Tennessee July sports betting handle reaches $145m
Tennessee sportsbooks reported July handle of $145, a 17.2% decline from June and the state’s lowest handle since its first month of operation in November 2020.
Tennessee’s exclusively online sports betting market struggled to attract bettors to summer sports. Unlike many of its surrounding states, Tennessee lacks a MLB team, making the Volunteer State somewhat of a sports desert in July.
Gross gaming revenue for the month was $15.1m, down 17.1% from June. Sports betting generated $13.4m in taxable revenue.
“All in all, the summer has gone well for Tennessee’s sportsbooks,” said Nicole Russo, analyst for PlayUSA Network. “An increased win percentage for sportsbooks has helped make up for the loss of volume. In the slower months that’s exactly what operators are hoping to see.”
Tennessee’s low July handle followed a national trend that saw sports wagers slip during the seventh month of the year.
In a state like Tennessee where NFL and college sports is king, sportsbooks have to accept that summer months will be considerably slower than the fall, winter and spring.
The good news for Volunteer State operators is that the Tennessee Titans returned to action in August with preseason NFL games. The Titans host their first preseason game August 28 against the Chicago Bears and begin the regular season September 12 with a home game against the Arizona Cardinals.
Sportsbooks will also benefit in August from the return of college football. Though the Tennessee Volunteers don’t kick off their season until September 2, plenty of bettors will be putting in futures and Week 1 wagers ahead of next month.
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