Jan 5, 2022 - Business
Tennessee sets new sports betting record for revenue
Tennessee sportsbooks have set monthly revenue records in each of the last three months, culminating in nearly $40 million generated in a football-fueled November.
Why it matters: Sports gambling became legal last year and has increased in popularity during this football season.
- Eric Ramsey, an analyst for the PlayUSA.com network, said in a report it's difficult to imagine a better season than the one Tennessee sportsbooks have enjoyed.
By the numbers: Overall wagering fell slightly to $365.7 million in November - down from $375.3 million the previous month.
- November bets rose 178% year over year.
- Tennessee received $5.9 million in tax revenue. The state receives 20% of net operator revenue, which has generated $41.4 million since November 2020.
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