Tennessee reports record $1.1 billion in sports wagers

Finance News

Sports betting has been growing in popularity ever since its launch in Tennessee. March saw record-breaking revenue numbers for mobile sports wagering sites.

The state recently reported that these sites generated almost $1.1 billion in revenue in March. This is a significant increase of 72 per cent.

The increased revenue was mainly attributed to the NCAA basketball tournament. The tournament typically generates a lot of excitement and attracts a lot of bettors. While March’s revenue numbers fell just short of the all-time record set in January 2023, bookmakers still did better than ever regarding revenue. 

According to the gaming commission, online sportsbooks generated $162.8 million in gross gaming revenue in March 2023, a significant increase from the $108.3 million earned in February and the $114.3 million earned in Mar. 2022.