Tennessee online sports betting laws

The first bill designed to legalize sports betting in the Volunteer State, the Tennessee Sports Gaming Act, was introduced in 2018. It went through several amendments before passing through the state house and senate in 2019 .

There are no casinos in Tennessee; when the legislation was passed, Tennessee became the first state where sports betting is permitted on an online-only basis.

It was more than another year before, on November 1, 2020, the first legal online sports bet was placed and accepted in Tennessee.

Many of the state’s 6.8 million people immediately took advantage of the opportunity. The total handle for sports bets in November 2020, the first month of taking wagers, was $131.4 million; in December 2020 it was $180.9 million; and in January 2021 it was an enormous $211.3 million . In fact, the state saw its total sports wagering handle surpass $1 billion by the end of April 2021, six months after initial launch.

Because Tennessee sports betting is conducted only online, the only way to bet in the state is by registering with one of the sportsbooks licensed to take wagers.

You must be located within the state boundaries to be able to visit Tennessee betting sites. Make sure you have your geolocation tools switched on to prove your location to your chosen sportsbook.

The Tennessee Education Lottery Corporation is responsible for the licensing and regulation of online sports wagering in Tennessee. So far, seven licenses have been granted to organizations to run sportsbooks in Tennessee. These are BetMGM, DraftKings, the local Nashville company Action 24/7, William Hill, TwinSpires Sportsbook (Churchill Downs), and WynnBET. All are currently up and running, with WynnBET being the latest with an April 30, 2021 launch.

Yes, your Tennessee sports betting winnings are considered to be taxable income by the IRS.

If your wins meet a reportable threshold, you should receive a W-2G from them in plenty of time to include the figures in your federal tax return.

In common with most states where sports betting has been legalized, you need to be 21 or older to wager in Tennessee.

You can bet with a Tennessee sportsbook only if you are physically located within the borders of the state. If you’re not a resident of Tennessee, that’s OK – but it is still essential that when you place your bet you are in the state.

Professional athletes are not allowed to bet on the outcome of any events overseen by that athlete’s sport’s governing body. Nor are coaches or any other employees of professional sports teams. There are several other categories of individuals who are prohibited from placing sports wagers in Tennessee, including amateur and Olympic athletes (if the wager is based on sports or events in which the athlete participates, and which is overseen by their sport’s governing body).

Betting on college sports events is permitted – but there is a restriction that means no in-game wagers are allowed on college games.

Sportsbooks cannot offer wagers on events in which most of the participants are under 18, which rules out all high school and youth league sports- unless such an event is specifically pre-approved by the TEL as having persons under the age of 18 make up the minority of the participants.

No betting is allowed on pop culture events such as the Academy Awards. Betting is restricted to sporting events.

Betting on politics has not been authorized anywhere in the US. No licensed sportsbook will offer odds on an election at home or abroad.