Tennessee market bounces back in March as gross wagers hit $473.6m

The monthly total was some way ahead of the $392.7m wagered in Tennessee in March last year. It was also 25.2% more than the $378.2m spent by players in February of this year.

However, the March total was some way short of the record in Tennessee. Players wagered an all-time monthly high in November 2023.

After taking into account $1.6m in adjustments, gross handle for Tennessee in March was $472.0m.

In terms of privilege tax from sports betting, the state collected a total of $8.7m. This was up 24.8% from February’s $7.0m but 0.5% down on the previous year, despite the handle rise.

The Tennessee Sports Wagering Council does not publish data regarding monthly revenue, nor any information on individual operator performances.

Who is active in Tennessee?

While data on Tennessee is limited, the Volunteer State does feature some of the leading names in US sports betting. BetMGM, FanDuel and DraftKings have all been active since the state opened its legal market in November 2020.

One of the most recent additions is Fanatics Sportsbook, which went live in August last year. ESPN Bet is also a relative newcomer, rolling out its brand last November as part of a wider launch across 17 states. 

Other brands active in the state include Hard Rock Bet, which launched in Tennessee in September 2022. In addition, Caesars Sportsbook runs sports betting via a multi-year partnership with Tennessee-based NBA team Memphis Grizzlies.