DraftKings Offering Bracket Contest In Wake Of Tennessee Lottery Approval

Tennessee is one of just five states in the country where DraftKings will run a legal and regulated March Madness bracket contest.

The contest, which will award a $1 million top prize and offers $2 million in total guarantees, also is available in Colorado, New Hampshire, West Virginia, and New Jersey. That’s it, per DraftKings.

DraftKings is allowing up to 20 entries in the contest.

In recent weeks, regulators with the Tennessee Lottery approved books offering this type of betting.

Unfortunately for Tennesseeans, there are no ranked men’s college basketball teams in the state, but the Tennessee Volunteers have a shot. They are currently listed at +4500 to win the tournament championship at the sportsbook. Memphis, which is on the bubble for the 68-team field, is listed at +15000. Belmont, which is 25-3 and trying to claim the automatic bid from the Ohio Valley Conference, is a +10000 option.

Sportsbooks in the state might see some folks drive up from Alabama — where there is no legal sports betting — to wager on the Crimson Tide at +1400. They are No. 8 in the nation right now and the top seed for the upcoming SEC tournament after winning the regular-season title outright.

Undefeated and top-ranked Gonzaga is the NCAA tournament favorite at +250.

Selection Sunday is 6 p.m. ET on March 14 on CBS. The entirety of the tournament will be held in Indiana, with the final three rounds played at Lucas Oil Stadium in Indianapolis.

The championship game is slated for 9 p.m. ET on Monday, April 5.

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