Sports Betting in Tennessee

sports betting

Whether you enjoy betting on sports for fun or to make money, there are a number of different types of sports that you can bet on. These are generally categorized into two groups: over/under bets and futures bets.

Over/Under bets

Getting started with over and under bets in sports betting can be a fun way to increase your chances of winning real money. However, before you go on a quest to bet the over and under on every game you watch, there are some things you should know first.

Getting started with over and under bets requires a bit of research, a lot of logic, and a reduction in the ego. Taking the time to learn about the sport you plan on wagering on, the most important players, and what they can do for you will ensure you make the best decisions possible.

Futures bets

Unlike other forms of sports betting, futures bets are placed weeks or months in advance of a game. This provides an opportunity to profit from an event with a high degree of certainty. However, there are some drawbacks to futures bets.

There are many types of futures bets. The most common are on the winner of a single game or a league championship. These types of bets are very profitable if made properly. However, these types of bets can tie up a significant portion of a betting account.

Legalization in New York

During the last legislative session, lawmakers attempted to pass bills that would have legalized sports betting in New York. But the state legislature never advanced them past committee stage. This was due to the emergence of the COVID-19 pandemic. Several legislators were hopeful that their bills would be passed in 2020, but more pressing matters took precedence.

Legislators also failed to pass a bill that would have increased the number of online sports betting operators in New York. Their proposal would have established 10 to 12 mobile licenses.

Legalization in Indiana

Earlier this month, Indiana became the latest state to legalize sports betting. Governor Mike Pence signed the bill into law on March 24. It will allow wagers on professional and college sports, including football, basketball, hockey, golf, soccer, and rugby. In addition to the wagers, Indiana is also allowed to legalize fantasy sports.

The state will also allow live betting at its casinos, as well as at off-track betting parlors. However, the Indiana Gaming Commission has the final say on live wagering. It has yet to specify a tax rate.

Legalization in Tennessee

Currently, Tennessee is the only state in the country that does not have land-based casinos. It is also the first state to participate in sports gambling without a casino presence. However, the sports betting industry in Tennessee has been growing steadily and it is expected to continue to grow.

The emergence of the state’s lottery as the financial driver for the expansion of sports gambling was a major argument for the legislature to make the move. While the lottery is not required to have sports betting operators, it does need to ensure that the companies it licenses adhere to responsible gaming and consumer protection standards.