Tennessee March Sports Betting Handle Up 17%, Tops $200M

Tennessee March Sports Betting Handle Up 17%, Tops $200M
© USA Today

Despite issues in the Tennessee sports betting market, the state saw a nearly 17% increase in March sports betting handle.

Tennessee’s March sports betting handle was $205.9 million, an increase of $29.6 million (16.8%) from February’s $176.3 million, according to official figures posted Friday. The March number fell just below its record of $211.3 million set in January.

The Volunteer State’s gross payouts came in at $187.9 million, an increase of $24.6 million (15.1%) from last month’s $163.3 million. The adjusted gross income registered at $16.1 million, up a significant 23.8% from February.

The state’s privilege tax was $3.2 million, up 23.1% from February’s $2.6 million.

The increases are due in part to a stronger month with March Madness betting, more days to bet and two more operators live in the state — William Hill and TwinSpires.

William Hill launched its online sportsbook in Tennessee on March 11 and TwinSpires went live on March 19, both just in time for March Madness.

The state launched on Nov. 1 as the nation’s first mobile-only sports betting market with four operators — BetMGM, DraftKings, FanDuel and Nashville-based Action 24/7.

Tennessee Sports Betting, March vs. February

Total HandleGross Payouts Privilege Tax
February$176.3M$163.3M $2.6M
Change Up 16.8% Up 15.1% Up 23.1%

Note: Tennessee’s sports betting market is all mobile.

Issues with Tennessee Sports Betting

The state became the first to suspend a sportsbook. Acton 24/7 was suspended on March 18 by the Tennessee Lottery, but the local sports betting company sued to have it overturned.

A court ruling by Chancellor Patricia Head Moskal on March 26 lifted the suspension and the court has since ruled that the lottery board could not hold a new hearing about the alleged incidents involving Action 24/7.

In late March, William Hill ran an alleged prop bet that is against the state sports betting regulations. The lottery said it was following a process to investigate the alleged violation. William Hill took the bet down.

The TEL saw its vice president of sports gaming operations, Danielle Boyd, step down at the end of March. She was the second executive in that job to leave after a short period of time in the role. Boyd told Gambling.com that she is leaving for another job opportunity.

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