Tennessee reports $1.7bn in sports bets in first year

According to a report from the Tennessee Education Lottery, the state generated $156.6m in sports betting revenue.

US.- After nearly a year of online sports betting in Tennessee, the state has reported almost $2bn in wagers. Data from the Tennessee Education Lottery shows that wagers generated $156.6m in sports betting revenue and $28.8m in taxes for the state.

The state was the quickest to reach $1bn in online sports wagers. Only eight states generated more than $100m in sports bets during their first six months.

PlayTenn.com analyst Nicole Russo said: “Tennessee is only beginning to scratch the surface of its potential. Its roster of operators is growing, and its online-forward design is appealing.

“Better transparency in the market’s regulation would go a long way in moving the market forward. And removing the state’s 10% hold requirement on operators would help, too, even as it looks like the rule might be here to stay.”

See also: Tennessee sports betting generates $144.5m in bets for August