Tennessee Fantasy Sports & Sportsbook Promo Codes December 2024

See below for details on how to claim your Tennessee fantasy sports and/or sports betting bonus.

1) Is Sports Betting Legal in Tennessee?

Tennessee stands out as the sole state with exclusively online sports betting, as it lacks physical casinos.

Previously, Tennessee was the only state that required operators to maintain a mandatory 10% hold, where sportsbooks had to keep 10 cents out of every dollar wagered, or else incur a penalty. However, in April 2023, a new bill was passed, which eliminated this regulation and replaced it with a 1.85% tax on handle. As a result, if a sportsbook has $10 million worth of betting activity in a month, it must pay $185,000 in taxes, irrespective of whether it incurred losses due to bettors winning.

2) What Promo Codes / Deposit Bonuses are available for me and How Can I Use Them?

BetMGM

Get Paid Back up to $1,000 if your first bet loses + One FREE Month of Stokastic+ Platinum

Caesars

Your First Bet is on Caesars up to $1,250 plus 1,000 Reward Credits and 1,000 Tier Credits.​

DraftKings

Bet $5 and Get $150 - Win or Lose!

FanDuel

Bet $5+ and Get $150 in Bonus Bets Guaranteed!

WynnBet

Bet $100 and Get $100 in Bet Credits

3) What Sportsbooks and Online Sports Betting Apps are available in Tennessee?

• Barstool
• BetMGM
• Caesars
• DraftKings
• Fanatics
• FanDuel
• Hard Rock
• SuperBook
• WynnBet

4) Where Can I Bet on Sports in Person in Tennessee?

Currently there are no in-person casinos in Tennessee, making it the only state in the U.S. with legal online sports betting but no legal in-person sports betting.

5) What are the Most Common Types of Sports Bets Can I Make in Tennessee?

Straight bet

This is the most common bet type and it is just a straight up single bet on a game. A point spread is determined by the oddsmakers with one team being favored by a certain amount of points. Let’s take a look at an example line below to give a clear indication of what a straight bet would be:

Boston Celtics -6.5 (-110), moneyline -320

at Cleveland Cavaliers +6.5 (-110), moneyline +260

O/U 206

In this example, the Celtics are favored by 6.5 points, which means that if you bet on the Cavaliers, you get a 6.5-point cushion. If the Cavaliers win or lose by fewer than seven points, you win the bet. However, if you are laying 6.5 points as the favorite, the Celtics must win by seven or more points to win the bet.

For instance, the final score is Celtics 102 and Cavaliers 98, and the Cavaliers would cover even though the Celtics won the game because the +6.5 point spread is sufficient to cover a four-point defeat.

Moneyline Bet

A moneyline bet does not involve a point spread; you are simply picking the game's winner. In the above example, the Cavaliers ML is +260, meaning that if the Cavaliers win the game outright, you win $260 for every $100 wagered. The underdog receives the plus side of the moneyline, and betting on them offers you favorable odds since they are projected to lose the game. Conversely, if you bet on the Celtics ML at -320, you have to wager $320 to win $100. As they are the favorites, betting on the moneyline rather than the point spread requires you to bet extra money to win $100.

For instance, in the above example, the Celtics ML would be the winner since they won the game outright. The spread does not matter in a moneyline wager.

Over/Under

This is a straight bet where you wager on the total combined points that both teams will score in the game. For example, an NBA game may have an over/under of 210 points, which means that the oddsmakers are projecting a total combined points of 210 between the two teams. If you think that the teams will score more than 210 points, you bet the over, and conversely, if you think that the teams will struggle to score, you can bet the under, hoping that the total points scored equals 209 points or less.

Parlay

A parlay is a bet where you combine multiple bets into one, with increased odds since you win only if all your bets win. If you do a three-team parlay, you select three different teams from three different games, and if you win all three bets, you hit your parlay for longshot odds (6-1, so $100 to win $600). Going 0/3, 1/3, or 2/3 is the same, and you lose the parlay bet. Since it is all or nothing, parlay bets are tough to hit and are more of a home run type bet than a regular straight bet, as there is a chance for a big payoff.

6) Is There Anything Else to Know About Tennessee Sports Betting?

Now that you know Tennessee sports betting is legal, online sports betting in the state requires in-person registration and you know where you can go to place bets, all that's left to do is get started! If you are looking for more information about sports betting overall, you can use the sports betting resources we provide here at Stokastic!

If you have an issue with betting or a gambling problem, please contact 1-800-GAMBLER to speak with someone right now and get help.

Tennessee Sports Betting FAQs

1. Is Sports Betting Legal in Tennessee?
2. How Can I bet in Tennessee?
3. Will Tennessee have Online Sports Betting?
4. How Do I Open an Account?
5. How Do I Deposit and Withdraw?
6. Do I have to be in Tennessee to place a bet?
7. What Games Can I bet on?
8. What Companies Will be Offering Sports Betting?
9. What Kind of Taxes Do I have to Pay?
10. How Old Do I have to Be to Bet in Tennessee?
11. What are the Betting Limits?
12. Where Do I go if I have a problem?

If you have an issue with betting or a gambling problem, please contact 1-800-GAMBLER to speak with someone right now and get help.

Read further for commonly and frequently asked questions regarding sports betting and fantasy sports in Tennessee.