• About Us / Contact
  • Responsible Gambling
This site contains commercial content
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News
No Result
View All Result
SportsHandle
No Result
View All Result

Tennessee Posts Record $386 Million Sports Betting Handle For January

Super Bowl handle rises sharply to $23 million as operators claim close to $3.5 million in GGR

Chris Altruda by Chris Altruda
February 17, 2022
in Industry
Tennessee January 2022 Super Bowl

Shutterstock

Share on FacebookShare on Twitter

Bettors in Tennessee hit the ground running to start 2022, generating a record $386 million in sports wagering handle in January, according to figures released by the state’s Sports Wagering Advisory Council Wednesday evening.

The handle, aided by the Tennessee Titans appearing in the AFC divisional round of the playoffs, topped the previous record of $375.3 million in wagers from October. The Volunteer State has cleared $350 million in handle in three of the last four months, with the nearly $1.5 billion in bets in that span accounting for close to 43% of the state’s overall $3.4 billion handle in 15 months of wagering.

Operators also came close to setting a monthly revenue record, as the $36.2 million in gross gaming revenue was less than $700,000 below November’s all-time standard of $36.9 million. The 9.4% hold was more than 2 full percentage points higher than December’s 7.2% win rate and slightly higher than the all-time mark of 8.8%.

The $8.1 million that operators claimed in promotional revenue meant the state was able to apply its 20% tax rate on close to $29.1 million in adjusted gross revenue, collecting more than $5.8 million in tax receipts. Tennessee also became the fastest state in the post-PASPA era to reach $50 million in tax revenue, edging out Illinois, which needed 16 months from launch to reach the benchmark last June.

Super Bowl proves popular even without Titans

INBOX: From the SWAC in #Tennessee, #SuperBowl numbers:

Handle: $23,111,449
GGR: $3,441,762
GGR Win Rate: 14.89%
AGR: $2,115,250
AGR Win Rate: 9.15%
Taxes: $423,050#GamblingTwitter

— Chris Altruda (@AlTruda73) February 16, 2022

Though the Titans were bounced from the playoffs by eventual AFC champion Cincinnati, the Super Bowl generated a notable amount of action among the state’s nine mobile operators. The $23.1 million in handle climbed nearly 50% compared to the $15.4 million in wagers from Super Bowl LV.

And it was a good Super Bowl for the house, as the 14.9% win rate on gross revenue ranks second among large-market states behind only Illinois (15.7%) and third overall as Montana had a 38.5% hold on close to $700,000 in bets.

Even after operators claimed nearly 40% of their winnings as promotional revenue, Tennessee still added $423,050 to its coffers from the 20% tax on the more than $2.1 million in adjusted revenue.

The Sports Wagering Advisory Council does not furnish handle and revenue by operator or sport.

ShareTweetShare
Chris Altruda

Chris Altruda

Chris Altruda has been a sportswriter with ESPN, The Associated Press, and STATS over more than two decades. He recently expanded into covering sports betting and gambling around the Midwest. His Twitter handle is @AlTruda73 and can be reached via email at [email protected]

Related Posts

nfl-football-leaning-on-pylon
Industry

Tennessee’s Official League Data Up For Debate And Could Have National Implications

March 27, 2023
betmgm-logo-at-nashville-predators-home-arena
Legislation

Tennessee Legislature Considers Changing Mandatory 10% Wagering Hold Rule

March 22, 2023
Load More

Top Stories

taylor mathis

Taylor Mathis Got Sacrificed At The Altar Of Responsible Gambling

March 20, 2023
fanduel baseball wall

Premade Same Game Parlays Are Sucker Bets

March 13, 2023
maginfier-over-small-print

Read The Fine Print: A Proposed Federal Rule Could Change Everything For Indian Gaming

March 6, 2023
roman reigns wwe

Colorado Denies Report Stating That It’s Considering WWE Wagering

March 8, 2023

State Sports Betting Guides

Ohio (U.S. state) flag waving against clear blue sky, close up, isolated with clipping path mask alpha channel transparency, perfect for film, news, composition

Ohio Sports Betting – Where To Play, Bonus Offers And Promo Codes

by Brian Pempus
March 27, 2023

Downtown Detroit at twilight (Shutterstock)

Michigan Sports Betting – Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 27, 2023

VA captial

Virginia Sports Betting – Where To Play, Online Sportsbooks And Bonus Offers

by Brett Smiley
January 17, 2023

nj flag

New Jersey Sports Betting — Where To Play, Online Sportsbooks, And FAQ

by Brett Smiley
March 22, 2023

pa online sportsbooks

Pennsylvania Sports Betting – Where To Play, Online Sportsbooks And Bonuses

by Brett Smiley
October 6, 2022

Canada Sports Betting Guides

Canada Sports Betting – Best Sportsbook Apps & Bonus Offers

British Columbia Sports Betting – Legal Update, Available Sportsbooks, and FAQ

Ontario Sports Betting – Legal Status And Where To Play

SportsHandle

  • Analysis
  • Casino
  • Features
  • Horse Racing
  • Industry
  • Legal
  • Legislation
  • Opinion
  • Podcasts
  • Poker
  • Politics
  • Promotions
  • Regulation
  • Sports
  • Uncategorized

Better Collective

This website is owned and operated by Better Collective USA. Trademarks and copyrights referenced on this website are and shall remain the exclusive property of their respective owners and/or licensors. Please be sure to visit the operator’s website(s) to review their terms & conditions. We advise you to read these carefully as they contain important information. Copyright Β© 2023 USBets.com | Better Collective USA
21 Play Responsibly
Gamble Aware West Virginia
Gambling Problem? Call 1-800-Gambler.
GameSense

Search Sports Handle

No Result
View All Result
  • About Us / Contact
  • Responsible Gambling

No Result
View All Result
  • US Sports Betting
    • Arizona
    • Arkansas
    • Colorado
    • Connecticut
    • Delaware
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Mississippi
    • New Jersey
    • New Mexico
    • New York
    • Ohio
    • Oregon
    • Pennsylvania
    • Tennessee
    • Virginia
    • West Virginia
    • Wyoming
  • Pending States
    • California
    • Florida
    • Georgia
    • Missouri
    • North Carolina
  • Canada
    • Ontario
    • British Columbia
    • Alberta
  • Sportsbook Apps
    • FanDuel
    • BetMGM
    • Caesars
    • PointsBet
    • BetRivers
  • Tools
    • Sportsbook Bonuses Explained
    • Sports Betting Revenue Tracker
    • Sports Betting Podcasts
    • Partnership Tracker
    • Expected Value
    • Sports Scores And Odds Apps
    • Sports Betting Twitter
  • News

loading

Please wait while you are redirected to the right page...