In December players in Tennessee spent $493,3m ($493,3m) (PS387.9m/EUR450.5m), an increase over last year. However, it was a decline month-over-month from the record set in November.
In December, the gross handle was higher by 12.0% than it had been in November 2023. It was still 4.3% below the $515.5m record wagered by November 2023.
In fact, the month of November marked the first time that wagering in Tennessee exceeded $500.0m. In November 2020, the state will open its legal betting market.
When adjusted, the gross bets totaled $495.1m.
Tennessee’s gross handle in December increased by 12.4% compared to November, but was still 4.3% below the $517.1m reported in November.
Top operators in Tennessee
Tennessee generated $9.1m of privilege tax through sports betting during this month. Tennessee Sports Wagering Council published figures, but they did not contain revenue data.
When the market was launched in just under three years, several leading operators were already live. Since the market’s launch, FanDuel DraftKings, and BetMGM all accept bets on a variety of sports.
Tennessee’s market has grown over the past few years with more and more operators entering in recent years.
Fanatics Sportbook is one of those that went live within the last two years. It was launched in August, 2013. As part of its overall growth strategy, the company also launched in Maryland Massachusetts and Ohio.
ESPN Bet was also launched in Tennessee, in November 2023. This was also part of an extensive multi-state rollout, as the brand went live in 17 different states.
Hard Rock was launched in Tennessee, in 2022. Hard Rock Bristol Casino, located in Virginia overstated the state of Tennessee. The Hard Rock Cafes were already open across the entire state.
Caesars Sportsbook also offers sports betting services in Tennessee. The partnership between the NBA Memphis Grizzlies and Caesars Sportsbook, which was agreed on in August of 2022 for a period exceeding five years, makes this possible.