In November, the total amount wagered in Tennessee reached $598.6 million (£469 million/€569.4 million). This figure represents a 16.1% increase compared to the previous year and an 8.6% rise from the former record set in October, which stood at $551.2 million.
According to the Tennessee Sports Wagering Council, adjustments totaling $4.2 million were made, although the specifics were not revealed. After factoring in these adjustments, the gross handle for the month came to $594.4 million.
Additionally, the Council announced that $11 million in tax was collected from sports betting in November—a new record for the state, surpassing October’s previous high of $10.1 million.
While the Council does not provide specific revenue figures from sports betting, nor does it detail performance by operator or sport, it is clear that Tennessee’s sports betting market is robust. Currently, 12 mobile betting platforms operate within the state, as only online betting is allowed and retail betting remains illegal.
Tennessee is unique as it is the only state with commercial sports wagering that collects tax revenue based on a percentage of the handle. The state’s regulated market has been active since November 2020.
Licensed operators in Tennessee include Caesars, Bally Bet, FanDuel, DraftKings, Fanatics, ESPN Bet, BetMGM, and Hard Rock Bet. Other approved operators are Betly, ZenSports, Superbook, and Tennessee Action 24/7.