Tennessee Sees 16.3% Dip in April Sports Betting Handle
Tennessee sports betting saw a lower handle, payout and privilege tax in April compared to March.
The April sports betting handle for Tennessee came in at $172.4 million, down 16.3% from March’s $205.9 million. The March total was just shy of the state’s sports betting record of $211.3 million posted in January 2021.
The April sports handle put Tennessee over $1 billion in total handle ($1.08 billion) since launching last November.
Gross payouts in April came to $156.9 million, which was down 16.5% from the March total of $187.9 million. Tennessee’s adjusted gross income was a reported $14.4 million, down 12.5% from $16.1 million in March.
The state’s privilege tax was $2.8 million, a decrease of 12.5% from March’s $3.2 million, according to figures posted Tuesday by the Tennessee Lottery.
The lower figures follow the nationwide trend of lower handles and revenue figures being reported for April compared to March. Sports wagering was aided last month by March Madness and the NCAA Tournaments taking place for the majority of the month. The Final Four and national title games were the only college basketball contests to take place in April.
Tennessee Sports Betting, April vs. March
|Total Handle||Gross Payouts||Privilege Tax|
|Change||Down 16.3%||Down 16.5%||Down 10.6%|
Note: Tennessee’s sports betting market is all mobile.
WynnBet Launches in Tennessee
WynnBet couldn’t help the April numbers because it launched on the last day of the month, but Tennessee should see May figures from the Wynn Resorts mobile app. WynnBet and the Memphis Grizzlies, playing in the first round of the NBA Playoffs, had previously announced a sports betting agreement. The deal began on May 10.
There are now seven sportsbooks live in the all-online Tennessee sports betting market. WynnBet joined DraftKings, FanDuel, BetMGM, Action 24/7, TwinSpires and William Hill. The market went live on Nov. 1 with four sportsbooks.
Tennessee Lottery, Action 24/7 Issue Resolved
A dispute between the lottery and a local sportsbook that began in mid-March is over. Action 24/7 Chief Executive Officer Tina Hodges received a letter on May 13 from the lottery’s legal counsel saying the litigation has been resolved. The lottery board approved a resolution at its last meeting.
The state lottery board suspended the sportsbook, Acton 24/7, on March 18, 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.
Action 24/7 remained operational when the injunction was granted.
The lottery is preparing to transition regulatory responsibility to the Sports Wagering Advisory Council, based on new legislation in the state. The legislation gives the advisory council regulatory powers, including adapting rules and taking disciplinary action against a licensee.
During its recent meeting, the lottery determined that peer-to-peer wagering was allowed under the sports betting law.
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