Tennessee sports betting generates $144.5m in bets for August
According to the Education Lottery and Sports Wagering Advisory Council, the pace of betting remained $4.7m per day.
US.- Tennessee’s sports betting handle reached $144.5m in August, remaining even with July, according to the Tennessee Education Lottery and Sports Wagering Advisory Council. The pace of betting remained at $4.7m per day.
Gross gaming revenue decreased to $13.2m from $15.2m in July. August’s revenue produced $10.1m in taxable revenue, which yielded $2m in tax revenue.
Nicole Russo, analyst for PlayTenn.com said: “After an up and down summer, it would’ve been encouraging to see some growth in handle ahead of what is a crucial period in the industry. No sport motivates bettors like football, though. And a surge in betting this fall will put an end to the slower summer months.”
Eric Ramsey, analyst for the PlayUSA.com Network, which includes PlayTenn.com commented: “This is the most important time for the industry, but we still don’t know for certain how bettors in Tennessee will engage over a full football season.
“It seems like a safe bet that wagering on football will likely represent a greater share of Tennessee’s annual handle than the national average.”
Tennessee is the first state in the US to launch an all-mobile sports betting market. The first full week of sports betting brought in a handle of $27m.
