Tennessee Punters Wager $27M in First Week of Mobile Betting

According to figures revealed by Education Lottery, wagers in Tennessee reached $27.4m in the first seven days of legalization. This resulted in a revenue of $2.5m for the week, generating taxes of $509,000 for the Volunteer State. 

The vast majority of this tax will go to the state treasurer to deposit in the Lottery Education account. This is the focal beneficiary of lottery revenue. An additional 15% will be distributed to local governments. 

The Tennessee Education Lottery president and chief executive Rebecca Paul Hargrove said: 

“These numbers are encouraging as we work to protect the consumer, promote fairness in sports and regulate this new Tennessee industry that provides critical funds for education, as well as local governments and problem gambling services,”  

Mobile sports wagering was legalized as of November 1st 2020, with just a few brands licensed in the state. Gambling brands processing these bets included betting giants BetMGM, DraftKings and FanDuel as well local brand, Action247. 

BetMGM announced its entrance into the Tennesse market on Twitter, asking its Tennessee followers to mark their calendars ahead of November 1st.  

BetMGM CEO Adam Greenblatt said: 

"We've been eagerly working with regulators in Tennessee to make this momentous launch a possibility and look forward to introducing the state's passionate fan bases to the excitement of betting on sports with BetMGM." 

"Our relationship with MGM Resorts enables BetMGM users in the Volunteer State to earn rewards, from hotel suites to dinners at award-winning restaurants, all while engaging in the excitement of our cutting-edge sports betting experience."