Sports Betting Revenue Numbers In Tennessee Drop In July

Sports Betting Revenue Numbers In Tennessee Drop In July
© USA Today

One month after seeing an uptick in Tennessee sports betting, July’s numbers were a big drop.

The Tennessee Education Lottery reported all-mobile handle in July was $144.6 million, down from $174.5 million in June, a 17.2% decrease.

The gross payouts of $129.4 million in July were down 17.2% from the $156.2 million in June.

The state’s privilege tax was $2.6 million and that was down from the $3.2 the month before, according to the TEL numbers released on Wednesday.

July is one of the slowest sports months of the year for sports betting. In many states, it fell 20% or more compared to June and Tennessee was pretty much in line with that.

The Lottery said the state has taken in more than $1.5 billion since launching sports betting in November 2020.

Tennessee Sports Betting, July vs. June

Total HandleGross Payouts Adj. Gross Income
June$174.5M$156.2M $16.8M
Change Down 17.2% Down 17.2% Down 16.8%

Tennessee is one of the few states that only has online sports betting.

More Sportsbooks To Be Approved

Tennessee should have at least three new sportsbooks in the coming weeks, the TEL announced at Tuesday’s Tennessee Sports Wagering Authority Council meeting. No names were announced.

Tennessee currently has seven sportsbooks: WynnBet, William Hill/Caesars, FanDuel, TwinSpires, Action 24/7, BetMGM and DraftKings