Tennessee Sees Increase In Its June Sports Betting Revenue
The Tennessee sports betting market saw an increase in June, reversing a three-month downward trend.
The Tennessee Education Lottery said the all-mobile handle for June was $174.5 million, an 8% increase from May’s number $160.9 million. May’s numbers were down 6.8% from April’s $172.4 million.
The gross payouts in June was $156.2 million and the adjusted gross income was $16.1 million.
The state’s privilege tax was $3.2 million, up from $2.7 million in May, according to the TEL numbers released on Tuesday.
Tennessee Sports Betting, June vs. May
| Total Handle | Gross Payouts | Privilege Tax | |
|---|---|---|---|
| June | $174.5M | $156.2M | $3.2M |
| May | $160.9M | $145.5M | $2.7M |
| Change | Up 8.5% | Up 7.4% | Up 18.5% |
Note: Tennessee’s sports betting market is all mobile.
Tennessee is one of the few states that only has online sports betting.
More Sportsbooks on the Way
It announced at Tuesday’s Sports Wagering Advisory Council meeting that five new operators have submitted applications for a license and three of them have completed the review process. The list of those new operators could be announced later this week.
There are seven sportsbooks currently live in the all-online Tennessee sports betting market: WynnBet, DraftKings Sportsbook, FanDuel Sportsbook, BetMGM, Action 24/7, TwinSpires and William Hill.
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