Tennessee Sports Betting Generates $131.4m in First Month
This is the best debut handle from a single state since 2019 where Indiana bettors wagered $35.2m in September
According to data released by The Tennessee Education Lottery, Tennessee sportsbooks generated $131.4m in November; its first full month of legal sports betting activity. This is the best debut handle from a single state since 2019 where Indiana bettors wagered $35.2m in September of last year. New Jersey, which is regarded as the capital of US betting, did not reach figures as high as this until its fourth month.
The operators that benefited from this influx of wagering activity were FanDuel, DraftKings, BetMGM and Action 24/7; all of which were live for the first month of legal betting in the state. But, it is not just the operators that will be happy with these strong figures, with more than $2.4m in taxes generated for the state too.
“Local sports matter in legal sports jurisdictions in the US, and a strong NFL team matters more than most, so the Titans success is bound to translate into bets,” said Dustin Gouker, analyst for PlayTenn.com.
“With its growing list of operators, this is just the start for the market. The next question is when and if Tennessee will challenge Colorado and Indiana in terms of overall market size. It appears sooner than anyone expected.”
WynnBet, William Hill and BetAmerica are all expected to launch in Tennessee the early stages of 2021. Plus, with a bursting US sporting calendar to look forward to, we expect more record figures from Tennesse!
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