Tennessee sports betting handle reaches $392.7m in March

Tennessee’s sports betting handle registered an increase of 6.1 per cent year-over-year.

US.- Tennessee’s sports betting handle reached $392.7m in March. That’s an increase of 6.1 per cent year-over-year and 20 per cent from February’s $327.3m, according to the Sports Wagering Advisory Council (SWAC).

Revenue was $43.7m, up 92.1 per cent year over year and 37.2 per cent compared to February. Sports betting generated $8.8m for the state, an increase of 92.6 per cent compared to $4.5m in the same month in 2022. In Tennessee, there is a 20 per cent tax rate on operators’ GGR.

KeyStar has submitted a sports wagering licence application for ZenSports in Tennessee. ZenSports consists of both a traditional sportsbook and a peer-to-peer sports betting marketplace. It was acquired by KeyStar in October 2022, along with esports tournament specialist Ultimate Gamer.

KeyStar CEO Mark Thomas said: “Tennessee is the perfect first state for us to launch ZenSports in. Tennessee has demonstrated significant technology innovation and is one of the fastest-growing states for sports wagering.”