Tennessee sportsbooks report $370.2m in wagers in March
Tennessee has reported a sports betting handle of $370.2m, up 18.2 per cent from February and 79.8 per cent year-on-year.
US.- According to the figures released by the Tennessee Sports Wagering Advisory Council, the state saw a sports betting handle of $370.2m in March. Driven by March Madness, the NCAA championship, bets were up 79.8 per cent from $205.9m in March 2021 and 18.2 per cent from February’s $313.3m.
It was the third-highest monthly handle since Tennessee launched sports betting in November 2020. Sportsbooks won $26.5m in gross revenue from March’s wagers, up 47.3 per cent from $13.3m in March 2021 and 26.6 per cent from $20.9m in February. Tennessee collected $4.5m in taxes.
“Even without a Tennessee team making a deep run in the NCAA tournament, sportsbooks were able to beat expectations,” said Alec Cunningham, lead analyst for PlayTenn.
“March is the busiest non-football month of the year, and this year’s wagering topped all but the two busiest months of the football season, too. This shows an engaged base of bettors that have an interest that goes beyond the state border.”
The list of licensed online bookmakers in Tennessee has grown to 12. Three additional bookmakers have recently received approval to begin operating in the state but have not yet gone live.