Tennessee Sports Betting Promos and Bonuses: Best Offers for July 2024

Tennessee sports betting promos quick facts

All Tennessee sportsbook promo codes

Out of Tennessee’s 11 online sportsbooks, only BetMGM, Caesars, and SuperBook mandate the use of a promo code during the initial deposit to unlock their welcome bonus. The majority of the other online sports betting platforms in the state offer sign-up bonuses worth hundreds, if not thousands, of dollars. These welcome promotions typically fall into three categories:

• Deposit match bonus
• First bet insurance
• Bonus bets

Every bonus offered has the potential to increase the funds in your sportsbook account, but there are specific conditions that must be met before the credits can be added or before you can withdraw them. It is crucial to carefully read and understand the terms and conditions of each online sportsbook’s sign-up offer before creating a new account to avoid any unexpected surprises after placing a bet.

FanDuel TN welcome offer

FanDuel boasts top ratings on the app store in Tennessee, offering new players a generous welcome offer of $200 in bonus bets with their first winning wager of $5 or more, without the need for a promo code. Enjoy an elite user experience on their sports betting app.

1. Register and download the mobile app to make your first deposit of at least $5.
2. Place your initial $5 wager on any sports market.
3. If you win, you’ll earn $200 in bonus bets.
4. You will receive the bonus bets within 72 hours of placing your qualifying wager.
5. The bonus bets must be used within seven days, or they will expire.

What does the promo mean for you?

New Tennessee players can receive $200 in bonus bets from FanDuel by placing a $5 first wager on any market. Make sure to choose your picks wisely as your first bet must be successful in order to claim the bonus.

How much money can be earned with the promo?

The potential amount of actual money you can earn from the FanDuel promotion is influenced by various factors. For instance, betting the full reward on an underdog and winning can result in a significant payout. However, if your picks consistently lose, the bonus bets won’t yield much in terms of real cash.

Why is this bonus better than others?

Although not as substantial as Caesars’ offer, FanDuel’s bonus is still attractive for new bettors with its low $5 initial risk. However, it is important to note that the bonus is not guaranteed as you must win your qualifying bet in order to receive the bonus bets.

DraftKings TN welcome offer

DraftKings has established a strong presence in the Tennessee market since its debut in November 2020. Despite this, the company continues to pursue new players with a competitive offer. Currently, new users can receive $150 in bonus bets by simply betting $5 at DraftKings TN, with no promo code necessary.

1. You must deposit a minimum of $5 and wager at least $5 on any market.
2. Win or lose, you will receive $150 in bonus bets instantly.
3. The bonus is awarded as six (6) $25 pieces and cannot be split further.
4. You can’t withdraw bonus bets as real cash.
5. Bonus bets will expire seven days (168 hours) after being awarded, if unused.

What does the promo mean for you?

New Tennessee players will love this promo due to its affordable entry fee. With $150 in bonus funds, you can quickly boost your bankroll.

How much money can be earned with the promo?

Your future earnings will be determined by your level of success. The more of your bonus bets that are successful, the higher profits you can accumulate and withdraw.

Why is this bonus better than others?

DraftKings simplifies the process for new players to receive $150 in bonus funds with just a $5 bet, making it one of the most valuable bonuses available.

BetMGM TN welcome offer

BetMGM is making a strong push to attract new players to its Tennessee online sportsbooks and sports betting app by offering first-bet insurance through bonus bets. Use our unique BetMGM bonus code SBRBONUS when signing up to take advantage of this offer, which can protect you for up to $1,500.

1. A $10 minimum deposit is required.
2. First bet must lose for bonus bets to be released.
3. A dollar-for-dollar bonus bet insurance amount is guaranteed, up to $1,500.
4. First bet losing wagers of $49 or less will be paid out in a single bonus bet.
5. First bet losing wagers of $50-or-more will be paid out in five 20% increments.
6. A $1,500 first bet loss would earn five (5) $300 bonus bets.
7. There is a seven-day expiration on bonus bets acquired.
8. Bonus bets cannot be redeemed for cash.

What does the promo mean for you?

This guarantees that new players can bet with confidence, knowing that their initial wager is covered up to $1,500. For example, if they place a $100 bet and it doesn’t win, BetMGM will credit their account with $100 in the form of five $20 bets.

How much money can be earned with the promo?

If your initial bet after registering is a winner, you will not receive any additional funds through this promotion as bonus bets will not be given.

If you lose your initial bet, your subsequent winnings will be based on the accuracy of your bet slip. For instance, if you receive five $300 bonus bets after losing your first $1,500 bet and all five bonus bets turn out to be unsuccessful, you will not win any money. However, if you place a successful wager using any of those bonus bets, you will be able to keep all the profits going forward.

Why is this bonus better than others?

There are only a handful of operators that provide first bet insurance of $1,500 or higher, and BetMGM stands out for not requiring new players to risk all their bonus bets on a single wager.

Caesars TN welcome offer

Caesars is actively promoting their online sportsbook and betting app to attract new players in Tennessee. Their welcome offer includes a $1,000 first bet on Caesars, which requires the promo code SBRBONUS1000 at the time of deposit.

1. New users can sign up in TN using promo code SBRBONUS1000.
2. Make your initial deposit of $10 or more.
3. Place a qualifying wager within 30 days of registration on any sports market.
4. If your bet loses, you’ll get your money back, up to $1,000, as a single bonus bet.
5. You must use the bonus bet within 14 days, or it will expire.

What does the promo mean for you?

New users located in Tennessee have the opportunity to receive a $1,000 first bet on Caesars. In the event that the bet is unsuccessful, users will receive their money back in the form of a single bonus bet, up to $1,000.

How much money can be earned with the promo?

The earnings you receive from this promotion are determined by how you utilize your bonus bets. Successfully selecting winning bets can result in a substantial payout, while using your bonus bets on losing bets will result in no winnings.

Why is this bonus better than others?

BetMGM is the only TN online sportsbook that offers a higher total potential bonus than the $1,000 in bonus bets, making it one of the highest dollar values in guaranteed bonus bets available.

Fanatics TN welcome offer

Fanatics Underscoreg was created through a significant business partnership between Fanatics, an online sports apparel company, and PointsBet, an Australian-based sportsbook. This collaboration led to a complete rebranding of PointsBet’s U.S. business assets, culminating in the official launch of Fanatics Underscoreg in late 2023.

Fanatics is now challenging established industry brands by offering a sleek mobile app, competitive pricing, and a generous welcome bonus. You can receive up to $1,000 in bonus bets without needing a Fanatics promo code.

1. Download the Fanatics Underscoreg app and register a new account.
2. Fanatics will give you up to $200 in bonus bets per day for the first five days after your account is created.
3. The daily bonus bet on day one is equal to your first qualifying bet (minimum $5 wager). Then, you must opt in before placing your qualifying wager in the next four days.
4. Bonus bets will be awarded regardless of the outcome of your qualifying wagers.
5. If you miss a day, you forfeit the bonus bet that day. However, you can resume collecting the bonus bets on the remaining days.
6. Bonus bets cannot be cashed out or transferred and expire seven days after receipt.

What does the promo mean for you?

The Fanatics promotion will match your qualifying wagers for the first five days, up to $200 per day. To participate, remember to opt-in on the specified days, place daily qualifying bets, and receive an equal amount back in bonus bets. You can earn bonus bets with a minimum wager of $5, even if you don’t bet the maximum $200 each day.

How much money can be earned with the promo?

By betting $200 each day for five consecutive days, you will receive $1,000 in bonus bets to use on Fanatics. These bonus bets cannot be cashed out but can be used to place more wagers on the platform. They are a risk-free way to make additional picks and potentially increase your winnings.

Why is this bonus better than others?

This bonus stands out from others because it provides bonus bets regardless of whether your initial wagers are successful. The Fanatics offer surpasses first-bet insurance offers, which only compensate you if your first bet is unsuccessful. It also outperforms bet-and-win promotions, which mandate that you win your first bet in order to receive the bonus funds.

How we rate and review sports betting promotions

Our editorial team is providing educational support to newcomers to Tennessee sports betting by conducting independent and comprehensive reviews of all 12 online sportsbooks to help them understand the best options available.

Our team of experts uses consistent grading philosophies when evaluating sports betting app promotions. It is important to read the fine print to maximize the value of your welcome bonus. Here are the key factors our experts focus on when rating a sportsbook’s welcome promotion.

• What is the minimum and maximum value of the sign-up offer?
• Is the welcome promotion guaranteed just by making a first deposit or wager?
• Does the welcome bonus require a promo code at the time of the first deposit?
• How much do new players deposit to unlock the welcome promotion?
• What are the terms and conditions of the welcome bonus?
• Are there playthrough requirements to request a withdrawal of funds from an account wallet?
• What the expiration date is after acquiring bonus funds and first bet insurance?

Welcome bonuses vary in terms of requirements and benefits. Some may only require a small initial wager, such as $5, while others may necessitate a significant first bet to fully take advantage of the offer. Certain bonuses are ideal for beginners who prefer to bet with lower stakes, while others, like Caesars, are better suited for experienced gamblers who are comfortable with larger bets reaching four figures.

Types of Tennessee betting sign-up offers and bonuses

With the recent widespread legalization of sports betting in many American states, operators are determined to stick with the tried and true methods of attracting customers by offering three main types of sign-up promotions: deposit match bonuses, bonus bets, and the increasingly popular first bet insurance. This article provides a detailed breakdown of each promotion and how operators leverage them to attract new customers.

Deposit match bonus

Take advantage of deposit match welcome bonuses when offered by operators, as they are rare nowadays. These bonuses usually involve the operator matching a percentage of your initial deposit up to a certain limit. For instance, a 100% deposit match up to $500 would turn a $500 deposit into $1,000 in your account. On the other hand, a 50% deposit match, such as the one offered by Action 24/7 in Tennessee, would add $400 in bonus funds to an $800 deposit, giving you a starting bankroll of $1,200.

Bonus bet

Over the last year, bonus bets have become increasingly popular. Most top Tennessee sportsbooks now offer some version of a ‘bet & get’ deal, which has been well-received by new bettors for good reason.

Typically, these bonuses only ask for a small initial deposit of $10 or less, along with a real money wager of $5 or $10. In return, your account will receive a generous amount of bonus bets, usually between $100 and $200.

These bonus bets cannot be withdrawn as cash and must be used to place additional wagers. This provides you with more opportunities to make a profit as you become acquainted with a new sportsbook platform. Be cautious of any additional terms, such as requiring your first bet to be a winner to qualify, or the expiration date of your bonus bets.

First bet insurance

These days in Tennessee, the most popular sign-up offer for new players is first-bet insurance. This bonus is beneficial for both the player and operator, as there is a possibility that no welcome bonus funds will be awarded if the player wins their first wager.

In some instances, operators may offer to protect one’s account by matching the amount of the first bet in case of loss. For instance, Caesars frequently provides a $1,000 first-bet insurance promotion. This means that if you wager up to $1,000 on your first bet and it loses, they will reimburse your account with $1,000 in bonus bets. Typically, no bonus funds are awarded if your initial bet is successful.

Referral bonus

Underpinnings often provide additional incentives beyond just welcome bonuses. A popular promotion includes offering referral bonuses to current players who successfully refer their friends to join for the first time.

After receiving a unique code or link, share it with others. When someone creates a new account and makes their first deposit using your link, you will receive a small reward, typically a bonus bet or cashback ranging from $10 to $100. Visit our top sportsbook referrals page for details on how to redeem these bonuses.

Tennessee online sportsbooks

Tennessee stands out for not having any retail sportsbooks and allowing the Sports Wagering Advisory Council to issue unlimited sports betting licenses to operators. At the beginning of 2022, the state had 11 online sportsbooks, but has since seen changes with the departure of TwinSpires and the arrival of Fanatics. The 11 active sports betting apps may soon be joined by additional operators, as BallyBet and ZenSports are preparing to launch and await approval for their applications.

Please be advised that WynnBET ceased operations in the state on August 11, 2023.

Tennessee online and mobile sportsbooks

Tennessee betting resources

If you’re new to sports betting and have just come across this Tennessee sportsbook promotions page, you may find it confusing at first. This page is just one of many resources on Tennessee sports betting that SBR’s editorial team has published to assist players in making informed decisions. Be sure to explore the other pages below, starting with Tennessee’s top sportsbooks and betting apps. Additionally, don’t forget to learn about the different bonuses offered by sports betting apps and check out our detailed review of the best online sportsbook in Tennessee, FanDuel.

Sports betting by category

No matter your preferred sport or league, you can find a fantastic sportsbook bonus at numerous legal and licensed sportsbooks in your state. Check out this list of top sportsbooks categorized to help simplify your decision-making process.

Responsible sports betting with Tennessee promos

In January 2022, the Tennessee Sports Wagering Advisory Council (SWAC) took over the role of overseeing sports betting in the state from the Tennessee Education Lottery. The SWAC is responsible for reviewing applications, granting licenses, enforcing regulations, conducting audits of sports betting operators, and serving as a liaison for addressing problem gambling.

The council collaborates with the state’s department of Mental Health and Substance Abuse Services to assist individuals facing challenges with responsible gambling.

You can choose to receive treatment through an in-person appointment or via telehealth video conferencing.

To obtain additional information, please reach out to:

Dr. James Whelan is the Executive Director of The Gambling Clinic at The University of Memphis, Department of Psychology. He can be reached at (901) 678-3736 or [email protected].

The SWAC offers support for individuals struggling with problem gambling by providing resources. Operators contribute by setting limits on sports betting app session times and allowing players to establish a bankroll budget for a specific period to prevent them from risking more than they can afford.

You can contact the Tennessee REDLine at 1-800-889-9789 via phone or text any time of day or night.

National U.S. gambling helpline: 1-800-426-2537

Tennessee sports betting recent news

Underscoreg promos and bonuses in other regions

Sports betting regulations differ by state, resulting in varying promotions offered by different sportsbooks based on your location. Refer to our legal sports betting state tracker for details on each of the 50 U.S. states.

Underscoreg promos & bonuses in legal U.S. states

Underscoreg promos & bonuses in international regions

• Canada sportsbook promos (excluding Ontario)

• U.K. sportsbook promos