In April, Tennessee sports betting saw a year-on-year rise that was almost identical to the 20.6% recorded in March. However, wagers collected in April were well down on the $473.6m collected in March, which enjoys a busy sports schedule.
With some $3.3m of income attributed as adjustments, overall gross handle was recorded as $380.9m. This compared to $472.0m in March, with no comparable figure released in April 2023.
In terms of privilege tax from sports betting, the state collected a total of $7.0m. This was up 9.4% compared to last year.
The Tennessee Sports Wagering Council does not publish data regarding monthly revenue, nor any information on individual operator performances.
Who is active in Tennessee sports betting?
While data on Tennessee sports betting is limited, the Volunteer State does feature some of the leading names in US sports betting. BetMGM, FanDuel and DraftKings have all been active since the state opened its legal market in November 2020.
One of the most recent additions is Fanatics Sportsbook, which went live in August last year. ESPN Bet is also a relative newcomer, rolling out its brand last November as part of a wider launch across 17 states.
Other brands active in the state include Hard Rock Bet, which launched in Tennessee in September 2022. In addition, Caesars Sportsbook runs sports betting via a multi-year partnership with Tennessee-based NBA team Memphis Grizzlies.
Original article: https://igamingbusiness.com/sports-betting/tennessee-sports-betting-records-further-year-on-year-gains/
