On 1st July 2019, betting on sports was declared legal by the Tennessee legislation. Sports betting in the state is considered legal if bets are placed with licensed operators such as DraftKings Tennessee, BetMGM Tennessee, FanDuel Tennessee, and Caesars Tennessee.
If anyone places a bet with any operator not mentioned above, it will be considered illegal. There are currently 12 licensed sports betting operators in Tennessee, with a high possibility of a few more being added.
Also Read: How Sports Betting Works? Explained
How has 2023 been for sports betting in Tennessee?
In 2023, sports betting in Tennessee faced a few bumps despite its smooth track record. In April, the sports betting handle reached over $318.4 Million Dollar showing an 18.8% decrease monthly but an 8.7% increase yearly.
However, the revenue for the month was $32 Million, which was $13 Million lesser than the previous months. On 26th May 2023, Governor Bill Lee signed a new bill that forces Tennessee-based sportsbooks to be taxed on the money that bettors wager as opposed to the revenue they generate.
On 1st June, ZenSports announced that it had received an official betting license to carry out operations in the state, making it the 12th live sports betting app available in Tennessee. A few days later, the Tennessee sports handle hit $279.8 Million, a 12% drop from April.
The 2023 NHL draft, which was held in Nashville, was a heavily bet-on event. Residents of Tennessee missed their chance to place bets on Connor Bedard, the favorite to be the first overall pick in the draft. On 29th June 2023, Tennessee Titans offensive linesman Nicholas Petit-Frere was suspended for the first six regular games of the season for betting on non-NFL sports from the team’s facility.
What do we know about Sports Betting in Tennessee?
The legalization of sports betting happened in 2019, but the first online sportsbook was launched only a year later, in 2020. The state only permits online betting as there are no land-based sportsbooks available in Tennessee. The legal age for betting in Tennessee is 21.
Betting on pro sports as well as college sports is allowed in Tennessee.
Best sportsbooks in Tennessee
FanDuel: If one is looking to bet on the Tennessee Titans or the University of Tennessee Volunteers, then one must use FanDuel for a smooth, safe, and hassle-free experience.
BetMGM: Often seen as the best sportsbook for the overall experience due to its extensive features. It has all of the top events and leagues as well as sports that are not heavily followed, such as darts, snooker, rugby, etc.
Caesars: A bettor often hopes that the odds offered by a sportsbook remain consistent within the range of the market. Caesars offers exactly that, and it ranks highly for bet presentation, too, which can play a vital role when bettors choose where to place their bets.
FanDuel: A sports betting site should be simple and shouldn’t really have a lot of twists and turns to just perform a simple function. While all other sportsbooks are able to keep their experience simple, FanDuel does it best.
