Best Tennessee Sportsbooks

With PASPA being declared unconstitutional in 2018, many states decided to legalize sports betting again. Tennessee immediately jumped onto the bandwagon and legalized sports betting on 30 April 2019. This opened up the chance for many online betting sites to offer their services to Tennessee bettors, and the sports betting market boomed in the state. As can be expected, it also meant the competition between sportsbooks became quite fierce.

That’s why we decided to have a look at the various online sportsbooks in Tennessee to compile a list of the best Tennessee sportsbooks. We looked at their betting options, bonuses, payment methods, and sports leagues offered.

Online Sportsbooks in Tennessee

Tennessee follows an online-only betting system, meaning that bettors can only place sports bets online in the state. While sports betting was legalized in 2019, it took Tennessee until 1 November 2020 to settle all the regulations and legislation surrounding online sports betting. However, many sports betting mobile apps and online sportsbooks started operating in the state after that.

The Sports Wagering Committee of the TEL (Tennessee Education Lottery) issues licenses to sportsbooks annually. The sportsbooks are also then regulated by this committee. Other than that, several offshore licenses are also used by several sportsbooks, like Curacao and Panama. These offshore sportsbooks are a strong, viable option for residents in the state.

Betting Options

When we consider sportsbooks, we always look at the different available betting options. The more betting options there are, the better it is for you. bettors love to bet on many different tournaments as well, from the Super Bowl to the Kentucky Derby. That’s why bookmakers ensure that you have all the traditional bets available at a land-based bookmaker also provided at the real money sportsbook.

We’ll be looking at a few bets that we consider essential in the sports betting community.

Moneyline Betting

Moneyline bets are one of the simplistic ways to bet on a sport, as you simply bet on which team you believe will win. Moneyline bets use American plus and minus odds to indicate the favorite to win and the underdog. Favorites have minus odds, while underdogs can either have lower minus odds than the favorite or plus odds. An example would be Team A having -120 odds, with Team B having +150 odds. 

When considering moneyline odds, you have to understand what the odds mean. With minus odds, it means that’s the amount you have to bet in order to win a $100 profit. With plus odds, you have to bet $100 in order to win that amount of profit. Using our above example, this means that you need to bet $120 on the favorites to win $100 profit, or you need to bet $100 on the underdogs to win a $150 profit.

Live Betting

Live betting has become one of the favorite ways of betting. This form of betting allows Tennessee bettors to place bets on a match after the pre-match bets have already closed. It allows for a broader range of betting, and you can see in real-time how the match is progressing and possible factors that will influence your bet. That’s why we look for Tennessee sportsbooks that also offer live bets.

Point Spread

The point spread bet is arguably the most popular bet style in Tennessee, so we always look for it at online sportsbooks. Unlike a moneyline bet, this bet doesn’t solely bet on which team will win but also the margin by which they win. The odds will indicate which team is favored and by how many goals. That means that not only must that team win, but they also need to win with a certain number of goals in the lead. Using that handicap, bookmakers manage to balance uneven matches’ odds to both being around -110.

If Team A has a spread of -7.5 and Team B has a spread of +7.5, it means that for your bet on Team A to win, they need to win the game with more than 7.5 goals/points. If you bet on Team B, it simply means that they either need to win outright or they need to lose with fewer than 7.5 goals/points.

Totals Bet

A totals bet is also known as the Over/Under bet, and you simply need to bet on whether you believe the total goals/points scored in a match are over or under what the sportsbook predicts. So if a sportsbook states that the Over/Under odds for a match is 7.5, it means you need to bet whether you believe the total goals scored by both teams will be more than 7.5 or less than 7.5.

In certain sports, like football, it can even be used to bet on other aspects of the game than the goals, like how many corners, free kicks, etc., there will be in the game. It is thus another favorite we look for at the best Tennessee sportsbooks.

Futures Bet

Futures bet refers to bets bettors make on an outcome that will happen in the future. It is generally betting on a specific match or tournament’s outcome or on a player or season’s outcome. With this type of bet, you can only collect any winnings at the end of the season, even if they bet you won at the beginning of the season. As such, you need to be patient and able to invest in a bet long term. 

Prop Bets

Prop bets are bets that don’t look at the outcome of the match and who won, but rather on individual players or things that can happen in a match. It’s bets like whether a player will be able to score a certain amount of goals/points or which team will score the first goal/point and similar bets. That means whether the bet is won depends on whether the bet conditions were met in the match.

Parlay Bets

This type of bet is one of the more high-risk, high-return types of bet. That is because a parlay bet is a series of bets that you make, and each individual bet needs to result in a win for the parlay bet to be won. If even one bet loses, then you’ll forfeit the winnings for all the other bets. You can make anywhere between two and ten bets in a parlay bet, and you can even combine different types of bets. 

Tennessee Sportsbooks Promotions and Bonuses

There are many different sportsbook bonuses, from welcome to cash-out bonuses and free bets. We always look at their welcome bonuses, which usually fall into one of three categories.

The first category is the deposit match bonus. With this bonus, you receive a certain percentage of your first or first couple of deposits back as cash funds. It usually ranges between a 100% and 500% bonus and has a maximum amount that can be credited. 

The other popular welcome bonus Tennessee sportsbooks offer is free bets. Free bets, also called risk-free wagers, are when a sportsbook allows your first bet to be risk-free up to a certain amount of percentage. If you make your first bet and it results in a loss, the sportsbook will credit your bet back to you, either in full or a percentage of it. However, if your bet results in a win, the free bet won’t apply.

Another favorite is the no deposit bet. The no deposit bet is usually a set amount of bonus funds that are given when you sign up, without having to deposit anything. However, in such bonuses, the funds are usually low, between $5 and $25, and they have high restrictions. This means higher wagering requirements, a maximum winnings cap, and a shorter expiry period.

Before accepting any bet, we always look at the bonus terms, as there can be some requirements and conditions to accepting a bet. These conditions include a minimum limit, a promo code, wagering requirements, expiry period, and capped winnings. We recommend always double-checking the bonus terms before accepting any bonus.

Withdrawals and Deposits at Tennessee Online Sportsbooks

Especially in the US, it’s essential to know which payment methods are offered to you. With the Federal Wire Act stating that financial transactions related to online gambling providers are prohibited, there are many banks and card companies that restrict such transactions. 

As such, we’ve looked at the most popular payment methods offered to Tennessee players.

Credit Cards and Debit Cards

Despite being one of the most popular, this is sometimes a problematic payment method because some card companies restrict transactions with online sportsbooks. However, most Tennessee sportsbooks accept cards, so it’s up to you to ensure your card company allows the transaction. However, if they don’t, no worries, as most sportsbooks accept a multitude of other payment methods.

Prepaid Cards/Play+

This is a frequently seen payment method. It’s a prepaid card like Paysafecard or a Play+ card that’s linked to the sportsbook service provider. It allows you to make deposits at the sportsbook, but while the Play+ can be used for withdrawals, other prepaid cards often can’t.

PayPal

Arguably the most popular payment method for US players, PayPal acts as a convenient middleman between your bank and the online sportsbook. It has low to no fees and is a fast and secure payment method. As such, it’s no surprise that many players prefer it, and we are always on the lookout for sportsbooks that offer this payment method. PayPal betting sites are extremely popular.

Online Banking

Online banking is a convenient method to use and is often the default withdrawal method if your deposit method isn’t available for withdrawals. However, it is also the method that takes the most time to receive your withdrawal, taking between five and seven days in most situations.

PayNearMe

For those of you who don’t trust the online payment methods, many online sportsbooks offer PayNearMe, where a player receives a barcode from the online service provider, and they can use it to deposit cash at select stores, like a 7-eleven or CVS. Some sportsbooks even offer it as a withdrawal method, but most often, it’s used as a deposit method. There is usually a small fee attached, so you should consider this before using this method.

How To Register and Place a Bet

To bet at a Tennessee online sportsbook, you need to be at least 21 years of age and located within state borders. However, it’s pretty straightforward to sign up if you meet that requirement.

1. Registering at a Tennessee sportsbook is as easy as looking at our list of the best Tennessee sportsbooks, choosing one that looks good to you, and signing up. 
2. Generally, in the top right-hand corner of the website, there will be a “Register” or “Sign up” button, and you will need to enter your personal details. 
3. After entering all the details, your account will be created, and we recommend reading through the bonus terms of the welcome bonus. 
4. After understanding all the bonus requirements, you can go to your cashier and make a deposit, claiming your bonus during or after it. 
5. Then it’s as easy as starting to place your bets!

Tennessee Sports Leagues Available for Betting

As one of the states where sports betting has been legal for a few years now, there are several sports and leagues you can bet on, depending on the sportsbook. It includes: 

• NFL Betting Sites
• NBA Betting Sites
• MLB Betting Sites
• NHL Betting Sites
• Horse Racing Betting Sites
• UFC Betting Sites
• Soccer Betting Sites
• Boxing Betting Sites
• Tennis Betting Sites
• Cricket Betting Sites
• Golf Betting Sites
• Esports Betting Sites

There are many other sports available as well, and bettors can bet on tournaments, National and International leagues, etc. Tennessee does expressly prohibit betting on college sports and college players. However, esports has also seen a rise in the Tennessee betting market, as well as Fantasy sports.

Conclusion

It had taken 18 months for the regulations surrounding online sports betting to be ironed out after it was legalized in 2019. Still, there are now many online sportsbooks available in Tennessee, and it’s not always easy to know which to bet at. The legalization of online sports betting paved the way for other forms of online gambling, forming the basis of the state’s view on gambling. After looking at various sportsbooks and using the above criteria as guidelines, we compiled a list of the best Tennessee sportsbooks for you. 

FAQ

Is it legal to make a sports bet at land-based establishments in Tennessee?

Tennessee doesn’t allow any land-based gambling or sports betting, so you would have to bet online or use a mobile app. Luckily, the state’s bookmakers adjusted quickly, and there are several options for you to choose from. 

Is there any sport that’s illegal to bet on in Tennessee?

Betting regulations in Tennessee don’t allow any bets related to college sports or college players. It’s also not allowed to place bets on injuries players might get. Otherwise, all sports are legal to bet on.

Are there any requirements to bet in Tennessee?

The legislation states that bettors need to be at least 21 years of age and located within the state’s border in order to make a bet. bettors can also only bet online or using mobile apps. However, if you are playing in fantasy sports leagues, the minimum age is dropped to 18.