Tennessee Sports Betting Handle Shatters Previous Record

• Tennessee sportsbooks more than tripled their previous monthly betting handle record.
• October handle shows 185.5% increase from first month of active sports betting.

NASHVILLE, Tenn. – In October, Tennessee sportsbooks handled the most money on sports bets in their history at $375.3 million. In September, Tennessee sportsbooks handled a sports betting total of $257.3 million – a 45% increase from September’s record.

These records come only one month away from the state’s one-year anniversary, which has seen a 185.5% growth year-over-year. In November 2020, books reported $131.4 million on sports betting, with Tennessee’s privilege tax increasing by 3%, from September’s $3.3 million to $3.4 million in October.

Tennessee Monthly Sports Betting Handle Comparison

• November 2020 handle: $131,444,523
• September 2021 handle: $257,300,000
• October 2021 handle: $375,300,000

Breaking Records

Tennessee is now the fifth-fastest state to pass a $5 billion lifetime handle, despite only having active sports betting market for a year. If November shows even a 6.5% increase in wagers placed on sports, it would result in a $400 million handle.

This places Tennessee among several other high-performing states in the sports betting right now, such as Iowa and Indiana –  both of which also broke their previously set September record high in October.

• Iowa’s October Handle: $280.9 million – 33.5% increase from September.
• Indiana’s October Handle: 461.1 million – 29.7% increase from September.

These massive increases in sports betting handle is likely due to a mixture of 2021 being the first post-COVID-19 NFL season, and the increased awareness of the newly regulated sports betting market in different states across the country.

Tennessee Monthly Sports Betting Revenue Comparison

• November 2020 revenue: $13,244,908
• February 2021 revenue: $13,000,000
• September 2021 revenue: $25,600,000
• October 2021 revenue: $23,300,000

News tags: Tennessee