April 26, 2021 Sports Betting, Online, Land-Based

Tennessee March sports betting handle reaches $206m

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Tennessee sportsbooks recorded handle of $206m in March, up 17% from the prior month.

Adjusted gross income was $16.1m, above $13m in February and below the state’s record haul of $21.8m in January. Tennessee collected $3.2m in state taxes.

Tennessee sportsbooks have recorded more than $900m in wagers since the state launched online sports betting in November.

The Volunteer State market expanded in March with the additions of William Hill and TwinSpires. They join DraftKings, FanDuel, BetMGM and in-state startup Action 24/7.

Action’s license was temporarily by the Tennessee Lottery in mid-March upon reports of fraud, money laundering and illegal proxy betting on its platform.

Within a week of suspension, the David County Chancery Count reinstated the sportsbook and later denied the Tennessee Lottery a hearing on the operator’s fraud allegations.

However, Action missed out on the opening weekend of March Madness, one of the most active stretches of the American sports calendar. Action’s inactivity during the NCAA Tournament undoubtedly dragged down the state’s overall handle for March.

With college basketball and football in the rear view mirror, Tennessee sports bettors will likely turn their attention to the NHL’s Nashville Predators and the NBA’s Memphis Grizzlies. Both are in contention to make the postseason in their respective leagues.

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