Tennessee Took In $572 Million from Online Sports Betting in December
December was a very profitable month for sports betting operators in Tennessee. $572.7 million was wagered in sports in the Volunteer State in Dec 2024.
December was the second-best month for TN sports bets.
Key Facts:
- $572.7 million was wagered on sports in Tennessee via sportsbooks in December
- December 2024 was the second-highest total for wagers accepted on sports in Tennessee
- $10.5 million in taxes were gathered from sports betting activity in December
December was the second-best month for sports betting in Tennessee history, based on total handle (also known as gross wagers), which measures the amount in dollars that are bet. The Tennessee Sports Wagering Council (SWC) reported a whopping $572.7 was bet on sports via licensed sportsbooks in TN in December 2024.
According to state officials, the December 2024 total for wagers on sports in Tennessee was roughly $77 million more than what was bet in the same month in 2023. The record was established in November 2024, with $598.6 million.
Sportsbooks in Tennessee have accepted more than $1 billion in wagers in the last two months, going back to November of 2024. Tennessee had a 16.1% increase in gross sports betting handle in December 2024 compared to the same month the previous year.
Tennessee Volunteers Were a Driving Force
The success of the Tennesee Volunteers football team and a keen interest in the National Football League were likely the biggest reasons Tennessee sportsbooks hauled in so much in wagers last month.
The Vols advanced to the first 12-team College Football Playoff, before succumbing to Ohio State. The National Hockey League and National Basketball Association, as well as college basketball, are also currently active.
State coffers will swell by more than $10.5 million in tax revenue from the sports bets placed in December. Operators such as FanDuel, DraftKings, BetMGM, and Caesars are licensed in the state for online sports betting. However, Tennessee does not break down the total handle by specific operator nor reveal how much was wagered on which sports.
Some of the Best Sportsbooks Operate in TN
There are 12 licensed sportsbooks in Tennessee: Bally Bet, Betly, BetMGM, Caesars, DraftKings, ESPN Bet, Fanatics, FanDuel, Fanatics, Hard Rock Bet, Superbook, and ZenSports.
The closure of the Bovada sportsbook in early November may contribute to the impressive figures posted by legal sports betting apps in the last two months of 2024. Bovada was shuttered on November 7 after Tennessee gaming regulators sent a cease-and-desist letter to the offshore bookmaker.
Regulators have targeted Bovada in several states for operating illegally. Unlicensed sports betting operators pose a risk to consumers because they are not required to adhere to gaming laws in the state where they poach customers.
