Tennessee Sports Betting Handle Reaches $524 Million For September

Tennessee has experienced a surge, particularly in September with the state reporting a betting handle of $524.7 million, marking a significant milestone since the inception of legal sports wagering in 2020.

September proved to be a landmark month for Tennessee’s sports betting market. The Tennessee Sports Wagering Advisory Council (SWAC) released data indicating a 52% increase in betting activity compared to the previous month.

The year-over-year comparison reveals a robust growth trajectory for Tennessee’s sports betting sector. With a 25% increase in handle compared to September 2022, it’s clear that more residents are engaging in sports wagering.

After accounting for various adjustments, the final reported handle settled at $520.8 million. Despite this slight dip, the financial implications for the state are significant. The tax revenue generated from sports betting reached an impressive $9.6 million for the month.

In the realm of sports betting, Tennessee’s performance stands out, especially when compared to its neighbouring states. While the timing of reporting varies, the data from Kentucky and Virginia sheds light on Tennessee’s strong position in the market.

From July to August, Tennessee experienced a remarkable month-over-month growth rate of 25.7%. This was notably higher than Kentucky’s 17.2% and Virginia’s 10.3%. Such figures indicate that Tennessee is not just keeping pace with its neighbours but is leading the charge in sports betting growth.