Legal sports betting in Tennessee went live in November of 2020. Since that state does not have any land-based casinos, race tracks of other gaming venues, the only form of legal sports betting is online through mobile sportsbook operators.
Right from the start, major US-based sportsbooks such as FanDuel, DraftKings and BetMGM were available in the Volunteer State. At the present time, in-state bettors also have access to Caesars Sportsbook, Barstool Sportsbook and WynnBET.
Tennessee even has its own home-grown sports betting operator with Action247. This online book was one of the first to launch a mobile betting app and it remains exclusive to in-state Tennessee sports betting fans.
Expanding the Tennessee Market
Tennessee is not one of the biggest legal sports betting markets in the US but it does quite well in relation to its population. Earlier in March, the Tennessee Sports Wagering Advisory Council (SWAC) decided to expand the marketplace with three additional sports betting operators.
Bally Bet
Bally Bet is the first name on the list. As part of Bally’s Corporation, the company already had an existing business relationship in place with the NHL’s Nashville Predators. Back in October of 2021, Bally Bet became an official sports betting partner of the team.
Upon receiving formal approval to launch in Tennessee, Bally Bet is expected to go live by the end of 2022 or early 2023. The company’s current footprint for the Bally Bet mobile sportsbook app includes Arizona, Colorado, Indiana, Illinois and Virginia.
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SuperBook
SuperBook entered Colorado as its first legal sports betting market in the US outside of Nevada. As part of this company’s further expansion plans, it decided to launch its sports betting platform in Tennessee.
The origins of SuperBook can be traced to Las Vegas. This book was first launched in 1993 and it has grown to become a major player as a land-based retail bookmaker. A few years back SuperBook starting offering a mobile betting app in Nevada. The New Jersey market is also part of its future expansion plans.
The company’s launch plans in Tennessee have targeted April as a possible time frame.
Betly
The third new sportsbook operator approved by SWAC is Betly Sportsbook and it has strong ties to Gamewise. The Gamewise sports betting platform is the product of a strategic partnership between Delaware North and Gaming1.
Earlier in March, Betly went live in Arkansas through Southland Casino Racing in West Memphis. This is the first legal mobile sportsbook operator in Arkansas as a result of state lawmakers legalizing online sports betting.
Tennessee would be a natural expansion as a neighboring state with Arkansas. Betly has not released a timeline for going live with its Tennessee online betting site.
SWAC Also Adopts Permanent Sports Betting Rules
The Tennessee Lottery Education Corporation was the original governing body overseeing legal sports betting in the state. The shift over to SWAC took place on Jan. 1 of 2022. Since that time, SWAC has been working on a set of permanent rules for the industry.
One rule that remains in effect is a 10% minimum hold for in-state sportsbook operators. This requires Tennessee books to win at least 10% from bettors based on the total betting handle.
