{"id":10495,"date":"2025-02-19T13:32:04","date_gmt":"2025-02-19T13:32:04","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/?post_type=america&#038;p=10495"},"modified":"2025-02-19T13:32:04","modified_gmt":"2025-02-19T13:32:04","slug":"tennessees-sports-betting-handle-surpasses-500-million-for-five-straight-months-setting-new-records","status":"publish","type":"america","link":"https:\/\/www.mundovideo.com.co\/en\/america\/tennessees-sports-betting-handle-surpasses-500-million-for-five-straight-months-setting-new-records\/","title":{"rendered":"Tennessee\u2019s sports betting handle surpasses $500 million for five straight months, setting new records"},"content":{"rendered":"\n<p>Tennessee\u2019s sports betting market continues its upward trajectory, recording over $500 million in monthly handle for five consecutive months from September 2024 to January 2025. This sustained growth marks a major milestone, reflecting broader national trends in the booming sports betting industry.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Tennessee\u2019s record-breaking handle<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"659\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/02\/tennessees-sports-betting-handle-surpasses-500-million-for-five-straight-months-setting-new-records2-1024x659.jpg\" alt=\"\" class=\"wp-image-10497\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/02\/tennessees-sports-betting-handle-surpasses-500-million-for-five-straight-months-setting-new-records2-1024x659.jpg 1024w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/02\/tennessees-sports-betting-handle-surpasses-500-million-for-five-straight-months-setting-new-records2-300x193.jpg 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/02\/tennessees-sports-betting-handle-surpasses-500-million-for-five-straight-months-setting-new-records2-768x495.jpg 768w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/02\/tennessees-sports-betting-handle-surpasses-500-million-for-five-straight-months-setting-new-records2-1536x989.jpg 1536w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2025\/02\/tennessees-sports-betting-handle-surpasses-500-million-for-five-straight-months-setting-new-records2.jpg 1980w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>During this period, the state\u2019s betting handle remained strong:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>September 2024<\/strong> \u2013 $520,834,560<\/li>\n\n\n\n<li><strong>October 2024<\/strong> \u2013 $547,764,023<\/li>\n\n\n\n<li><strong>November 2024<\/strong> \u2013 $594,387,437 (all-time high)<\/li>\n\n\n\n<li><strong>December 2024<\/strong> \u2013 $569,849,216<\/li>\n\n\n\n<li><strong>January 2025<\/strong> \u2013 $543,646,737<\/li>\n<\/ul>\n\n\n\n<p>Before this streak, Tennessee had only surpassed the half-billion mark once, in November 2023. The sustained increase highlights the state&#8217;s growing betting activity and aligns with national expansion trends in the sports betting industry.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.mundovideo.com.co\/landing\/multigame-link\/\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"340\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1.png\" alt=\"\" class=\"wp-image-9725\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1.png 1000w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1-300x102.png 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1-768x261.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/figure>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Record tax revenue from Tennessee\u2019s betting boom<\/strong><\/p>\n\n\n\n<p>Tennessee\u2019s sports betting tax revenue also saw historic highs, with the state collecting over $10 million in Privilege Taxes for four out of the last five months. The only exception was September, which narrowly missed the threshold.<\/p>\n\n\n\n<p>Since July 2023, Tennessee has applied a <strong>1.85% tax on total handle<\/strong>, replacing the previous <strong>20% tax on adjusted gross revenue<\/strong>. The monthly tax revenue figures are as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>September 2024<\/strong> \u2013 $9,612,392<\/li>\n\n\n\n<li><strong>October 2024<\/strong> \u2013 $10,109,043<\/li>\n\n\n\n<li><strong>November 2024<\/strong> \u2013 $10,969,178<\/li>\n\n\n\n<li><strong>December 2024<\/strong> \u2013 $10,516,365<\/li>\n\n\n\n<li><strong>January 2025<\/strong> \u2013 $10,032,973<\/li>\n<\/ul>\n\n\n\n<p class=\"has-medium-font-size\"><strong>What\u2019s driving Tennessee\u2019s sports betting surge?<\/strong><\/p>\n\n\n\n<p>Unlike other markets experiencing growth through new retail sportsbooks or casino expansions, Tennessee\u2019s increase comes despite <strong>having no physical casinos or retail sportsbooks<\/strong>. The entire betting market is online, with <strong>11 active sportsbooks<\/strong> operating in the state.<\/p>\n\n\n\n<p>As of February 2025, Tennessee&#8217;s sports betting market features 11 active online sportsbooks:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>BetMGM<\/strong><\/li>\n\n\n\n<li><strong>FanDuel<\/strong><\/li>\n\n\n\n<li><strong>DraftKings<\/strong><\/li>\n\n\n\n<li><strong>Caesars Sportsbook<\/strong><\/li>\n\n\n\n<li><strong>Fanatics Sportsbook<\/strong><\/li>\n\n\n\n<li><strong>Hard Rock Bet<\/strong><\/li>\n\n\n\n<li><strong>ESPN BET<\/strong><\/li>\n\n\n\n<li><strong>Betly<\/strong><\/li>\n\n\n\n<li><strong>ZenSports<\/strong><\/li>\n\n\n\n<li><strong>Action 24\/7<\/strong><\/li>\n\n\n\n<li><strong>Wagr<\/strong><\/li>\n<\/ol>\n\n\n\n<p class=\"has-large-font-size\">These platforms offer a range of betting options for users within the state. It&#8217;s important to note that Tennessee&#8217;s sports betting is conducted exclusively online, as the state does not permit retail sportsbooks or casinos.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/www.mundovideo.com.co\/landing\/multigame-link\/\" target=\"_blank\" rel=\" noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"340\" src=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1.png\" alt=\"\" class=\"wp-image-9725\" srcset=\"https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1.png 1000w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1-300x102.png 300w, https:\/\/www.mundovideo.com.co\/en\/wp-content\/uploads\/sites\/2\/2024\/11\/ice-london-termino-y-se-despidio-la-feria-en-imagenes-mgl-1-768x261.png 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/figure>\n\n\n\n<p>The surge also coincides with record-breaking national trends. In November 2024, the U.S. sports betting market reported its <strong>highest-ever monthly revenue<\/strong>, up <strong>21.3% from November 2023<\/strong>, fueled largely by the NFL season. According to the <strong>American Gaming Association (AGA)<\/strong>, total gaming revenue\u2014including traditional casino gaming, sports betting, and iGaming\u2014<strong>reached $6.65 billion<\/strong> in November, with new all-time highs for iGaming and sports betting.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.mundovideo.com.co\/en\/opinion\/alabamas-gambling-ban-is-a-gift-to-criminals-and-a-blow-to-the-economy\/\">Alabama\u2019s Gambling Ban is a Gift to Criminals and a Blow to the Economy<\/a><\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Tennessee sports betting outlook for 2025<\/strong><\/p>\n\n\n\n<p>With a robust tax structure, growing sportsbook engagement, and national market expansion, <strong>Tennessee\u2019s sports betting momentum is expected to continue into 2025<\/strong>. If trends hold, the state could set new records in both handle and tax revenue in the coming months.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>Major highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tennessee\u2019s sports betting market sustained <strong>five consecutive months<\/strong> with more than <strong>$500 million in wagers<\/strong>.<\/li>\n\n\n\n<li><strong>November 2024<\/strong> set a new benchmark, approaching <strong>$600 million in total bets<\/strong>.<\/li>\n\n\n\n<li>The state generated <strong>over $10 million in tax revenue<\/strong> in four of the past five months.<\/li>\n\n\n\n<li>Tennessee\u2019s sports betting industry remains <strong>fully digital<\/strong>, with <strong>no brick-and-mortar casinos or retail sportsbooks<\/strong>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Unlike other markets experiencing growth through new retail sportsbooks or casino expansions, Tennessee\u2019s increase comes despite having no physical casinos or retail sportsbooks<\/p>\n","protected":false},"author":1,"featured_media":10498,"menu_order":132,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[1458,105,4836],"class_list":{"0":"post-10495","1":"america","2":"type-america","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-america","8":"tag-sports-betting","9":"tag-tennessee","10":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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