There was great news in Tennessee today as BetMGM confirmed that they would be one of four mobile sportsbook operators (DraftKings, FanDuel, and Action 247 are the others) to launch in November. BetMGM is expected to launch at 8am CT on Sunday, November 1, and the others are expected to follow shortly after.
This is big news for gamblers in Tennessee as they become the first state to legalize gambling without requiring a brick-and-mortar presence in the state. All of the sports betting done in Tennessee will take place via mobile device.
The state of Tennessee is requiring a 10% hold (gross revenue divided by total dollars wagered) on all sportsbooks. This will ensure more money for the state of Tennessee but could have an effect on certain lines. It will not be uncommon to see lines of -115 or worse instead of the standard -110 that most NFL bettors would be used to.
As more states begin to go live (likely Virginia next), we will keep you updated.
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