately taking advantage of opening bonuses for the purposes of generating too much site credit. For example, a sportsbooks operator that offers a free $50 bet for a selected market can be taken advantage of if a bonus abuser bets in a market where there’s only one clear winner. Then, they use another account on another sportsbook app and use both accounts to bet on opposite sides.
Since one side wins by default, the process repeats and the player repeatedly makes new accounts to get free betting money to make a modest profit on every wager.
To avoid bonus abuse, don’t constantly make new sportsbook accounts to receive more opening bonuses. Just use the bonuses as intended and you won’t draw the eyes of regulating authorities.
What Are The Bonuses On The DraftKings Sports Betting App In Tennessee?
The DraftKings Tennessee opening bonus totals $1,000. It’s split between a $500 risk-free bet and a $500 deposit match bonus.
What Are The Bonuses On The FanDuel Sports Betting App In Tennessee?
The FanDuel Tennessee bonus totals $1,025 as well. It comes in the form of a $1,000 risk-free bet and $25 worth of multi-bet parlay insurance.
Is There A Wagering Requirement At Tennessee’s Sports Betting Apps?
Sometimes. For instance, all Tennessee sports betting apps will require players to be within Tennessee’s borders in order to participate. Also, some wagers will have minimum amounts. These may range from as low as $1 and up to several hundred dollars.
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+