Tennessee sports betting handle grows 26.5% year-on-year in July
The state reported $182.8m in bets in July, up 26.5 per cent year-on-year, but down 15.3 per cent compared to June.
US.- Bettors in Tennessee wagered $182.8m in sports in July, according to Tennessee’s Sports Wagering Advisory Council (SWAC). That’s a drop of 15 per cent from June’s $215.8m but an increase of 26.5 per cent compared to the same month in 2021. July’s figures make Tennessee the tenth state to surpass the $5bn mark for sports bets.
Payouts to winning bettors amounted to $164.6m, leaving $27.3m in gross revenue. The state’s online operators registered a 9.9 per cent win rate. Both figures were an improvement over June, when gross revenue clocked in at $15.6m. The win rate for operators was around 7.3 per cent. The state claimed $3.7m in tax receipts, lifting its total for the year over $29m.
Gross revenue for January to July was $172.2m, 48.2 per cent higher than in the first seven months of last year. According to the SWAC, there are currently 13 online sportsbook operators licenced to do business in Tennessee.
