Tennessee March Sports Betting Handle Up 17% Despite Controversy

Spread the Word:

Despite embroiling in one of the biggest controversies in US sports betting history in March, Tennessee sports betting posted a remarkable handle of $206 million. According to the latest figures released Friday by the Tennessee Education Lottery Corporation (TEL), the March handle saw a nearly 17% increase from February’s $176.3 million.

It was the first time that the NCCA tournament coincided with the Tennessee sports betting market. March also touched almost the Volunteer State’s record handle of $211.3 million set in January, since the regulated market went live last November.

Revenue Details

The state’s gross payouts for the month were $187.9 million, which was up 15% from February’s $163.3 million. The adjusted gross income came in at $16.1 million, representing a 23.8% increase from February.

Volunteer State drew $3.2 million in privilege tax, which is 23.1% more than February’s $2.6 million.

Several reasons were responsible for the rebound in Tennessee sports betting, including March Madness wagering, three additional days in March, and two more operators- William Hill and TwinSpires that went live in the month.

Caesars Entertainment-owned William Hill launched in the Volunteer State on March 11. TwinSpires, a subsidiary of Churchill Downs, began its operations on March 19. Both companies were in time to take bets for March Madness.

Tennessee Sports Betting, A Shock Absorber

Tennessee sports betting remained almost unaffected by one of the biggest controversies in US sports betting history that came to light last month.

The Volunteer State launched in November with the country’s first online-only sports market with four operators- FanDuel, DraftKings, BetMGM, and Nashville-based Action 24/7.

On March 18, Tennessee sports betting saw the first-ever suspension of any sportsbook in the US when the Tennessee Lottery froze the Action 24/7’s license. However, the state bettors did not allow that incident to affect the overall sports betting activity. March numbers were also the second time since launch that the Volunteer State topped $200 million.

 Overall, so far more than $900 million has been wagered in Tennessee sports betting since November. The Volunteer State’s March handle pushed the accumulative US sports betting handle to over $50 billion since June 2018.

Why Did TEL Suspend Action 24/7?

The Tennessee Lottery Board suspended the locally owned Action 24/7’s license indefinitely after finding illegal activities including money laundering, credit card fraud, and illegal proxy betting on its platform.

However, days later, a Nashville judge ordered the TEL to reinstate Action 24/7’s sports betting license in a temporary injunction, which came after the judge found the lottery acted “erroneously” throughout the process leading to the sportsbook’s suspension.

It came after Action 24/7 filed a lawsuit against the TEL officials on March 22 in an attempt to reverse the suspension.

The temporary injunction found that the suspended sportsbook clearly showed the likelihood that its rights were being violated.

Related News

Maine sports betting
July 22, 2021

Maine Sports Betting Misses 2021 Despite Serious Efforts

Maine sports betting is not coming this year too despite significant developments that saw the legislation passing through most of the stages. The state’s 2021 legislative session adjourned Monday, with […]

read more
May 14, 2021

Illinois Sports Betting Posts Record $633.6M in March Handle

Illinois sports betting finally topped the $600 million handle mark, thanks to March Madness, an additional sportsbook, and mobile registration. The Prairie State is the last one to report its […]

read more
Chicago skyline
August 7, 2021

Illinois Sports Betting Touches Highest-Ever Revenue Despite Dip in June Handle

Despite posting the lowest handle this year, and slipping to the third position in US sports betting, Illinois touched the highest revenue with $47.5 million in June. The state’s sportsbooks […]

read more
Richmond, Virginia
May 16, 2021

Virginia Sports Betting Tops $300M Handle In March

In its second-full month, Virginia sports betting topped $300 million in March handle after its online-only sports betting launched on January 21. The March Madness swelled the number, making up […]

read more
Las Vegas sign
June 22, 2021

Several Nevada Casinos Remain Closed Despite Lifted Restrictions

Several Nevada casinos remain closed for more than a year and some may never open their doors to visitors despite the state’s full reopening on June 1. As of June […]

read more
Rhode Island
May 15, 2021

Rhode Island Posts $38.6M In March Sports Betting Handle

March Madness fever also engulfed Rhode Island sports betting, which saw a 13.1% increase in its handle to $38.6 million in March. February had brought in $34.1 million in sports […]

read more
New Jersey sports betting April
May 23, 2022

NJ Sports Betting Grows 24% Despite NY Launch

New Jersey sports betting has seen nearly 24% growth, refuting the earlier calculations that the NY market would eclipse it. According to the official report released Monday, New Jersey sportsbooks […]

read more
Chicago skyline
July 8, 2021

Illinois Sports Betting Remains No.2 Despite Return to In-Person Registration

Despite returning to in-person registration, Illinois posted more than $500 million in May handle to maintain its second position in the US sports betting. New Jersey is the top market […]

read more
DC sports betting
July 20, 2021

DC June Sports Betting Handle Increases 42% Amid Controversy Surrounding Intralot

Washington DC sports betting saw a nearly $42 increase in June handle amid an audit report raising issues with the DC Lottery’s no-bid contract with Intralot. BetMGM also launched in […]

read more
December 21, 2020

Iowa Sports Betting Revenue Falls in November Despite Record-Setting Handle

This November brought contagious effects for sports betting in Iowa, who saw a record-setting handle of $87.2 million. Earlier, New Jersey and Indiana also reported record-shattering sports betting handles for […]

read more
Live! Casino
November 12, 2020

Maryland Posts $142M Casino Revenue Despite 50% Capacity

Despite a 50% operational limit due to the coronavirus, Maryland reported $142.7 million in gaming revenue in the month of October. Combined revenue at Maryland’s six casinos last month was […]

read more
Nevada landscape
March 26, 2021

Nevada Maintains 2nd Position in US Sports Betting Despite Dipping Handle

Nevada joined other sports betting states to record a below-average performance in February, with a handle dipping to $554 million, the lowest since August 2020. According to the official figures […]

read more

Stay Updated & Receive Exclusive Offers

Be the first to know when new states legalize online gambling and gain access to exclusive casino and sports betting promotional offers.