Tennessee has now joined a growing list of legal sports betting states that have posted record numbers for the month of January at their domestic sportsbooks.
TN sports betting collections for January were the best ever in for overall handle, and much of the action can be attributed to betting on the NFL Playoffs as well as the CFP Championship Game on the 10th of that month.
Tennessee Sports Betting Intake For January 2022
- Sports Betting Handle: $386,059,756 (All-Time High)
- Sports Betting Revenue: $36,249,453
- Hold Percentage: 9.39%
- Sports Betting Tax Collections: $5,817,504
Legal sports betting in Tennessee has been active domestically since November of 2020, and the biggest month of business so far did not result in record totals for revenue and tax collections. That’s most likely due to the house securing a lower percentage of winning bets over that cycle.
The state-by-state sports betting revenue report reveals an upward trend nearly across the board with a major uptick beginning around September of 2021 when the NFL season began.
Tennessee is one of the few states that only offer mobile sports betting, as most regions that allow for one method seem to prefer in-person venues. The Volunteer State is also one of the few that allow for domestic sports betting to begin at 18 years of age, whereas most regions require a minimum age of 21 to partake.
At the moment, there are nine domestic sportsbooks in Tennesee that are approved to accept wagers on sports over web-ready devices:
- BetMGM
- DraftKings
- FanDuel
- Caesars
- Bally Bet
- Zen Sports
- BetRivers
- SuperBook
- Gamewise
- Wagr
- PointsBet
- Fubo Gaming *Not Yet Launched
While it would seem like an increase should be expected for February’s revenue reports because of Super Bowl betting and the rising trend of financial data across the board in the USA, the second half of the month is typically dry following the big game.
Action should be picking back up soon as March Madness betting begins next week and the Tennessee Volunteers are expected to be one of the 68 teams participating.
While Tennessee gamblers may be tempted to bet on college basketball with a domestic vendor, consider opting for an offshore sportsbook that we recommend here at SBL.
Offshore sportsbook sites offer Tennesee bettors several more options for prop bets on major pro and college sports, as well as entertainment betting odds.
Betting on political election outcomes is also an exclusive for offshore sports betting sites, as well as the acceptance of cryptocurrencies like Bitcoin (BTC), Ethereum, Litecoin, Tether, Cardano, and more.
Domestic betting apps in Tennessee are restricted to the use of the US dollar, but don’t go looking for any March Madness prop bets. Why? State law forbids prop bets on college athletes and their statistical performances.
Guess who does allow for team and player college basketball prop bets for stats? Once again, offshore sportsbooks for the win, and they also feature exclusive prop builder apps that bring all of those propositions into one screen for ease of parlay creation.
Again, don’t take our word for it. We invite our readers to scan through the options presented at domestic vendors in Tennessee with the betting opportunities presented at the international gambling sites we endorse for further evidence of the wider variety of wagering choices available offshore.
