- Tennessee sportsbooks reported $386,059,756 in betting handle for January 2022, beating the previous record set in October.
- Sportsbooks also saw $29,087,518 in sports betting revenue.
NASHVILLE, Tenn. – Sportsbooks in Tennessee set a new record for monthly betting handle with $386,059,756 wagered in January 2022. This is a boom from the $341.8 million reported in December 2021.
The local legal sports betting market saw an added boost from NFL wagers thanks to the Tennessee Titans’ strong play late in the season.
Super Bowl futures bets led to the big increase in wagers, leading to the previous record of $375,300,000 set in October 2021 being beaten by over 2.9%.
The TN sports betting data report also showed $29,087,518 in revenue, beating the October numbers of $23,300,000. Sportsbooks saw $16.5 million in revenue in December, leading to an 81.5% increase month over month.
The increase in sports betting revenue led to a bump in tax revenue with the state collecting $5,817,504 in privilege tax.
Tennessee Continues The Trend
Tennessee joins the likes of New Jersey, Pennsylvania, and New York who have all set their single-month sports betting record in January. This is all mainly attributed to the NFL season as this was the most wagered football season in history.
The Tennessee sports betting market is mobile-only and shows how successful mobile sports betting continues to be in the US.
In NJ, NY, and Pennsylvania more than 90% of their wagers come in from mobile sports betting. Louisiana just recently launched mobile betting and managed to set its single-month record in January as well with a bulk of the bets coming from mobile books.
Tennessee having mobile-only options and still managing to thrive is just another example that sports bettors prefer to wager online.
With the Super Bowl numbers counting in February, it is possible that Tennessee will break this record set again. Sportsbooks already reported a 50% handle growth on Super Bowl bets in February. The Sports Wagering Advisory Council (SWAC) stated that the betting handle is up 49.8% on Super Bowl bets.
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.