Sports Betting in Tennessee
Sports Betting
Unlike Arkansas, sports betting in Tennessee is only available online. While the state has no brick and mortar sportsbooks, sports betting apps are available for both iOS and Android devices. These apps use geofencing technology to verify the location of users. When a user enters their location and clicks “submit,” they are directed to a sports betting site. This system also prevents spoofing, which can lead to bets being denied.
When registering at a sports betting site, users will be asked to provide their personal information and an email address. They will also be asked for their driver’s license or passport number. The last four digits of their Social Security number are required as well. If they are not a resident of the state, they must provide a passport or driver’s license. They must also be at least 21 years old. They can only wager on sporting events that take place in Tennessee.
The sports betting market in Tennessee is expected to grow in the coming years. In fact, the state has produced more money from sports betting revenue than any other state. There are currently nine online operators, including Action 24/7, BetMGM, FanDuel, TwinSpires, Barstool Sportsbook, Sportsbetting.ag, and Wagr. These operators are all regulated by the Tennessee Lottery and fall under the United States legal jurisdiction.
Sports Betting in Tennessee
Tennessee sports betting rules have not been without their share of controversy. A mandatory 10% hold on all wagers, a hefty 20% tax rate, and an 85 percent payout cap have all created some concerns among Tennessee bettors. Those concerns are being addressed as more operators apply for licenses. The new set of permanent rules will go into effect later this year.
The most expensive type of bet in Tennessee is the prop bet. These are generally available for professional sports such as football and basketball, but are not allowed for college sports. Examples of prop bets include which team will win a particular game or which player will score the first touchdown in a football game. While not a legally allowed bet, these are still extremely popular bets.
The most interesting sports bet in Tennessee is the futures bet, which consists of betting on which team will win a specific event in the future. These bets typically have a higher vig than straight bets. Considering the state is a digital market, this bet might be more lucrative for bettors.
There are three types of sports bets available in Tennessee. They are team props, player props, and futures bets. The team props include which team will win a particular team, which player will score the first touchdown in he or she’s football game, and which team will have the most 3-pointers in a particular basketball game.
The most important bet in Tennessee is a parlay. These bets are a great way to combine two or more teams into one bet. While there are many parlays to choose from, the Tennessee sports betting rules limit a bettor to one per team.