- Tennessee will officially launch online sports betting starting Sunday, November 1.
- DraftKings, FanDuel, BetMGM, and Tennessee Action 24/7 will all launch in the Volunteer State.
- Operators will take 10% of winnings.
NASHVILLE, Tenn. – Sports bettors in Tennessee will soon be able to partake in online and mobile sports betting as the Volunteer State officially launches online sportsbooks this Sunday.
Major players in the sports betting arena such as FanDuel, DraftKings, and BetMGM will be launching their operations on Sunday as well. In addition, Tennessee’s own Tennessee Action 24/7 will be launching.
This is a major advancement in the Tennessee sports betting market. USA online sportsbooks have been waiting for well over a year to serve bettors in the Volunteer state and they will have a chance to do so during football season.
Online Sports Betting In Tennessee
Sports betting in Tennessee will now be supplying online sportsbooks to residents and tourists alike. This is expected to become an estimated $15 billion industry at peak nationally and Tennessee is getting a huge slice of the pie.
"If you're anywhere within the state lines of Tennessee, you can download our FanDuel app and use it," said Mike Raffensperger, FanDuel Chief Marketing Officer. “And judging from the success we enjoyed early in subsequent states that have launched, we think that number might actually be a little light. We are really excited to be launching in Tennessee, and so we'll be making material investments locally in the advertising marketplace, in partnerships with local teams, clubs, and associations.”
Tennessee’s online sports betting regulations are interesting, as operators collect 10% of all winnings minimum. This is not standard in other sports betting markets.
Some analysts expect this 10% surcharge will motivate sports bettors to take more long-shot wagers and more risky parlays in order to compensate for the 90% payout cap.
Local sportsbook operators have still have high hopes for the market despite this unique rule. Many believe that it will not affect the online books in a negative light as well as believe the added revenue is good for the state.
Sports betting has proven time and time again that it is a major revenue source for states. This launch of online sportsbooks in Tennessee is looking to further solidify their sports betting market as one of the leaders in the industry.
After graduating from Florida State University with a degree in creative writing, Giovanni spent his professional career writing short stories for online journals. Now at USAOnlineSportsbooks, you can find him keeping fans up to date on their favorite teams best betting odds. Giovanni still tries to incorporate his passion for storytelling through the perspective of sports betting.