Sports betting handle in Tennessee reached a record high for the second consecutive month in November, while tax from wagering in the Volunteer State also reached a new all-time high.
Gross wagers during November amounted to $598.6 million (£469 million/€569.4 million). This is 16.1% more than in Tennessee last year and 8.6% higher than October’s existing record of $551.2 million.
Data from the Tennessee Sports Wagering Council show $4.2 million worth of adjustments, the details of which were not disclosed. After taking these into account, gross handle for the month was $594.4 million.
On top of this, the Council also reported $11 million in tax from sports betting activities in November. This is another new record for Tennessee, surpassing the previous all-time high of $10.1 million in October.
The Council does not publish figures for sports betting revenue, nor does it break down monthly performance by operator or sport.
At present, 12 mobile betting platforms are live in the state. Only online sports betting is permitted in Tennessee, with retail wagering not currently legal in the state.
Tennessee is also the only state with commercial sports wagering to generate tax revenue via a percentage of handle. The regulated market has been open since November 2020.
Caesars, Bally Bet, FanDuel, DraftKings, Fanatics, ESPN Bet, BetMGM and Hard Rock Bet are among those licensed in Tennessee. Also approved are Betly, ZenSports, Superbook and Tennesee Action 24/7.
Robert Fletcher
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