The monthly amount of sports betting in Tennessee hit another new high in November, according to the latest numbers from the state regulator.
Tennessee’s Sports Wagering Advisory Council (SWAC) reported recently that the state’s online sports betting sites handled approximately $439.5 million in wagers during November, a new record as it topped the previous high in October of $405.3 million. Last month's handle also bested that of November 2021, when wagering added up to $365.7 million.
The record wagering last month might be due in part to the highly anticipated college football game that the Tennessee Volunteers played, and ultimately lost, against the Georgia Bulldogs on November 5.
Tennessee sports wagering numbers for November - pic.twitter.com/rmH2KHURRo
— Mary Beth Thomas (@MBT37215) December 15, 2022
After paying out around $392.2 million in winnings to players last month, gross revenue for operators was $47.2 million, or a hold of about 10.8%. In October, gross income from legal sports betting in the state stood at around $37.3 million and the win rate was 9.2%.
What’s more, after making almost $2.1 million in adjustments, the adjusted gross income earned by operators last month in Tennessee was almost $45.2 million. Tax assessed on operators as a result was $9 million. Both numbers topped October’s haul of $34.8 million in adjusted revenue and about $7 million in tax.
There are 13 licensed online sportsbooks in Tennessee, although one is the now-defunct Fubo Sportsbook.
