Feb 18, 2022 - Business

Super Bowl brings big betting to Tennessee

Los Angeles Rams quarterback Matthew Stafford throws a touchdown pass during the Super Bowl.
Los Angeles Rams quarterback Matthew Stafford throws a touchdown pass during the Super Bowl. Photo: Albert Cesare/The Enquirer/USA Today Network

The Super Bowl generated $23.1 million in legal sportsbook betting, according to PlayTenn, which tracks the Tennessee gaming market.

  • Sportsbook operators won $3.4 million on those Super Bowl bets.

Why it matters: Last year's Super Bowl drew $15 million in bets, another demonstration of the incredible growth of legal sports betting in Tennessee.

Details: This news comes on the heels of a record month for sports gambling in Tennessee. January saw the state's eight sportsbooks accept $386.1 million in wagers, breaking the previous record of $375.3 last October.

  • "The Super Bowl is always going to bring significant action, but five weekends of football in January that included an extra week of the NFL’s regular season and an expanded playoff was a particular boon for sportsbooks," said Alec Cunningham, an analyst for PlayTenn.com.

By the numbers: The Tennessee Education Lottery receives 80% of sports gambling tax revenue, used to fund scholarships and grants for students.

  • Local governments receive 15% for roads and other infrastructure projects.
  • The remaining 5% goes to state-funded gambling addiction programs overseen by the Tennessee Department of Mental Health and Substance Abuse Services.
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