Gross handle in Tennessee in December was 12.0% higher than in the same month in 2023. However, it was 4.3% behind the record $515.5m wagered in November 2023.
Incidentally, November was the first month in which player spend on betting in Tennessee surpassed $500.0m. The state’s legal wagering market opened in November 2020.
The gross handle figure accounted for $1.7m in adjustments which, when included, meant $495.1m in gross wagers.
Gross handle for Tennessee in December was up by 12.4% year-on-year but 4.3% behind the $517.1m posted in November.
Leading operators active in Tennessee
Tennessee was able to generate $9.1m in privilege tax from sports wagering during the month. Figures were published by the Tennessee Sports Wagering Council but did not include data on revenue.
Several leading operators went live when the market launched just over three years ago. FanDuel, DraftKings and BetMGM have all been live since the opening day, taking bets across a wide range of sports.
The Tennessee market has expanded over the years, with several more operators joining in more recent times.
Among those to have gone live in the past two years is Fanatics Sportsbook, which went live in August of last year. This was accompanied by launches in Maryland, Massachusetts and Ohio as part of the brand’s wider growth plan.
Another recent addition is ESPN Bet, which rolled out in Tennessee in November 2023. Again, this was part of a multi-state launch, with the brand going live across 17 states in total.
Going back further and Hard Rock launched in Tennessee in September 2022. The operator was already running three Hard Rock Cafés across the state, while the Hard Rock Bristol Casino is located over the state line in Virginia.
In addition, Caesars Sportsbook runs sports betting in Tennessee. This is possible through a multi-year partnership with Tennessee-based NBA team Memphis Grizzlies agreed in August 2022.
Original article: https://igamingbusiness.com/sports-betting/tennessee-betting-handle-tops-493-3m-in-december/
