TN Sportsbooks Establish New Mark for Total Handle in November
Tennessee’s sports betting market set new benchmarks in November, achieving record-breaking figures for the second month in a row, at nearly $600 million.
Tennessee sets new total handle mark in November.
Key Facts:
- Tennessee sportsbooks reported $594.4 million in total handle in November
- Second consecutive month that TN sportsbooks set record for total handle from sports betting
- $11 million was paid in taxes from sports betting activity according to the Tennessee Sports Wagering Council
Both total handle and tax revenue reached unprecedented heights in November in Tennessee, signaling continued growth in the Volunteer State’s regulated sports wagering industry.
The total handle for November reached $594.4 million, representing a more than 16% increase from the same period last year and an 8.6% rise from October’s lofty figure of $551.2 million.
Tennessee previously set the monthly total handle record in October, but November’s performance further raised the bar for the state’s thriving sports betting sector.
Tax revenue paid to the state treasury coffers from sports betting operators also set a new high in November, with the Tennessee Sports Wagering Council reporting $11 million collected. This figure surpassed the prior record of $10.1 million generated in October, further underscoring the market’s upward trajectory.
Major sportsbook brands BetMGM, DraftKings, and FanDuel are among the operators with a license in Tennessee. Gradually, the market for sports wagering in the state has grown, making it one of the healthiest in the United States. All of that handle and revenue stems from online sports betting activity. Which means Tennesseeans are happy to make wagers on their favorite sporting events via their mobile phone.
Unique among states with commercial sports betting, Tennessee generates tax revenue based on a percentage of handle rather than operator revenue. Since the market’s launch in November 2020, the state has operated exclusively through online wagering, with 12 mobile platforms currently active. Retail sports betting remains prohibited in Tennessee, maintaining its focus on the digital market.
The Tennessee Sports Wagering Council does not release detailed breakdowns of sports betting revenue or performance by operator or specific sport. However, the consistent growth in handle and tax collections from betting activity highlights the state’s strong consumer engagement and the effectiveness of its regulatory framework.
In both October and November, keen interest in professional and college football is likely to have fueled the new revenue and total handle record in Tennessee. In addition, October is the only month when all four major professional sports (football, basketball, hockey, and baseball) are in action.
Total handle is the amount of money in real dollars and promotions wagered by consumers on sporting events. It does not indicate the dollar figure that the sports betting operators keep after settling wagers.
