Tennessee has four licensed daily fantasy sports (DFS) operators confirmed by the Sports Wagering Council (SWC): DraftKings, FanDuel, Underdog Sports, and SidePrize LLC (doing business as PrizePicks). The SWC gained formal authority over fantasy sports operators via Public Chapter 143, effective July 1, 2023, meaning these platforms now operate under the same state oversight body that regulates licensed sportsbooks—though the product, the rules, and the age requirements differ in meaningful ways.
How old do you have to be to play DFS in Tennessee?
The minimum age for daily fantasy sports in Tennessee is 18+, which is three years younger than the 21+ threshold required for legal sports betting at licensed sportsbooks. That distinction matters if you're a younger resident wondering why you can enter a PrizePicks lineup but can't place a moneyline bet on DraftKings Sportsbook. The 18+ floor aligns Tennessee DFS with the Tennessee Lottery's minimum age, creating a consistent lower-age bracket for skill-based and lottery-style products versus straight sports wagering. For a full breakdown of how age limits apply across both product types, see Is Sports Betting Legal in Tennessee? Legality, Age Limits, and Regulators Explained.
Which DFS operators are licensed in Tennessee?
The SWC's confirmed licensee list covers four operators. DraftKings and FanDuel are the two largest national platforms, each offering both a DFS product and a fully licensed Tennessee sportsbook. Underdog Sports and PrizePicks (operated by SidePrize LLC) are DFS-only platforms in the state—they offer best-ball drafts, pick'em contests, and similar formats, but they are not licensed Tennessee sportsbooks. That means any promotional credits or entry bonuses you earn on those platforms exist entirely outside the sportsbook bonus ecosystem. The SWC's enforcement record for unlicensed operators is not a minor concern; the council fined five offshore books $50,000 each in July 2025. You can read more about that enforcement environment at Offshore and Illegal Sportsbooks in Tennessee: What the SWC Enforcement Record Means for Bettors.
How does the 6% DFS privilege tax work?
The Tennessee Department of Revenue collects a 6% privilege tax on DFS operator revenue—that is, on the operators' net revenue after paying out prizes, not on individual players' winnings. This is a separate tax structure from the privilege tax applied to licensed sportsbooks and has no direct impact on the dollar value of your contest entries or prize payouts. It does, however, confirm that Tennessee treats DFS as a taxable commercial activity under state law, which is part of why the SWC's 2023 authority expansion mattered: it brought formal regulatory accountability to operators that were previously operating in a looser legal environment.
How do DFS promos compare to sportsbook bonuses?
DFS promotions and sportsbook welcome offers are structured very differently. Licensed Tennessee sportsbooks like DraftKings offer deals such as Bet $5, Get $200 in bonus bets instantly—see our DraftKings Tennessee Sportsbook Bonus Review: Bet $5, Get $200 Instantly for the full breakdown. Sportsbook bonuses are governed by specific SWC-compliant terms including minimum odds thresholds (typically -500 or longer), 7-day expiration windows, and one-per-household limits. DFS promos—deposit matches, entry fee credits, referral bonuses—tend to be smaller in dollar terms and tied to contest entry volume rather than a single qualifying wager. Neither type of promo guarantees a profit, and players should approach both as entertainment budget items rather than expected income.
| Operator | License Type (TN) | Minimum Age | Bonus Structure | SWC Oversight |
|---|---|---|---|---|
| DraftKings | DFS + Sportsbook | 18+ DFS / 21+ Sportsbook | Bet $5, Get $200 in bonus bets (sportsbook); separate DFS entry promos | Yes (both products) |
| FanDuel | DFS + Sportsbook | 18+ DFS / 21+ Sportsbook | Bet $5, Get $300 if first bet wins (sportsbook); separate DFS deposit credits | Yes (both products) |
| PrizePicks (SidePrize LLC) | DFS only | 18+ | Entry fee credits and deposit match offers; no sportsbook welcome bonus | Yes (DFS only, via Public Chapter 143) |
| Underdog Sports | DFS only | 18+ | Deposit bonus offers tied to contest entries; no sportsbook product in TN | Yes (DFS only, via Public Chapter 143) |
If you're 21+ and interested in the full range of sportsbook welcome offers available across all licensed Tennessee operators—values ranging from $150 to $2,000+—our main rankings page covers every current offer side by side: Best Tennessee Sportsbook Bonuses Ranked: $150 to $2,000+ Compared. Bonus availability and terms apply only within Tennessee and are subject to change; always verify current offers directly with the operator before signing up.
21+ for sportsbook wagering. Gambling problem? Call 1-800-GAMBLER.