bet365 has secured a new operating licence from the Tennessee Sports Wagering Council, no launch date has been announced yet.

The state charges an annual licensing fee of $750,000, along with a 20 percent tax rate. Those numbers much higher than most other states that have implemented legalized gambling.

From its inaugural year in 2020, Tennessee’s sports betting handle has consistently risen, reaching record-breaking levels in 2024. Monthly handles, such as the October 2024 figure of $547.76 million, highlight the market’s resilience and popularity.

Tennessee also restricts prop bets on all NCAA football and basketball games, gives leagues and colleges the power to restrict bet types, forces sportsbooks to purchase official league data and requires sportsbooks to take a 10% hold on all wagers.

The Tennessee Sports Gaming Act does not actually permit in-person retail sportsbooks, rather opting to have all wagers be available statewide in an online capacity.