Tennessee sports betting went live Sunday as it became the 20th US state to launch NFL.
It took more than a year from legalization to launch for sports betting in Tennessee. The laws that legalized sports betting was passed in May 2019, but it took state regulators a long time to work out the kinks to prepare for launch.
[ Read Tennessee sports betting legalization news and updates ]
On launch day on Sunday four licensed online sportsbooks went live in the state. They included BetMGM, DraftKings Sportsbook, FanDuel Sportsbook and Tennessee Action 24/7. Three other sportsbook operators also applied for licenses in the state, including BetAmerica, William Hill and Wynn, but none of them were ready to go live on launch day.
There could be other sportsbook operators setting up shop in Tennessee in the future as well. Tennessee did not set a cap on the number of sports betting operators that could operate in the state. The costs to operate in Tennessee include a $750,000 annual license fee and a 20 percent tax on revenue.
Is mobile sports betting legal in Tennessee?
All sports betting in Tennessee must be made with a mobile device. There are no casinos in Tennessee and brick and mortar sportsbooks were not legalized in the legislation that brought sports betting to the state. Anyone using a betting app for a licensed Tennessee sportsbook must be physically located in Tennessee to place a bet.
You have to be physically located in Tennessee, but you do not have to be a state resident to make a bet. This could be highly beneficially to Tennessee which borders several other states where sports betting has not yet been legalized. Some of these include Alabama, Arkansas, Georgia, Kentucky, and Mississippi.
It’s no secret that Tennessee hopes to attract residents from these bordering states along with their betting dollars.