Tennessee entered the sports betting space in the United States fairly early with the state becoming the 10th US jurisdiction to authorize the vertical. On Monday, the Sports Wagering Advisory Council, which collates data from the industry, reported that the state accepted $182.8 million in bets across the month of July.
Tennessee’s July Results Satisfactory
The Volunteer State has 13 mobile and online sportsbooks presently, giving locals a good variety of markets to choose from. The year-over-year results continued to improve. Revenue for the state stood at $18.3 million during July and Tennessee itself claimed some $3.7 million in tax revenue based on this amount.
Tennessee though can improve the way it discloses information as the Sports Wagering Advisory Council keeps numbers pretty close to the chest when it comes to breaking down individual performance by operators. Handle and revenue figures by the operators are usually not featured in the final accounts.
The report detailed gross payouts of $164.6 million and adjusted gross income of $18,344 along with $3,668 in privilege tax assessed. Since Tennessee legalized sports betting, the Volunteer State has been able to process a total handle of $5.07 billion.