Tennessee

The market

Tennessee is online only, with no retail sportsbooks, and it taxes handle instead of revenue. That handle tax makes operators careful with promotions, but it's still a competitive market.

What this means for matched betting

Tennessee taxes turnover, not profit, so every wager costs the book something whether it wins or loses. That makes operators watch promotional volume closely: expect tighter qualifying terms than the tax rate alone suggests. The field is competitive enough to hedge across.