Tennessee Sports Betting Seeing More Growth
The state of Tennessee officially launched sports betting in November 2020, and the state was setting records nearly every month at that time. Tennessee planned the launch during the NFL season that year, and sportsbooks were shattering handle records each month.
Things slowed down in Tennessee for a bit, and the Tennessee Education Lottery was not helping as the governing body. That role has now shifted to the Sports Wagering Advisory Council and there has been plenty of growth since January 1, 2022.
A new sportsbook just launched in the state, and a couple of others are on the way. Tennessee had just five mobile sportsbooks for a long time, but that number will soon be up to 12. All of the sports betting in Tennessee continues to be done online as this is a state without any casinos.
SuperBook App Up and Running
The SuperBook Sportsbook app is now available in Tennessee, and this launch provides bettors in the state with another terrific option. This launch took place on April 27, and it did so without much notice or fanfare.
The SuperBook Sportsbook is one of the most popular options on the Las Vegas strip, and it wasn’t until recently that it started to expand into other states. Tennessee is now the fifth state with the SuperBook, and more expansion could be on the way.
The Sports Wagering Advisory Council approved the SuperBook and two other sportsbooks right around the same time. Betly and Bally Bet were the other two companies to receive a license, but neither of those sites have launched at this time.
The SuperBook Sportsbook app is available for download on both Android and iOS devices, and it will bring its famous NFL contest to the Volunteer State later this year. May will be the first full month of operation for the SuperBook and that month’s sports betting report will detail how well the launch has been received.
March Was Big For Sportsbooks
The most recent sports betting report from Tennessee came from March, and that was a big month for sportsbooks in the state. March is always a big month for the entire industry as the NCAA Men’s Basketball Tournament is a big hit at the sportsbooks.
The total sports betting handle for the month of March was $370.2 million, and that was a huge jump from the disappointing total in February. The handle increased by more than 18 percent, and it was also a jump of close to 80 percent from the March 2021 numbers.
Tennessee was able to bring in $4.6 million in privilege tax from the big month of March, and that number had been trending in the wrong direction before the big bounce back. As new sportsbooks continue to launch in Tennessee, the handle should continue to grow as each sportsbook will offer a big bonus to new customers.