- Tennessee saw $172.4 million in sports betting activity in April.
- This is a 16.3% decrease month over month.
- WynnBet launched in Tennessee in April, making it a total of seven active sportsbooks in the state.
NASHVILLE, Tenn. – Sports betting fans in Tennessee wagered for $172.4 million in April, marking a slight decrease in betting activity month over month.
Tennessee sports betting joined the likes of Colorado, New Jersey, Pennsylvania, and more in the decline of sports betting in April.
With the end of college basketball and the March Madness Tournament, it is understandable why these markets have all seen declines in activity.
Tennessee Sports Betting
The sports betting report released by the Tennessee Education Lottery may have shown a 16.3% decline in overall activity compared to the $205.9 million in March, but the Volunteer State still had a solid month.
Tennessee sportsbooks collected $14.4 million in sports betting revenue with the state seeing $2.8 million in taxes.
Tennessee did launch WynnBet through a partnership with the Memphis Grizzlies, bringing their total to seven active mobile sportsbooks in the state.
“With the importance of a digital-first approach, partnering WynnBET with our Grind City Media shows, content and features was a very organic framework for building this forward-looking partnership,” said Jason Wexler, Grizzlies Team President. “We also enjoy any opportunity to create new and different spaces to experience inside FedExForum for our fans, and we love the thought of being a destination in downtown Memphis for sports fans to watch their favorite sports programming year-round.”
Tennessee is a mobile-only market, so the addition of more mobile sportsbooks should only have a positive impact on the overall betting activity going forward.
Sports betting is expected to see an increase in activity with the NBA Playoffs progressing. The Memphis Grizzlies made the playoffs, which will surely see a lot of local fans placing heavy action on their team.
While the trend of legal sports betting dips in April continues, things are expected to turn around greatly moving forward in Tennessee.
Coming from a background in narrative-based writing, Giovanni strives to write stories that will keep the reader engaged. Although he does pride himself in being accurate, how the story is told is also very important to him. When he’s not keeping readers up to date on sports betting laws and legislation, you can find him writing and recording music, playing videogames, or engaged in heated sports debates with his friends.