If you’re like most Tennessee sports fans, you’re probably wondering when and how you’re ever going to be able to bet on your favorite teams for real money. Luckily for you, as of July 1, 2019, sports gambling was legalized in the state. Unfortunately, however, there are still regulations to put in place, advisory boards to create, and a lot of administration involved before Tennessee-based online sportsbooks go live.
What Kind of Sports Can I Bet On?
Tennessee is unique in its sports betting law in that it was approved only for online sportsbooks. However, the law is less specific about which sports and leagues can be wagered. Therefore, Tennesseans should be able to place bets on their favorite NFL, NBA, MLB, and college (NCAA) teams across various online sportsbooks.
Where Can I Play?
Once the regulations have been set, websites like FanDuel and DraftKings are primed and waiting to invite residents from the state to join in their existing sportsbooks. For existing sportsbooks that welcome users from across the U.S., getting started will be much easier.
New companies that want to operate an online sportsbook in Tennessee will need to apply for a license and pay the $750,000 annual license fee. These new sportsbooks may take some time to appear, both due to the delay in setting regulations for sports bettors and the high licensing fee. Players should expect to see existing sites go live by early 2020, if not sooner.
If you’re too anxious to wait, check the sites where you want to gamble regularly to see if they’re updated and ready for players from Tennessee. You can also keep up with local news, which there is no shortage of since this is such a hot topic right now.
And, of course, stay tuned to Tennessee-Bet.com to stay up-to-date on all gaming laws and sportsbook betting regulations as they are developed and implemented.
What Can I Do in the Meantime?
Tennessee sports fans who are looking for sports betting now can check out fantasy leagues and online free-to-play sites where no real money is wagered. You can also join in office pools and other small-time gambling operations where no profit is earned by the governing body.
How to Bet On Sports in Tennessee: Popular Bets
Once online sportsbooks are live, you’ll be able to deposit money and start placing your bets. These are the most common things to know:
- Favorite or Underdog: Oddsmakers will designate a favorite for every game, which is the team expected to win. The other team is the underdog.
- Spreads: Betting on point spreads is common in football and basketball betting (NFL, NBA, and NCAA). This allows you to bet on which team will win based on a predetermined points margin set by the oddsmakers.
- Over/Under: This is the easiest bet to make in almost any sport. There will be an over/under listed with a game’s odds, which is just the total combined points of the game. Your bet is on whether the total will be over or under what is predicted.
- Moneylines: A moneyline lets you pick a winner straight up, but you also have to consider the odds because you might have to wager more than you’ll win when you factor in the rankings of your team. For example, if you’re betting for the Titans when they have a –180, you’ll win $100 by wagering $180.