Partially Regulated
There is limited authorised gambling in Tennessee.  Tennessee has authorised a lottery which is operated by the Tennessee Education Lottery Corporation, and online sports wagering and fantasy sports contests which are overseen by the Tennessee Sports Wagering Council.

Market Size
With a population of over 7 million people, Tennessee ranks as the 16^th most populous state in the United States. Tennessee is also a popular travel destination.  In 2021, tourism in the state generating USD 24.2 billion in domestic and international travel spending. Tennessee expects to welcome over 15 million visitors to Nashville in 2023 alone.

Competitive Landscape
Tennessee currently has ten licensed sportsbooks and no law limiting the number of licences available, allowing the potential for significant growth.

Localisation
Credit cards are not permitted as a form of funding betting accounts. Acceptable forms of payment methods include methods using readily available funds such as debit cards, electronic bank transfers, online and mobile payment systems, and winnings or pay-outs.

Advertisements and promotions are permissible in a wide variety of forms and media outlets as long as the form of media does not appeal primarily to individuals under the legal age of 21 years old.

Top Key Attractions and Challenges
Attractions

• Tennessee sports betting has been growing since it went live in November 2020, with January 2023 online sportsbooks generating USD 36.3 million in revenue, up 25% from January 2022 numbers
• There are no limitations on how many sportsbooks can be licensed
• Online sportsbooks are not required to partner with brick-and-mortar casinos

Challenges

• Due to the availability of an unlimited number of online sports betting licences, Tennessee is a highly competitive market