Tennessee sports betting handle hits record $440.5m in December
Tennessee announced another record in legal sports betting.
US.- Bettors in Tennessee wagered $440.5m on sports in December, according to Tennessee’s Sports Wagering Advisory Council (SWAC). That’s a new monthly record for the state, surpassing the previous record set in November 2022 when bettors wagered $439.5m.
December figures also show a 22.4 per cent increase compared to the same period in 2021, when bettors in Tennessee wagered $341.8m.
There are 13 licensed online sportsbooks in Tennessee. Sportsbooks paid bettors $391.2m in winnings, resulting in operator hold of 11.2 per cent before adjustments.
After adjustments, the gross income from sports betting in Tennessee was roughly $46.9m. The state received $9.4m in taxes, another improvement from November’s $9m.
The state dedicates 80 per cent of the taxes collected from sports gambling to education, 15 per cent for distribution to local governments and 5 per cent to mental health programs.
