Sports Betting Tennessee: Best TN Online Sportsbooks (November 2024)

Closer Look at the Best Online Sportsbooks in Tennessee

1. Caesars Sportsbook

Best for: Loyalty scheme

In the US, Caesars is a titan in the entertainment industry, with multiple luxury hotel and casino resorts and a world-class sportsbook. If you are searching for a premium platform with a trusted reputation, then Caesars is the perfect choice. 

This sportsbook truly excels when it comes to its loyalty scheme since it integrates other parts of the Caesar’s brand. Members of Caesars Rewards are awarded credits for their activity whether through hotel bookings, shopping, dining, and with every bet that you make. As you advance through the levels, these credits can then be exchanged for hotel discounts, free stays, room upgrades, special events, and dining vouchers.

As part of the welcome package, you will receive up to 1,000 Tier and Reward Credits for Caesars Rewards. The rest of the offer includes a second chance bet up to $1,000, which acts as a safety net for your initial wager. You can use this bonus to explore the wide range of sports and betting markets offered. 

Navigating Caesar’s site is the ideal blend of simplicity and sophistication. Thanks to an intuitive and user-friendly design, you can easily discover the various features of the platform. If you do run into any problems, you can contact helpful customer support, whether through live chat, phone, email, or social media.

Discover more in our detailed review of Caesars Sportsbook.

💰 Sign-up offer: $1,000 First Bet on Caesars OR $250 in Bonus Bets
🤩 Promo code: WSN1000.

Caesars Sportsbook Ratings

⭐ WSN Rating: 4.3/5
⭐ Apple App Store: 4.6/5
⭐ Google Play Store: 4.3/5
⭐ Trustpilot: N/A

Claim Your Caesars Sportsbook TN Bonus

Is Sports Betting Legal in Tennessee?

Yes, sports betting is legal in Tennessee as of Nov. 1, 2019, when online sportsbooks were launched. Governor Bill Lee signed House Bill 0001 (Tennessee Sports Gaming Act) into law in May 2019. Previously, sports betting regulation was overseen by the Tennessee Education Lottery Board, but it is now under the authority of the Tennessee Sports Wagering Advisory Council.

Tennessee is one of two states that have legalized online sports betting, but does not allow for in-person gambling. There are no retail or land-based sportsbooks in the state. Currently, there are 12 online sportsbooks, which are soon to become 13, as Bally Bet has been approved.

How to Get Started

It is quite simple to begin your betting journey in Tennessee. If you are a newcomer, here's a step-by-step guide to help you through the process. 

1. Select a licensed sportsbook. Firstly, research and choose a reputable sportsbook with a valid license from the Tennessee regulatory authority. By doing so, you ensure the protection of your financial and personal information. All sportsbooks previously mentioned in this article are registered and regulated by the Tennessee Sports Wagering Advisory Council, so they are your safest bet.

2. Register for an account. Visit your chosen platform and begin the sign-up process. You will be asked for obligatory information such as your name, email, and password.

3. Verify your identity. Some platforms require you to confirm your identity. This typically involves submitting documents like your ID or proof of address. 

4. Claim your welcome offer. Sportsbook will offer a welcome bonus to incentivize bettors to join the platform. Common offers include bonus bets, second chance, deposit match, and no-deposit bonuses. Remember to always be aware of any T&Cs before claiming your bonus. 

5. Deposit money. Find the cashier section and choose your preferred payment method. This can include credit/debit cards, bank transfers, or e-wallets. You can then enter the necessary details and the amount that you wish to deposit. The minimum amount varies depending on the platform, but $10 is the industry standard.

6. Place your first bet. Take a look at the sports markets that you wish to bet on. Then, add your bet to the bet slip and enter the stake amount. Finally, click the button to confirm your bet.

7. Withdraw your winnings. If your bets are successful, then you can withdraw your winnings. The processing time is dependent on your chosen payment method and the sportsbook itself.

Tennessee Sportsbook Promos

Sportsbooks have various incentives and bonuses to create an enjoyable and rewarding experience. Welcome bonuses tend to be the most generous, as they are designed to attract new bettors to the platform. Before claiming any bonus, it is important to thoroughly read the T&Cs to take note of any criteria that might affect your bonus down the line. 

Here are the most common kinds of welcome bonuses for sportsbooks in TN: 

Bonus Bets

A bonus bet or bonus bets is awarded to bettors after an initial deposit or wager. Simply put, it is a kind of betting voucher. It is frequently found as a welcome bonus for sportsbooks, allowing new users to experience the platform without risking a large amount of money up front.

Second Chance Bets

This kind of bet offers a safety net, as you are given a second chance to claim back a portion or all of your initial bet. Essentially, the sportsbook refunds a specified amount in bonus bets if your initial wager results in a loss.

Deposit Match Bonuses

A deposit match bonus involves the sportsbook matching a percentage of your deposit up to a certain limit. Ultimately, the more you deposit, the more you can benefit from this bonus. 

No-Deposit Bonuses

This type of bonus requires no deposit or wager; it is entirely free. All you have to do is register for the sportsbook to qualify for the bonus. It is less common than other bonuses and on the smaller side, generally ranging from $10 to $20. 

Which Sportsbook Apps Are Available in Tennessee?

Mobile sportsbooks allow users the unparalleled convenience of placing bets from anywhere and at any time. Bettors no longer have to be attached to a desktop, instead they can integrate betting into their lifestyle by using a phone or tablet on the go. All our top sportsbooks possess fantastic apps:

1. FanDuel - 4.8/5 (iOS); 4.7/5 (Android)

2. BetMGM - 4.8/5 (iOS); 4.3/5 (Android)

3. Caesars Sportsbook - 4.6/5 (iOS); 4.3/5 (Android)

What Betting Markets Are Available in Tennessee?

Bettors in Tennessee can access a broad variety of sports and markets, whether mainstream or niche. If you are a beginner, all these options might seem confusing at first, so we’re explaining , the most popular markets below: 

Moneyline

Moneyline bets involve predicting which team or individual will win a game. The payouts with moneyline bets are determined by the odds, which are set by the sportsbook. The positive odds indicate a reduced likelihood of winning, whereas the negative odds indicate the favorite. Take a look at this example from the NBA:

• Indiana Pacers (+142)

• Memphis Grizzlies (-170)

With this example, the Memphis Grizzlies are the favorite so you would have to make a bet of $170 to win $100, for a total payout of $270. On the other hand, for the Indiana Pacers, you would need to wager $100 to make a profit of $142. If they do win, your total payout would be $242. 

Point Spreads

A point spread bet consists of wagering on a team to win by a specific margin of points or avoid losing by less than that margin. The favorite team must win by more than the spread, while the underdog needs to lose by fewer points than the spread. Essentially, it creates a more balanced betting situation. Let’s take a look:

• Indiana Pacers +4.5 (-110)

• Memphis Grizzlies -4.5 (-110)

Here, to win a bet on the Indiana Pacers, they would need to win by 5 points or more. Whereas, if you bet on Memphis Grizzlies, they would have to win the game or avoid losing by 5 points. Point spread bets normally have odds of around -110 for both sides. 

Totals

A totals bet does not focus on which side wins or loses, rather on the total number of points scored in a game. It’s also known as an Over/Under bet because you are predicting whether the total combined score of both teams will be over or under a set number. It can look like this:

Indiana Pacers vs. Memphis Grizzlies

• Over 245 (-110)

• Under 245 (-110)

Futures

Future bets are long-term wagers on events that will happen far into the future, including often before the season has begun. For example, if you are confident that the Memphis Grizzlies will win the NBA championships at the start of the season, then you can place a future bet on them to win.

Prop Bets

With prop bets, you are betting on specific events within that game that do not necessarily affect the game’s outcome. This kind of bet can cover a range of scenarios such as player or team performance, statistics, or other occurrences. For example, it can be the first team to score in the game, first touchdown scorer, or the number of penalties. The performance of individual players is another popular subject of prop bets, like betting on how many yards a QB throws for in an NFL game. 

Parlays

Parlays involve combining multiple individual bets into a single wager. All individual bets must be successful to win the parlay and the odds are multiplied together. As such, you can benefit from significantly higher payouts, although there is also a greater risk. With a teaser bet, you can adjust the point spreads or totals in a parlay. However, this does mean that there is a comparably lower payout.

Live Betting

Live betting allows you to place bets on a game or event while it is happening. The odds are updated based on real-time changes in the game, whether scores, player performance, and other relevant events. Therefore, you can react to the unfolding events when deciding your bets. Many Tennessee sportsbooks will have dedicated live betting sections, with some even offering live streaming options. 

What Restrictions Apply to Betting in Tennessee?

Tennessee sports betting is subject to the following restrictions:

• Retail betting is not allowed and there are no no land-based casinos or sportsbooks.

• Online casinos have not been legalized in the state.

• It is not legal to make prop or live bets on college sports

• You cannot bet on any political or entertainment events.

• It is not allowed to make wagers on high school sports.

Betting on College Sports in Tennessee

Betting on college sports is legal in the state of Tennessee. However, it is not legal to wager on college player props.

The full list of NCAA Division 1 College Programs in the state is here:

• Austin Peay Governors 

• Belmont Bruins

• Chattanooga Mocs

• East Tennessee State Buccaneers 

• Lipscomb Bisons 

• Memphis Tigers

• Middle Tennessee Blue Raiders

• Tennessee Volunteers

• Tennessee State Tigers and Lady Tigers

• Tennessee Tech Gold Eagles

• UT Martin Skyhawks

• Vanderbilt Commodores 

Tennessee Sports Betting Facts

How Does Tennessee Online Sports Betting Compare to Other States?

Tennessee has reported a total handle of $11 billion since online sports betting was legalized, making it the 11th-highest state in terms of total handle. In terms of population, it is the 15th largest state, with 7.1 million people. 

Generally, Tennessee has a slightly lower total handle than others, considering the size of the state. It must be considered, though, that there is no retail sports betting in the state. Both Indiana and Iowa legalized sports betting in September 2019, so they are good points of comparison. Indiana has a slightly smaller population of 6.8 million and has a total handle of $13.8 billion after legalization. Iowa has almost half the population, with 3.2 million, but has a total handle of 7.3 billion.

In the first month, Tennessee generated $131 million in handle while having a high of $517 million in November 2023. Arizona has a close population size at 7.4 million and had $459 million in November, while Massachusetts has around 7 million residents, with $654 million handle in the same month.

Tennessee has quite a high tax rate of 20%, which is considerably higher than Nevada’s 6.75% and Michigan’s 8%. Although, it is significantly less than Pennsylvania’s 36% and New York’s 51%. Unlike other states, Tennessee allows for betting on college sports, DFS, and e-sports. 

Tennessee Sports Betting Updates

After the US Supreme Court overturned PASPA, Tennessee swiftly moved to legalize sports betting, although it took 2 years for the first online sportsbooks to launch. Below, we have provided a timeline of the main events throughout this process:

• July 30, 2024 - Tennessee sports betting regulators fined BetMGM, Action 24/7, and ESPN Bet for various violations.

• July 24, 2024 - Tennessee sports betting handle was $342.1 million in June, down 9.7% from May but up 48.5% year over year.

• July 22, 2024 - SuperBook Sportsbook announced it is exiting Tennessee.

• June 11, 2024 - The Tennessee Sports Wagering Council approved a $50,000 fine against Fanatics Sportsbook and a $60,000 fine against ZenSports.

• May 23, 2024 - Tennessee sports betting handle fell to $380.9 million in April, down 19.5% from March but up 19.6% year over year.

• May 8, 2024 - The Dave & Buster’s app is reportedly rolling out in-store peer-to-peer betting on some arcade games in 44 states, including Tennessee.

• April 16, 2024 - Tennessee sports betting handle rose to $473.5 million in March, up 24.5% from February.

• March 13, 2024 - Tennessee sports betting handle dropped to $380.3 million in February, down 22.9% from January but up 13.9% year-over-year.

• Feb. 26, 2024 - Tennessee sports betting handle fell to $467.4 million in January, down 5.5% from December.

• Feb. 7, 2024 - LSR projects Super Bowl betting handle in Tennessee to be around $34.4 million, potentially a top 15 state in terms of handle.