Tennessee Sports Betting Market Heating Up
The Tennessee sports betting market officially launched on Nov. 1, and it was a huge first weekend for the industry.
The official November numbers have not yet been announced by the Tennessee Education Lottery, but they are expected to exceed expectations.
The TN sports betting industry is fully online in the state, but that hasn’t stopped bettors from placing a large number of bets. There are currently just four sports betting operators in the state, but three of the biggest names in the industry have launched.
This has created a very competitive market in Tennessee, which means several great bonuses and promotions available to sports bettors. Here are the three biggest operators in Tennessee and the bonuses they are currently featuring in the state.
BetMGM is the official sports betting partner of the Tennessee Titans, which helps it attract new customers, especially during the NFL season. Outside of this partnership, BetMGM also has a nice welcome bonus for new customers.
BetMGM is offering new customers a risk-free bet up to $500, and a refund is paid out in increments of $5, $10, and $50. The refund also comes in the form of free bets as opposed to site credit like some other operators offer.
DraftKings Sportsbook is one of the biggest operators in the entire sports betting industry, and it has already become a leader in Tennessee. DraftKings was pre-registering customers in the state prior to launch, and it was available on the very first day.
The welcome offer from DraftKings is massive, giving customers a chance to earn up to $1,000 in bonus money. The offer is split up into a risk-free bet up to $500 and a 20 percent first deposit match up to $500.
FanDuel Sportsbook is another company that started out in the daily fantasy sports industry but has had a smooth transition into sports betting, making several partnerships along the way. FanDuel also has an impressive welcome offer in Tennessee, but its offer is a little bit different.
FanDuel offers a welcome bonus of up to $1,000, but it comes in the form of a risk-free bet. There is no deposit bonus that is offered by this operator, but new customers can still get rewarded in a big way.
The first bet at FanDuel Sportsbook is completely risk-free, and site credit will be awarded if the first bet is not a winner at this site.
Other Operators Coming
The Tennessee Education Lottery has acknowledged that they have received applications from other operators looking to offer sports betting in the state. It is unclear when these operators are set to launch, but it should be at some point in early 2021.
BetAmerica, William Hill, and WynnBet are the three other operators expected to receive a temporary license by the end of 2020, with a permanent license coming at some point in January.
This will create even more competition in the Tennessee sports betting market, and the sports bettors will continue to reap the benefits.
Check back for more TN sports betting news and the latest sports news in The Volunteer State.
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