DraftKings Sportsbook Is Now Live With Sports Betting in Tennessee
Denise Truscello/Getty Images for DraftKings.
The former daily fantasy sports operator got into the betting market shortly after the U.S. Supreme Court struck down PASPA in May 2018. They’ve been perhaps the most aggressive sportsbook in the industry thus far, getting into every legal, online state.
DraftKings is one of the biggest books in the country, largely thanks to its already-huge DFS (daily fantasy sports) user base built over nearly a decade.
They have legal, online betting in the following states currently:
Sports betting enthusiasts will certainly track the success of DraftKings 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 (which are bad for the consumer) 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 — it baked a clause into its sports betting bill that it can revisit its rules and regulations in 12 months.
DraftKings will be perhaps the biggest player long-term in the betting space, with likely plans to operate in every state that comes online with sports betting. With its sleek app and good customer offers, they are already a favorite of many U.S. bettors.