Tennessee Sports Betting FAQ 8 Key Questions, Answered added to Google Docs

Tennessee Sports Betting FAQ 8 Key Questions, Answered

Carmen Mandato/Getty Images. Pictured: Tennessee Vols

Tennessee sports betting is here. And as other states have come online over the last 28 months, we’ve found that prospective bettors have plenty of questions about how sports betting will work for them.

Tennessee has similar rules and regulations to most states with full online betting, the biggest being online betting and deposits.

Four sportsbooks are officially live Sunday:

Books will be rushing to acquire customers and give away plenty of free money to do so.

You can get $50 free at DraftKings and a $500 deposit match at BetMGM.

Here are eight frequently asked questions that might help in your sports betting journey.

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Tennessee Sports Betting FAQ 1. Is Tennessee Sports Betting Live?

Tennessee sports betting is officially live as of Sunday, Nov. 1, although it won’t officially launch at some books until the morning.

2. Can I Bet Online in Tennessee?

You sure can. Tennessee is the first state to go online-only, since it doesn’t have any casinos.

New Jersey has paved the way for what an effective legal sports betting market looks like — online registrations, easy deposits, multiple books, betting from anywhere within state borders.

3. Can I Sign Up and Deposit Online?

Yes, which is a huge differentiator. Online registrations and signups let users access as many sportsbooks as they want in just a few minutes. States like Nevada force bettors to sign up in person, even though they can bet online after that.

And betting at multiple books is the easiest way to go from a losing bettor to a break-even bettor (and hopefully beyond).

4. Will I Get Better Prices Than From a Local or Offshore Book?

That remains to be seen. Tennessee has instituted a mandatory 10% hold for books, meaning they have to earn 10 cents in revenue for every dollar wagered. Nevada and New Jersey books have typically earned in the 5-6% range, with monthly fluctuations.

That means books will be forced to pass on costs to consumers and may offer worse odds on NFL point spreads and capped payouts on parlays and futures.

5. How Do I Deposit in Tennessee?

The biggest advantage for many bettors in states with legal sports betting is the ease of depositing and withdrawing money from your account.

Gone are the days of depositing in sketchy ways, or paying cash. You can deposit in Tennessee via…

  • Credit card
  • Bank account
  • PayPal
  • MoneyGram
  • Many more…

The downside to legal betting for some is that you can’t bet on credit — any dollar you want to wager, you have to put in your account. So if you bet on a few teams to win the Super Bowl before the season, the sportsbook will hold that money all year.

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6. Do I Need to Be a Tennessee Resident to Bet?

Nope, you just need to be within the state border. So if you’re coming from Georgia, you can cross state lines, place a bet, and drive back.

Conversely, Tennessee residents who are out of the state cannot bet during that time, unless they’re in another state with legal betting.

7. How Old Do I Have to Be to Bet in Tennessee?

Twenty one years old is the minimum age.

8. What Sports Can I Bet On?

Tennessee will offer a full array of bet and sport types, and college teams won’t be limited in any way.

In New Jersey and Virginia, bettors cannot wager on college teams from their state.

via Action Network https://www.actionnetwork.com/legal-online-sports-betting/tennessee-faq

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Created November 1, 2020 at 12:24PM
/nhulan200799
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