Football always brings a jolt to the legal sports betting states, but in Tennessee it put its sports betting market into a higher gear. In September, the Volunteer State recorded the most monthly action since betting launched in 2020.
Tennessee’s Sports Wagering Advisory Council (SWAC) reported that the state accepted $524.7 million in bets last month, a 52% monthly increase and nearly double July’s action. November 2023 was the only other month to announce a handle of more than $500 million ($517.1 million). Year over year, Tennessee’s handle grew 25%.
After adjustments, the final handle dropped to $520.8 million. But still the massive handle brought huge tax dollars to the state. September’s tax bill reached $9.6 million.
Tennessee growth comparison
Tennessee’s neighbors announce their betting numbers at different times but with Kentucky’s recent August report, we can see the Volunteer State is doing quite well.
From July to August, Tennessee sports betting saw more growth than its neighbors. The Volunteer State enjoyed a 25.7% month-over-month growth. The second-highest was Kentucky at 17.2%, followed by Virginia at 10.3%, and North Carolina with 9%.
From August to September, Tennessee’s 52% increase in action beat North Carolina who also reported an impressive 50% spike in handle.
