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

Tennessee sports betting promos quick facts

All Tennessee sportsbook promo codes

Of Tennessee’s 10 online sportsbooks, only BetMGM, Caesars, and Action247 require a promo code to be punched in at the first deposit to redeem its welcome bonus. Most of the other active operators in the state boast sign-up offers valued at hundreds, if not thousands, of dollars. The welcome promotions come in three types:

• Deposit match bonus
• First bet insurance
• Bonus bets

Each of these bonuses possesses the possibility of adding value to your sportsbook wallet. Still, the catch is bettors must meet certain requirements before credits are applied to your account or before you can request a withdrawal. This is why it’s imperative to review each online sportsbook’s sign-up offer terms and conditions before registering a new account because the last thing you want is a surprise after placing a bet slip.

FanDuel TN welcome offer 🔵

FanDuel’s app store ratings are among the best in the Tennessee market. So, in addition to an elite user experience on its sports betting app, new players can claim a welcome offer of $200 in bonus bets with any winning first wager of $5 or more. No FanDuel promo code is required.

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.

Why this FanDuel bonus is better than others

Even though you have to win your first bet to claim this FanDuel offer, it comes with one perk that truly makes it shine compared to others. The $200 in bonus bets are extremely flexible and can be used in any amount(s) you want. I loved being able to choose between making a $10 multi-leg longshot parlay or a safer $50 straight bet. And with $200 to play with, I was able to do plenty of both. 

DraftKings TN welcome offer 👑

DraftKings has carved out a solid market share in Tennessee since launching in November 2020. However, they are still being aggressive in an effort to attract new players. The current sign-up bonus at DraftKings TN is a bet $5, get $150 in bonus bets offer. No DraftKings promo code is required.

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.

Why this DraftKings bonus is better than others

Some people might second-guess this DraftKings bonus for its $150 value, which is admittedly lower than the likes of BetMGM or Caesars. However, I actually prefer the DraftKings welcome offer for one simple reason: it's 100% guaranteed. 

Unlike other offers that require you to specifically win or lose your first bet, DraftKings doesn't actually care how your pick fares. I collected $150 in bonus bets even though my first bet ended up losing. So it cost me $5, but I had six $25 bonus bets to play with before I needed to use my own bankroll again. 

BetMGM TN welcome offer 🦁

BetMGM Sportsbook’s efforts to woo new players to its Tennessee online sportsbooks and sports betting app involve first-bet insurance paid back via bonus bets. Use our exclusive BetMGM bonus code SBRBONUS to claim this sign-up offer, which can protect you 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.

Why this BetMGM bonus is better than others

When it comes to first-bet insurance, BetMGM leads the pack. Other sportsbooks offer similar terms, but no one matches BetMGM's maximum dollar value of $1,500. For experienced bettors or those with larger bankrolls, being able to make a large first bet, knowing you'll get a rebate if it loses, is extremely attractive. 

Even though my bankroll didn't support a $1,500 first wager, I found the BetMGM bonus simple to understand and claim. I made a $50 bet that the Titans would cover the spread, and they let me down (as expected). BetMGM quickly added five $10 bonus bets into my account, giving me multiple chances to win my money back. 

Caesars TN welcome offer 🏛

 Caesars online sportsbook and sports betting app continues to be aggressive in their marketing approach to Tennessee’s new players. Their current welcome offer consists of a $1,000 first bet on Caesars. The Caesars Sportsbook promo code SBRBONUS1000 is required at the time of first 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.

Why this Caesars bonus is better than others

The Caesars sign-up bonus is almost identical to BetMGM's, with a few small differences. The first (and most obvious) is that it's a lower dollar amount, only covering your first bet up to $1,000. The second important detail is that Caesars delivers its bonus as a single bonus bet, meaning you can't split it up into smaller bets.

However, Caesars' bonus still has some key features that make it better than others. There are no market or odds restrictions on your first bet, nor are there any restrictions on how you use your bonus bet (if you get one). Add it to the valuable Caesars Rewards loyalty program attached to your new account, and it's a no-brainer to try out this bonus. 

Fanatics TN welcome offer 🧢

Fanatics Sportsbook only emerged after a major business deal between Fanatics (an online sports apparel company) and PointsBet (an Australian-based sportsbook). The result was a total rebranding of PointsBet's U.S. business assets, leading to Fanatics Sportsbook officially launching in late 2023.

Now, Fanatics is making a run at the more established industry brands, attempting to claw out some market share with a slick mobile app, competitive pricing, and a great welcome bonus. You can claim up to $1,500 in bonus bets without a Fanatics promo code. 

1. Download the Fanatics Sportsbook app and register a new account.
2. Fanatics will give you up to $500 in bonus bets on Day 1 with up to $1,000 available from Day 2-11.
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.

Why this Fanatics bonus is better than others

Fanatics offers something slightly different in the TN welcome bonus department. Instead of first-bet insurance or a simple 'bet & get' deal, Fanatics offers a generous amount of bonus bets over five straight days. 

This bonus is better than others because it's guaranteed, instant, and scales to your bankroll. For example, if you're only comfortable betting $20 a day, you still get five days of matched bonus bets. Or if you get maximum value by betting $200+ every day, the bonus bets are still instantly added to your account, regardless of how your wagers perform. 

How we rate and review sports betting promotions

Our editorial team is helping educate those new to Tennessee sports betting on the ins and outs of the best online sportsbooks via independent and thorough reviews of all 10 operators.

However, our team of experts also applies similar grading philosophies when rating and reviewing sports betting app promotions. This step is where reading the fine print can be used to ensure you are earning the best bang for your welcome bonus buck. Here is what our experts concentrate on before 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?

Not all welcome bonuses are created equal. Some only require a minimal risk, as low as $5, while others need you to lose a large first bet in order to fully. Some welcome offers are great for novice gamblers who prefer low-stakes entertainment. Others, like Caesars, are better for experienced bettors who can easily handle a four-figure losing bet.

Types of Tennessee betting sign-up offers and bonuses

In the wake of vast sports betting legalization in many American states recently, operators appear hell-bent on sticking with what works and categorizing sign-up offers and welcome bonuses into three basic categories: the deposit match bonus, bonus bets, and, most popular, first bet insurance. Below is a detailed explanation of each promotion and how operators use them to earn your business.

Deposit match bonus

If an operator offers a deposit match welcome bonus, jump on it, as they are a rarity these days. Deposit match bonuses are typically a percentage of your first deposit, up to a specific amount. For example, a 100% deposit match up to $500 would take a $500 initial deposit and double your account funds to $1,000. A 50% deposit match, like at Action 24/7 in Tennessee, would take an $800 first deposit and kick in $400 in bonus funds for a bankroll total of $1,200 to start.

Bonus bet

Bonus bets have risen to prominence over the past year or so. Many of the best TN sportsbooks offer some form of a 'bet & get' deal. This type of offer has proven extremely popular among new bettors, and for good reason. 

These bonuses normally require only a minimum deposit ($10 or less) and a small real money wager of $5 or $10. After that, your account is credited with a chunk of bonus bets, normally in the $100 to $200 range. 

You can't withdraw these bonus bets as cash. Instead, you must use them to make additional wagers. That gives you extra chances to make some profit while you get familiar with a new sportsbook platform. Just watch out for any extra conditions, like needing your first bet to win in order to qualify, or how quickly your bonus bets expire. 

First bet insurance

The most common sign-up offer for new players in Tennessee these days is first-bet insurance. This type of bonus benefits both the player and operator as there is a chance no welcome bonus funds are awarded should the player win their first wager.

In other cases, operators will stake one’s account up to a specific amount of the first bet when a first bet loses. For example, Caesars often uses a $1,000 first-bet insurance offer. You can wager up to $1,000 on a first bet, and if it fails, they will credit your account back with $1,000 in bonus bets. In most cases, you don't earn any bonus funds if your first bet ends up winning.

Referral bonus

Sportsbooks frequently offer more than just welcome bonuses. A common promotion is to hand out referral bonuses to existing players who can recruit their friends to sign up for the first time.

You'll get a unique code or link to send out. If someone makes a new account and a first-time deposit using that link, you'll earn a small reward — usually a $10 to $100 bonus bet or cashback equivalent. Check out our best sportsbook referrals page for more information on how to claim these bonuses.

Tennessee online sportsbooks

With no retail sportsbooks in the state, Tennessee is unique in that the Sports Wagering Advisory Council currently has unlimited sports betting licenses to award interested operators. The state started 2024 with 12 online sportsbooks but has since lost three (TwinSpires, WynnBET, and SuperBook) and gained another (Fanatics). However, the 10 active sports betting apps could have more operators join them shortly as BallyBet and ZenSports are in the pipeline, ready for launch and application approval.

Tennessee online and mobile sportsbooks

Tennessee betting resources

You might be confused if you’re new to sports betting and first stumbled upon this Tennessee sportsbook promos page. This page is just one of several Tennessee sports betting resources SBR’s editorial team published to help interested players make an educated decision. You’ll also want to check out each page below and start with Tennessee’s best sportsbooks and betting apps. Don’t forget to look into a full rundown of how various sports betting app bonuses work and our deep dive review of the best TN online sportsbook, FanDuel.  

Sports betting by category

It doesn't matter what sport or league is your favorite; there's a great sportsbook bonus waiting for you at any number of legal and licensed sportsbooks in your state. Here's a list of the best sportsbooks by category, to make your decisions even easier:

Responsible sports betting with Tennessee promos

The Tennessee Sports Wagering Advisory Council (SWAC) replaced the Tennessee Education Lottery as the governing body of sports betting in the state back in January 2022. In addition to reviewing applications, issuing licenses, enforcing laws, and performing regular audits of sports betting site operators, the SWAC is also a problem gambling liaison.

The council works with the state’s Mental Health and Substance Abuse Services department to help those struggling with responsible gambling.  

Treatment options are available via an in-person meeting or telehealth video conferencing.

For more information, you can contact:

Dr. James Whelan, Executive Director, The Gambling Clinic  
The University of Memphis, Department of Psychology
(901) 678-3736
jwhelan@memphis.edu

The SWAC also provides individuals with resources to help identify problem gambling. Operators do their part by limiting sports betting app session times and allowing players to set a bankroll budget over a specific period so they don’t risk more than they can afford.

The Tennessee REDLine can be reached 24/7 via phone or text at 1-800-889-9789

National U.S. gambling helpline: 1-800-GAMBLER

Tennessee sports betting recent news

Sportsbook promos and bonuses in other regions

The legal status of sports betting varies from state to state. That means you'll find different sportsbooks with a variety of different promos (or none at all) depending on which state you're in. See our legal sports betting state tracker for information on all 50 U.S. states.

Sportsbook promos & bonuses in legal U.S. states

Sportsbook promos & bonuses in international regions

• Canada sportsbook promos (excluding Ontario)

• U.K. sportsbook promos