Tennessee sports betting launches on Nov. 1, and national sportsbook FanDuel is ready to jump into action.
“This is going to be a very good time to be a sports bettor in Tennessee,” said Mike Raffensperger, chief marketing officer of the FanDuel Group, in a recent interview.
FanDuel gears up to wow Tennessee bettors
FanDuel is one of only four operators with a Tennessee sportsbook license, the other three being DraftKings, BetMGM and Action 24/7.
Tennessee marks the eighth state FanDuel’s sportsbook brand will operate in. This industry giant has been a household name since 2009, when it launched as a daily fantasy sports company.
Raffensperger is optimistic about FanDuel’s contribution to this new environment. The company has been pioneering the sports betting legalization march throughout the country and intends to do the same in Tennessee.
“We are the number one online sportsbook in America. We fully expect and desire to be the number one online sportsbook in Tennessee.”
FanDuel’s easy-to-use platform
While other states offer retail sports betting locations, Tennessee is unique in that it is the first online-only market in the country. In turn, a Tennessee sportsbook’s digital interface must be optimal in both performance and aesthetics.
FanDuel finds advantage in the sports betting world by relying on the company’s origins.
“FanDuel is not a gaming company first, it’s a technology company first. And that has made our app the easiest to use in the industry.”
This niche leader offers more items to bet on than any other sportsbook, as well as currently unmatched combined betting.
“One specific thing that sets FanDuel apart is we’re the only sportsbook to offer same-game parlays. Most other sportsbooks can’t actually offer that within the same game.”
Bonus offers and promotions
FanDuel’s promotional offers are consistently popular with players. Their current sign-up bonus emphasizes that.
“You can download the FanDuel app right now and take a look around. If you register, we’ll actually put $50 in you account so you’re ready to start betting when we go live on Nov. 1.”
Raffensperger revealed they’ll be upping the ante further with ongoing bonuses planned for Tennessee. He touted the “unprecedented level of generosity” that will make it easy for new bettors to try out their platform.
“Anybody who comes onto our sportsbook gets to place their first bet risk-free. So, place your bet up to $1,000. If you lose your first bet, we’ll put it back into your account the next day.”
Tennessee has approved all major league sports for betting as well as an eclectic array of other options. FanDuel plans to optimize on the variety.
Brand strategy intends to hone in on local teams and hometown favorites. Bettors can expect to find compelling bonuses on Tennessee Vols, Tennessee Titans and Memphis Grizzlies games. Raffensperger states, for example,
“This following week, the Vols play Arkansas. So we’re offering new bettors +2500 on the Vols to win that game. You’ll see things like that repeatedly and consistently from FanDuel.”
Tennessee’s unique 10% hold requirement
The Volunteer State requires sportsbooks to retain a mandatory 10% hold on the winnings paid out to players. While this is helpful for overall sportsbook revenue, it is potentially detrimental to the consumer experience and overall engagement.
This higher hold percentage encourages FanDuel to develop new methodology:
“We’re happy to comply with the state’s regulations. We want sports betting to be fun. We will ensure that the right level of generosity gets to our customers through bonuses and promotions and other things, and that ultimately, we meet the requirements of the state on having that 10% hold.”
FanDuel’s emphasis on responsible gaming
FanDuel is no stranger to customizing their services per individual state legislation.
They’ve been collaborating with the Tennessee Education Lottery (TEL), the regulatory body for sports betting in Tennessee. Raffensperger agrees that the state’s regulations help drive the industry forward in a responsible manner.
FanDuel intends to help roll out Tennessee sports betting with responsible gaming at the forefront.
“We’re excited to take consumer-protected, legal sports betting and create a new marketplace that offsets the black and grey markets that frankly don’t offer those same protections – and they don’t take responsible gaming seriously in the way that FanDuel does.”
Fluidity will be pivotal as this unique market evolves.
All signs point toward Nov. 1
The TEL toyed with the idea of a soft launch for this week, though no early start has been announced.
“We are excited and ready to go on whatever timeline we align with. Currently, it’s all eyes toward Sunday, Nov. 1.”
Regardless of the go date, FanDuel is ready and set to showcase its enthusiasm toward the Tennessee fanbase. Likewise, bettors can be delighted to welcome them into their fold.