Tennessee is a very young sports betting market, only running for 2 months. But even in its infancy, the market is doing well, as the Tennessee sports betting market shows a rise in its betting handle. Given that its only bookie software that you will see taking bets in the state, it also tells you how mobile and online sports betting is a boon to any gambling market.
The state of Tennessee is the first mobile-only sports betting market, doing away with brick and mortar sportsbooks. This means that for residents, they only need to find the right sportsbook software, and they can sign up and place their bets from anywhere within the limits of the state. Its not that the state is missing out on retail betting though. Other states that offer both retail and online betting show a large majority of bettors placing bets online instead of retail sportsbooks.
Tennessee Sports Betting Market
Let’s take a look at the numbers of the state for December 2020, the second month of the betting market in Tennessee. The total handle for the month is $180.9 million. This is 37.7% higher than November’s $131.4 million handle. The gross payouts are at $167 million. This is 41% higher than November’s $118.2 million. The privilege tax of the state is $3.1 million, which is 29.2% higher than the previous month’s $2.4 million.
An eager betting market is of course the main driver in getting such good numbers. For those who are wanting to get into the market, there are some good pay per head sportsbook reviews that can help you. It also helps knowing the local market’s preferences. For instance, the Tennessee Titans stayed pretty long into the NFL season, not to mention the Grizzlies and the Predators activity last month. The local industry is expected to grow with the addition of more licensed sportsbooks, as well as a growing number of bettors who will be discovering the betting market in the next few months.