Online Sports Betting in Tennessee 2020
Tennessee is one of the states found in the southern region of the United States. As it is in most states in the US, gambling and sports betting was previously illegal. Thankfully, the HBI1 bill was passed recently by the House of Representatives to legalize online sports betting in Tennessee. This is great news for those who have been yearning for a chance to gamble online and for the sports betting industry at large.
However, one key aspect of this legalization is that gambling and sports betting will only be available through online platforms and sports betting apps in TN. Physically going to the sportsbooks stores to gamble remains illegal. And by the way, even if you wanted to gamble physically at a land-based sportsbook, they will not find any of those in Tennessee.
The Impact of Legalizing Online Sportsbooks in Tennessee
From the look of things, providers of sports betting online in TN are likely to reap big as analysts foresee that in future most of Tennessee tourists (about 3.5 million), will be sports gamblers. Evidently, this is a big number, and it is most likely to influence the growth of the Tennessee economy. It is expected that a gross tax of about 20% will be collected from products of online sportsbooks in Tennessee. The revenue collected will be channeled to various developmental projects such as education, infrastructure, and rehabilitation for those who may become gambling addicts.
Like Online Sports Betting in New Jersey, residents of Tennessee will be able to place bets from anywhere within the state thanks to products like mobile applications. Locals will have access to Tennessee sports betting apps and online platforms which will only allow both residents and non-residents to play within the borders of the state. The bill stipulates that the legal minimum age requirement for those who would like to take part in sports betting in Tennessee should be at least 21 years of age. As a result, operators of online sports betting Tennessee platforms will only accept bets from a player who is at least 21 years.
Online Sports Betting Apps in TN
Sportsbooks are firms that take bets for sports events from gamblers and pay out winnings. Due to the restriction on physical operation of betting firms, residents of Tennessee will only access sportsbooks through online platforms and mobile sportsbooks apps.
Since the law was just enacted, there are still no online sportsbooks that are currently operational in Tennessee. But thanks to the change, we anticipate that there are plenty of reputable operators that are planning come forward wanting to start their operations in Tennessee.
Anyone will be allowed to operate sportsbooks apps in Tennessee provided they are given approval by the state regulators. Operators will be expected to pay an application fee of $50,000 and an annual licensing fee of $750,000. They will also be required to pay a gross tax of 20% of their total earnings.
Based on the operators that are currently serving the states like New Jersey, which recently legalized online gambling, some operators who are likely to launch sports betting online in TN include:
FanDuel is an online sports betting provider that was established in 2009 and is currently being owned by Paddy Power Betfair. Being one of the giant gaming providers, that have been setting up shop in states like New Jersey, there’s a good chance that FanDuel will launch an online sports betting Tennessee platform.
As usual, players will be required to register online for an account by providing relevant personal information, and there’s a good chance that they will also be able to register directly through a mobile app. As long as you are over 21 years, you will have the opportunity to explore a massive range of both local and international markets to back your favorite teams. Users will also have access to information on sports events, which will enable them to make better judgments when placing bets.
Bet365 is one of the household names for millions of players across the globe. It has been operating in markets like the UK for over a decade now and thanks to the legalization of internet gambling across different USA states, they launched operations in the country.
If this operator is to launch its services here in Tennessee, then locals are in for a wonderful surprise. Players should expect bountiful bonuses from the word go and robust coverage of markets across sports that are popular within the USA. We hope to see the NFL, NHL, MLB, and NBA among many other enthralling leagues that will keep Tennessee gamers coming back for more.
Other than having comprehensive coverage of sports for registered members, we hope to see plenty of player-friendly features that are available for members in other markets. For instance, we’d like to see their rich live betting feature to cater to players who love to feel involved from the beginning to the end of the sport and place wagers as the game goes on.
Pointsbet is a global operator that was founded by Andrew Fahey, and currently, it boasts of being one of the fastest growing bookmakers in the business. Even though the platform isn’t as popular as the likes of FanDuel, we expect that it will hold its own against the more dominant operators by offering one of the most exceptional online sportsbooks in Tennessee.
It has some of the best fixed odds setups to offer as much advantage as possible to interested parties. And since they are huge supporters of mobile gaming, we should see a sports betting app in TN from them. Should they start offering mobile sports betting online in TN, then the native PointsBet app will be downloadable from the iTunes store for Apple users and directly from the PointsBet website for Android users.
Just like most other providers, users at PointsBet will be able to enjoy a range of products in an exceptionally intuitive interface and access a wide variety of sports. Popular American sports, like football, basketball, bases tennis, and motorsports, will be available in hundreds of events. To offer as much variety as possible, even the less popular games like soccer, rugby, and golf will be covered.
Retail Sports Betting in TN
If you know anything about gambling in Tennessee, then you must already know that there are no physical casinos in Tennessee. Players who were overcome by the desired to quench their gambling thirst had to travel to different states to take a hit at their favorite gambling games. Thanks to the change in the gambling laws, locals can now comfortably play online as soon as online sports betting Tennesse sportsbooks start operating. For online casinos in Tennessee, table games and slots enthusiasts will have to wait a little longer. Currently, only online horse race betting is legal in the state.
Online Sports Betting in Other States:
Legalizing gambling in Tennessee is a welcome move that many locals have been waiting to see for such a long time. Players will now be able to place bets online and enjoy the thrills of sports betting at the comfort of their homes or even on the move through sports betting apps in TN.
The local gaming industry is likely to boom as major players such as bet365 and DraftKings are already making plans to start operating in the state. As the hype continues, some locals feel a little cheated as the operation of physical sportsbook stalls remains illegal. This together with the harsh age restriction of a minimum age limit of 21 years can be seen as a strategic move to ensure that gambling is kept at a minimum so that undesirable outcomes such as addiction are minimized.
Even so, locals who would like to blow off steam after a long day will still have plenty of room to gamble in online sportsbooks in Tennessee as soon as they go like. Gambling in Tennessee is expected to be very radian, and we can’t wait to see how exciting things will get!