BetMGM Sportsbook Officially Launches Sports Betting in Tennessee

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Tennessee is officially live with legal sports betting as of Sunday, Nov. 1, and BetMGM is one of the first members of the club.

BetMGM is already one of the biggest operators in the U.S., and you’ve likely heard of their hotels — owned by parent company MGM Resorts International — in Las Vegas, New Jersey and many other places.

In 2018, shortly after the U.S. Supreme Court struck down PASPA, which allowed states to legalize sports betting, MGM partnered with European operator GVC Holdings to create ROAR Digital, which runs the now-formed BetMGM brand.

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The sportsbook is now live and offering online wagering in six states:

Only DraftKings and FanDuel are currently in more states with legal online betting.

Sports betting enthusiasts will certainly track the success of BetMGM and the other sportsbooks in Tennessee, which has some unique sports betting regulations. The Volunteer State has one of the larger tax rates among legal states, and its legislation requires a 10% hold from sportsbooks, which could create inflated odds compared to other states like Nevada or New Jersey.

Will bettors be willing to pay the high prices or will the current legislation discourage bettors from signing up in-state? Only time will tell, and notably Tennessee could change its rules down the road.

BetMGM will continue to expand into states as sports betting comes online around the U.S. and should be one of the biggest players for years to come. With a solid app and wallet that works across all states, plus competitive bonus offers and favorable betting rules, the company has already become a favorite of U.S. sports bettors.

More Tennessee Sports Betting News & Resources



nguồn: Action Network https://www.actionnetwork.com/legal-online-sports-betting/betmgm-sportsbook-tennessee-launch
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What Tennessee’s 10% Hold Means for Sports Bettors

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Silas Walker/Getty Images. Pictured: Jarrett Guarantano Tennessee is the next state to join the legal sports betting market, going live Sunday, November 1. Four sportsbooks — DraftKings , FanDuel , BetMGM and Action 247 — will offer wagers from Day 1, with others assuredly coming soon. Those who have followed the legal landscape closely over the last two years since the U.S. Supreme Court struck down PASPA in 2018 are aware that sports betting in the states is not a once-size-fits-all proposition. Each state gets to make its own rules and regulations, and some states are quite different. Tennessee’s rules aren’t the worst in the country, but are definitely not the best for bettors, either. What’s Different About Tennessee: The 10% Hold The Volunteer State’s legislation requires that sportsbooks generate at least a 10% hold – the percentage of money books “hold” after all bets have been settled. In financial terms, it’s gross revenue divided by the amount of dollars wagered.
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