- According to a monthly report released by the Tennessee Sports Wagering Review Council, sportsbooks in Tennessee saw increases in handle, revenue, and tax contributions in March.
- March marks the sixth consecutive month Tennessee surpassed $300M in handle, and the seventh consecutive month Tennessee surpassed $20M in revenue and $4M in taxes paid.
NASHVILLE, Tenn. – Tennessee’s sportsbooks had another strong month in March, according to a new report by the Tennessee Sports Wagering Review Council.
Tennessee Sportsbook Handles, Revenue, Tax Contributions Up In March
According to the report, Tennessee’s sportsbooks handled a combined $370.2 million in wagers during March.
This marks the sixth consecutive month in which Tennessee sportsbooks handled at least $300 million in wagers. March’s $370.2 million total handle also represents an over $50 million increase from February’s figures.
From a revenue standpoint, sportsbooks in Tennessee generated $22.8 million, surpassing the $20.9 million mark from February.
March also marks the seventh consecutive month that Tennessee’s sportsbooks generated at least $20 million in sports betting revenue.
As a result of March’s $22.8 million revenue figure, sportsbooks contributed $4.6 million in taxes to Tennessee’s coffer.
This surpassed February’s tax contribution of $4.2 million and marked the seventh consecutive month with at least $4 million in sports betting tax contributions.
Financial Figures Likely To Remain Solid In April
Heading into April, Tennessee’s sports betting financial figures are likely to stay strong, in no small part due to the Memphis Grizzlies’ NBA playoff success.
The Grizzlies ended the regular season with a 56-26 record, and are currently tied 2-2 with the Minnesota Timberwolves in the first round of the Western Conference playoffs.
The Grizzlies are (-350) betting odds favorites to win the series against the Timberwolves and advance to the next round of the NBA playoffs at legal sports betting sites. Star guard Ja Morant currently holds the sixth-shortest betting odds (+1200) to win the 2022 NBA Finals MVP.
Jerad has been a welcomed addition to the LegalSportsBetting.com writing team. Covering topics regarding the expansion of sports betting in the US, Jerad focuses on legislative efforts, bill signings and other methods for sports betting legalization. Finishing his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, paired with years of personal sports betting as well. As a political science major at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports gambling without any issues.