The growth of legal Tennessee sports betting is obvious from raw numbers.
In 2021, the first full year of wagering for the all-mobile sports betting market in the state, Tennessee had about $2.7 billion in wagers accepted, or handle.
Last year saw the Volunteer State fly past that mark.
In 2022, Tennessee reported more than $3.85 billion in sports betting handle, ending the year with consecutive record months for amount wagered.
It was a notable year for several reasons.
Handle Records Fall Repeatedly
Entering 2022, the record for the most handle in one month in Tennessee was $375.3 million, in October 2021.
The state surpassed that four times in 2022, including in January when there was just over $386 million wagered.
The Volunteer State hurdled the $400 million barrier for the first time in October, accepting $405.3 million in bets. That record only stood for a month, because November saw the state report $439.4 million.
Then December saw the record fall yet again, as Tennessee residents bet $440,445,414 on sports to close out the calendar year.
The first $500 million month in the state might not be far behind – only 10 states have ever had that much in sports betting handle for a single month.
Remember that these figures don't account for Tennessee sportsbook promos.
TN Sports Betting Revenue Also Sets Mark
The ending months of 2022 also saw the state set new standards for revenue derived from Tennessee sports betting apps.
In September, Tennessee surpassed $40 million in a month for the first time, at $43.58 million. After a decline in October, the sports betting revenue again reached a new height, surpassing $45.15 million in November.
Like the handle record, that high-water mark for revenue only lasted for a month, as December saw the revenue climb to nearly $47 million.
In 2021, again the first full year for legal, regulated wagering on sports, the state took in about $198.5 million in revenue. That was easily surpassed in 2022, with about $340 million.
The most revenue for a single month in 2021 was $29.6 million in November, which was an outlier because that was the only month above $20 million. In 2022, Tennessee surpassed $20 million in nine of the 12 months and broke $30 million four months in a row during football season.
Plenty of Tennessee Sports Betting Options
The Nashville Predators are fighting to stay alive in the NHL playoff race and are +8000 at DraftKings Tennessee Sportsbook to bring home the franchise’s first Stanley Cup title. The Tennessee Titans ended the 2022 NFL season on a seven-game losing streak, finishing 7-10.
The Tennessee Volunteers had their best season in several years, capping their season by beating Clemson in the Orange Bowl. The Vols finished 11-2, sixth in the final Associated Press poll, and defeated rival Alabama for the first time since 2006.
Coach Josh Huepel’s team is +2200 with Caesars TN Sportsbook to capture the 2023 national championship.
