Now that sports betting in Tennessee is legal, sportsbooks are scrambling to sign up new customers. One of the best incentives to join is offering a free bet, matched bet, or sportsbook bonus.
We take a look at the best new customer free bet offers available in TN online and mobile, from the best sports betting apps & sites.
There are now several TN sportsbooks offering a free bet or bonus when you join online or mobile. The best ones are:
The Tennessee sports betting industry officially launched on Nov. 1, 2020, after it has been legal for more than a year. It took the Tennessee Education Lottery a long time to review and approve sports betting licenses, but there were four operators ready to launch on day one.
All of the sports betting in Tennessee must be done online at these operators, and that creates plenty of competition. One of the ways that these operators attempt to stand out is by offering bonuses or promotions to new customers.
There are at least four main types of bonus offers available in the state of Tennessee, and these all offer free bets of some sort. This guide will break down the free bets offered from each site and will also discuss all of the different free bet opportunities that are out there.
BetMGM is no stranger to the sports betting industry, and this operator wasted little time jumping on the opportunity to launch in Tennessee. BetMGM is a product of MGM Resorts International, which is a huge player in the gaming industry.
BetMGM is offering new customers a risk-free bet up to $500 in the state of Tennessee. This is a great offer, and taking advantage of this bonus is a great way to get things started in the industry.
This means that a customer can wager all of the money in their account with their first bet, and it will be refunded up to $500 in site credit. There really is no risk involved, and it could result in a huge payday as well.
DraftKings started out as a daily fantasy sports operator, but it has since evolved into one of the leaders in the sports betting industry. DraftKings has made a ton of progress since the US sports betting industry launched just two years ago.
DraftKings Sportsbook TN has the best welcome offer in the state as new customers are eligible for a bonus of up to $1,025. That’s right; you can earn more than $1,000 in bonus money just for giving DraftKings Sportsbook a try.
New customers will all receive a free $25 just for signing up at the site, and there is no deposit needed for that part of the welcome offer. After the initial free $25, customers are still eligible to receive two other offers worth up to $500 each.
DraftKings will match a new customer’s first deposit up to $500, and the site will also offer a $500 risk-free bet. The money can add up quickly at DraftKings Sportsbook for new customers.
FanDuel is another company that started as a daily fantasy sports operator but has emerged in the sports betting industry. FanDuel Sportsbook Tennessee is another provider with a terrific welcome bonus that new customers will want to take advantage of.
FanDuel Sportsbook does not give out any free money to new customers, but a risk-free bet is part of the welcome offer. New customers can receive a risk-free bet up to $500 at the FanDuel Sportsbook TN site.
This operator also has a number of other promotions that it runs that will give customers a chance to earn more free bets. There is a reason that FanDuel Sportsbook is a leader in the sports betting industry.
Outside of the three huge sportsbooks that launched on Nov. 1 in Tennessee, Tennessee Action 24/7 Sportsbook also launched. This is a local sportsbook that is based out of Nashville, and this is the only state that will see this operator.
Action 24/7 Sportsbook is offering new customers a 100 percent first deposit match up to $100, which is a terrific offer for a small operator. This is much smaller than some of the other welcome bonuses, but it is still extremely competitive.
Now that you know the top welcome bonuses and promotions offered by the four sportsbooks in Tennessee, it is time to explain some of these offers a little more. Even though all of these offers equal more cash in your sports betting account, they are all paid out a little bit differently.
Taking advantage of any welcome bonus is a good thing, but it’s important to know what type of bonus you are looking to receive. You don’t want to be too picky, but you need to know and understand what you are signing up for when choosing an operator.
One of the most common types of bonuses offered in the sports betting industry is what is known as a deposit bonus. This does not unlock until you make your first deposit, and operators will match your first deposit up to a specified dollar amount.
Some operators such as Action 24/7 Network will offer a 100 percent first deposit match, while other operators will only offer a percentage match. Receiving any deposit bonus is good, but some offers are better than others.
Another common type of bonus offer is what is called a risk-free bet. This has started to become the most popular bonus offer in the industry, and it is offered by the operators in Tennessee as well.
This offer applies to the first bet that you make at a sportsbook, and your bet will be refunded if you happen to lose with that first wager. Sportsbooks will set a limit when offering a risk-free bet, but customers are able to bet all the way up to that amount.
A money-back bet is similar to a risk-free bet, but there are some differences as well. With a money-back bet, you are eligible to receive some money back in site credit if a certain part of your bet loses.
For example, FanDuel offers parlay insurance, and it will refund bets if all but one of your legs hit. This is usually a much smaller dollar amount than the risk-free bet offer.
A match bet offer used to be extremely popular, but it is not a bonus offer that you will see very much anymore. With this bonus offer, sportsbooks will match your first bet in site credits whether you win or lose.
This is actually a better offer than the risk-free bet because you are eligible to receive this bonus even if you win your first wager.
All the offers are available to claim online, or using one of the TN sportsbook apps that are now legal and available in the Volunteer State.