Sports Betting in Tennessee is only a few weeks ahead. And as the days pass by, the state’s lottery and sports wagering committee is working to accredit sports betting providers. So far, there are at least 4 sportsbook providers and 7 vendors getting ready for its November 1 launch. With football season in full swing, many bookie pay per head sportsbooks are already raking in a lot of betting action. With a November launch, there will be more than enough betting opportunities for Tennessee residents. Especially since the Super Bowl will not be until February 2021.
Sports betting in the state was legalized last 2019. The law allows for sports betting. But it is unique as only online sports betting is allowed. The year-long wait for wagers to be offered is mostly due to the state wanting to refine regulations and ensure that all providers are compliant.
Sports Betting in Tennessee
A lot of white label sports betting companies offer a very diverse and wide offering of wagering options for each sport. In any given game, there are multiple ways you can make money wagering. But becoming a bookie also gives more potential for a better profit, as you will be one calling the shots.
In the case of Tennessee, there is no restriction for who can become a licensed operator. There is a hefty $750,000 licensing fee and 20%. There is also a 15 percent hold that is the highest that the industry is seeing, as most are just at 5%. In addition, they also require the use of official data for live betting. The fees are a bit on the steeper side, especially when we compare them with other states. But this is not deterring larger sportsbooks, as Tennessee has a lot of potential once sports betting gets established in the state.