DraftKings has been a household name for most Tennessee sports fans since it bombarded NFL broadcasts with advertisements throughout the 2014 football season. In just a few years time the company has gone from daily fantasy sports startup to a publicly traded sportsbook and casino. We are regulated by the New Jersey Division of Gaming Enforcement as an Internet gaming operator in accordance with the Casino Control Act N.J.S.A. 5:12-1 and its implementing regulations.
How to deposit and withdraw money at DraftKings Sportsbook in Tennessee. Players can deposit money in a DraftKings account through various methods including credit card, wire transfer or PlayPlus. The minimum deposit is $5. Withdrawals can be made through the original source. Promo offers at DraftKings Sportsbook in Tennessee. The first three Tennessee sportsbooks. DraftKings, FanDuel and BetMGM TN all got approval at a Tennessee Education Lottery Corporation (TEL) board of directors committee meeting held on Wednesday in Nashville. TEL oversees sports betting in the state. About Tennessee Sports Betting Tennessee legalized sports betting in May 2019. Anyone who is at least 21 years of age and is physically within the state of Tennessee can bet with DraftKings Sportsbook there. It operates under our direct mobile license with the Tennessee lottery.
BOSTON, Oct. 30, 2020 (GLOBE NEWSWIRE) -- DraftKings, Inc. [Nasdaq: DKNG] announced today it will officially be launching its top-rated mobile sportsbook app in Tennessee, on Nov. 1 ahead of Sunday’s full slate of football games. Tennessee will become the ninth state to offer DraftKings’ mobile and online sports betting product, more than any other legal sports betting operator in the United States. The DraftKings Sportsbook offers customers innovative, state-specific promotions and odds boosts, free-to-play pools, bet types and more.
“As DraftKings Sportsbook continues to expand across America, we couldn’t be more excited for the opportunity to launch our No. 1 Rated Sportsbook product in Tennessee,” said Matt Kalish, co-founder and President, DraftKings North America. “Judging by the rabid fanbases following the local pro teams and the powerhouse college sports teams, we’re certain that Tennesseans will be among of the most engaged skin-in-the-game sports fans we’ve seen. We can’t wait to serve Tennessee with the unrivaled DraftKings experience.”
Anticipation and appetite for sports betting are high in the state, which is home to three major sports leagues and a number of NCAA Division I teams. Approximately 82 percent of Tennessee residents are interested in both an online and on-location wagering option and 91 percent are specifically interested in DraftKings’ secure sportsbook product, as reported by a DraftKings-led consumer study. In addition, 42 percent of respondents reported that they were most likely to bet on the NFL, followed by college football and the NBA.
Sports fans can download DraftKings Sportsbook and daily fantasy products via iOS and Android here.
DraftKings Inc. (Nasdaq: DKNG) is a digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with products that range across daily fantasy, regulated gaming and digital media. Headquartered in Boston, and launched in 2012 by Jason Robins, Matt Kalish and Paul Liberman, DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50+ operators across more than 15 regulated U.S. and global markets, including Arkansas and Oregon in the U.S. DraftKings’ Sportsbook offers mobile and retail betting for major U.S. and international sports and operates in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania, Tennessee and West Virginia. DraftKings’ daily fantasy sports product is available in 8 countries internationally with 15 distinct sports categories. DraftKings is the official daily fantasy partner of the NFL, MLB and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB and an official betting operator of the PGA TOUR.
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside DraftKings’ control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see DraftKings’ Securities and Exchange Commission filings. DraftKings does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Tennessee sports betting apps are unique in the US in that they are online-online sportsbook apps. This means that they are not joined to any local casinos. Most Tennessee sports bettors, though, wouldn’t know the difference as the state hosts some of the top betting brands in the US.
Tennessee joined the legal US online sports betting market last November. The Volunteer State doesn’t play home to any land-based casinos, making all of Tennessee’s sportsbooks online-only platforms.
Four different mobile sportsbooks went live on the first day of legal sports betting in Tennessee. Texas holdem straight king ace two three. Several more brands expect to launch in 2021 as the Tennessee market continues to develop.
Visit: BetMGM Tennessee and get up to $500 Deposit Match Bonus
Tennessee Titans fans can find BetMGM branding featured prominently at Nissan Stadium, the home of the Titans. BetMGM competes with anything in the market in sports selection.
BetMGM welcomes new players with a risk-free bet up to $500. Other promotions include risk-free player prop bets on which player will score first in selected games.
Visit: FanDuel Tennesse and Bet $5 to Win $275 on Super Bowl 55
The launch of FanDuel Sportsbook brings America’s most popular online sports betting brand to the Tennessee market. Bettors in the Volunteer State can find just about any sport they’re looking for at FanDuel Sportsbook.
FanDuel welcomes new users with a risk-free bet up to $1,000 as a welcome bonus. Other promotions include “First Period Insurance” on NHL games.
Visit: DraftKings Tennessee and get up to $1,000 Deposit Match Bonus
DraftKings Sportsbook presents one of the top overall sports betting platforms in the US. The selection of sports and ways to bet puts the platform in an elite class among legal online sports betting sites.
The welcome bonus at DraftKings Sportsbook comes in the form of a 20% deposit match up to $1,000. A $100 referral bonus awaits for bettors who bring new players to DraftKings Sportsbook.
Tennessee Action 24/7 operates as a locally-owned and operated online sportsbook. This unique product competes with national powerhouses in Tennessee’s online sports betting market.
Tennessee Action 24/7 offers new players a 100% deposit match bonus up to $100. Other bonus offers include parlay insurance on selected games.
William Hill US applied for an operator license from the Tennessee Education Lottery. A William Hill Tennessee mobile sportsbook could go live in the Volunteer State sometime in 2021.
William Hill offers different welcome bonuses in different states, and the sportsbook’s offers for Tennessee players are yet to be determined.
|Sportsbook||Welcome Bonus||Launch Date|
|FanDuel Sportsbook||Risk-free bet up to $1,000||November 1, 2020|
|DraftKings Sportsbook||20% deposit match up to $1,000||November 1, 2020|
|BetMGM||Risk-free bet up to $500||November 1, 2020|
|Tennessee Action Network 24/7||Risk-free bet up to $500||November 1, 2020|
Four different online sportsbooks went live on the first day of legal sports betting in Tennessee. Several more brands are on the way to bettors in the Volunteer State.
Each sportsbook offers different bonuses, available betting markets, and odds. Check Gaming Today for the latest on which sportsbooks are live and what each offers in Tennessee.
Tennessee’s mobile sportsbooks allow rapid, secure deposits using several different methods.
PayPal, ACH/eCheck, credit/debit cards, and Play+ are available as deposit methods at most of the state’s sports betting sites. Each of these methods funds your account instantly, with PayPal offering the highest acceptance rate of all of these options.
Tennessee’s mobile sports betting apps use geolocation services to determine your location. You can place wagers from anywhere in Tennessee, as long as the geolocation technology can determine you’re located within state borders at the time of a bet.
New players will need to provide proof of age and identity, as well as a valid email address, to sign up for a new account at a Tennessee sportsbook.
Once these details are verified, you’re free to make your first deposit and start wagering.
Placing a bet on a Tennessee sports betting app is pretty straight forward. Tennessee sportsbooks offer moneyline, point spread, totals, parlays, and many other kinds of bets.
Online sportsbooks allow you to choose your bet by simply clicking on the team and wager you want to make. The bet then goes to your bet slip, and from there you can click again to confirm your wager.
The arrival of legal sports betting in Tennessee brings secure, regulated wagering to the Volunteer State. Black market bookmakers and offshore gambling sites will always exist, but Tennessee bettors would be wise to stick with the legal options available in the state.
The Tennessee Education Lottery (TEL) regulates the state’s legal betting sites. The oversight of the TEL ensures transparency and accountability from the state’s online sportsbooks, mandating prompt payouts, and secure transactions from operators. Illegal bookmakers and offshore sites don’t offer that same level of security.
Bettors must pay taxes on sports betting winnings, and sportsbooks will automatically withhold federal taxes on wins of $5,000 or more.
Tennessee’s first full month of sports betting operations yielded $131.4 million in betting handle, according tofigures released by the Tennessee Education Lottery.
That handle figure came from the four sportsbooks that launched on Nov. 1. Those products included DraftKings Sportsbook, FanDuel Sportsbook, BetMGM, and Tennessee Action 24/7.
November revenue came in at $13.2 million as the sportsbooks realized a 10% hold. Gross gaming revenue is taxed at 20% in Tennessee, and November revenue yielded $2.36 million in Privilege Tax earnings for the state.
The Tennessee sports betting market presents a unique case among legal US sports betting states. Tennessee law allows for multiple sports betting operators to compete in the state.
Without any land-based casinos, Tennessee’s sports betting rules allow brands to launch online-only mobile sportsbooks in the state. Tennessee stands as the only state to operate in this fashion, as all other states allowing competition among brands also require that land-based casinos get a piece of the market.
Geographically, the closest states to Tennessee that offer legal online sports betting are West Virginia, Indiana, and Iowa. All three are more than a year ahead of Tennessee in the legal sports betting market.
Indiana brought in just under $251 million in November betting handle. The Hoosier State shares a nearly identical population with Tennessee, as both states estimate just under seven million residents as of the end of 2020.
Both Indiana and Iowa ($87.2 million November betting handle) offer multiple different online sports betting brands. Tennessee could meet or exceed the number of different options available in Indiana (10) and Iowa (7) by the end of 2021.
The Tennessee sports betting market can chalk up at least one major recent successes – the recruitment of sports betting’s most viable brands to the Tennessee market.
The Nov. 1 launch date saw three of the industry’s most influential brands open for business in the Volunteer State. DraftKings, FanDuel, and BetMGM represent three of the most recognizable names in sports betting.
With all three entering the Tennessee market at the earliest possible time, the future looks bright for one of the newest sports betting markets in the US. William Hill, another huge name in sports betting, has applied for an operator license in Tennessee as well.
Tennessee laws mandate that sportsbooks produce at least 10% hold, starting in 2021. Operators that don’t hit this mark are subject to a $25,000 fine at the end of the year.
That fine might not amount to much in the multi-million dollar sports betting industry. It could, however, encourage sportsbooks to look for ways to achieve that 10% hold mark.
Setting lines that yield higher vig presents one way sportsbooks could pump up the hold margin. This approach isn’t optimal in the long term, however, as Tennessee bettors would be inclined to avoid the books utilizing such a strategy.
The path to sports betting legalization in Tennessee played out as a relatively smooth process. The measure that eventually became the Tennessee Sports Gaming Act started as House Bill 1 in late 2018.
The bill passed through the state House by a 58-37 margin, then the Tennessee Senate by a 20-12 mark. The sports betting bill went into law in May 2019 without a signature from Gov. Bill Lee.
Governor Leeobjects to any further expansion of gambling in Tennessee, which currently doesn’t host any land-based casinos. Lee only allowed the bill to go into law because of the online-only operator model.
The Tennessee Sports Gaming Act allows multiple operators to compete as online-only sportsbooks in the state. Gross gaming revenue is taxed at 20%, and sportsbooks are subject to fines if they don’t yield at least a 10% hold.
The actual launch of operations for Tennessee’s online sportsbooks didn’t quite play out as smoothly as the legislation process.
The Tennessee Education Lottery announced several different start dates for regulated sports betting. After multiple hiccups, sports betting finally went live in Tennessee on Nov. 1, 2020.
Tennessee’s NFL franchise currently enjoys one of the most successful sustained runs in team history. The Titans produced five straight winning seasons from 2016-2020.
The team formerly known as the Houston Oilers relocated to Tennessee in 1997 and rebranded as the Titans in 1999. In that first season as the newly-named Tennessee Titans, the franchise went all the way to the Super Bowl.
The Titans won the AFC South in the 2020-21 season, and appear poised for a long run as one of the AFC’s top teams. The Titans’ next playoff run will be open for betting at Tennessee sportsbooks, all the way through the Super Bowl.
The NHL introduced the Nashville Predators in 1998, and in the past two decades, the team has enjoyed status as one of Tennessee’s most popular sports teams.
The Predators consistently sell out games at Bridgestone Arena, where the team has played since its inception. Nashville didn’t qualify for the playoffs in the team’s first five seasons, but since then the team has ridden a sustained wave of regular-season success.
Nashville has qualified for the Stanley Cup Playoffs 13 times since its first postseason appearance in 2003-04. The Predators made it to the Stanley Cup Finals in 2016-17, eventually losing to the Pittsburgh Penguins 4-2 in a best-of-seven series.
The Predators’ next playoff run will be open for wagering at Tennessee’s legal online sportsbooks. That includes the next Stanley Cup run for Nashville, whenever that happens.
Like the Titans, the Grizzlies moved from another city to establish a pro sports franchise in Tennessee. The Grizzlies moved from Vancouver to Memphis in 2001.
The Grizzlies lay claim to 10 playoff appearances since moving to Memphis, including a Western Conference finals berth in 2012-2013.
An exciting new era began for the Grizzlies when the team drafted guard Ja Morant in the 2019 NBA Draft. The next playoff run could be right around the corner for Memphis. When it arrives, Tennessee bettors can find numerous ways to bet on the Grizzlies throughout the playoffs.
The University of Tennessee stands as one of college football’s most storied programs. Recent years have resulted in a drop off in status for the football program, which claims six national championships and 13 Southeastern Conference titles.
The last conference championship in football happened in 1998 for the Volunteers. Tennessee made five bowl appearances in the 2010s, with the last coming in 2019.
The Tennessee men’s basketball program emerged as a perennial contender in the SEC throughout the 2010s. The program made five March Madness appearances over the course of the decade, including three Sweet 16 berths.
The Lady Vols’ women’s basketball program stands as one of the most successful programs in the history of women’s college basketball. The Lady Vols hold eight National Championships and have appeared in all 36 annual editions of the NCAA Women’s Basketball Tournament.
The University of Memphis Tigers men’s basketball program has forged a reputation as one of the most consistent programs in the NCAA over the past four decades. The Tigers have 21 NCAA Tournament appearances in that span.
Memphis made a Final Four run in 2008, making it all the way to the championship game before losing to Kansas in overtime. The program last made it to March Madness in 2014, as recent years have seen a decline in success for the program.
The Memphis football program won the American Athletic Conference title in 2019, finishing 12-1. The team boasts bowl appearances in each of the last seven seasons.
Both NCAA football and basketball are open for betting at Tennessee sportsbooks. This includes almost all markets on in-state teams like the Volunteers and Tigers.
The only restriction on college sports betting in Tennessee is a ban on in-game prop bets. All other types of bets are allowed.
Yes. The Tennessee Sports Gaming Act went into effect in July 2019, legalizing online sports betting in the Volunteer State.
Only online sports betting is allowed in Tennessee, as land-based casino gambling isn’t legal. The online-only business model makes Tennessee a unique market among US states.
21 or older. The minimum age to place an online sports bet in Tennessee is 21 across all legal online sportsbooks.
Yes. All college sports, including in-state programs like the Tennessee Volunteers and Memphis Tigers, can legally be wagered on in Tennessee.
The only exception is in-game prop betting, which is not allowed under Tennessee law.
The Tennessee Education Lottery (TEL) regulates Tennessee’s sports betting industry. All legal online sportsbooks must be approved by the TEL.
The TEL oversees and audits all legal sportsbooks in Tennessee, ensuring transparency and accountability from all approved sportsbooks.
Yes. Most of Tennessee’s online sportsbooks offer their platforms as Apple iOS apps, as well as Android apps and desktop clients.
DraftKings, FanDuel, BetMGM, and Tennessee Action 24/7 all offer iOS apps. These apps can be found as free downloads in the App Store.
No. You just need to be located within Tennessee borders at the time of a wager for the bet to go through.
Visitors from other states are free to wager at Tennessee’s online sportsbooks, without any kind of residency requirement. This includes bettors from neighboring states that want to place legal online bets.