Tennessee Sports Betting Wraps Up 2024 with Strong December Numbers
Tennessee’s sports betting market finished the year on a high note, with $572.7 million in total wagers placed during December 2024.
Solid Gains Despite Adjustments
December 2024 numbers mark a 15.8% increase compared to December 2023, making it the second-best month in the state’s history. While it fell short of November’s record $598.6 million.
After $2.9 million in adjustments, the adjusted gross handle for December came in at $569.8 million. The details of the adjustments weren’t disclosed, but even with these revisions, the handle represented a healthy 16.1% year-over-year growth.
The state collected $10.5 million in tax revenue from sports betting in December, highlighting its financial impact on Tennessee’s economy.
Mobile Betting Drives Success
Tennessee stands out as a mobile-only sports betting market, with no retail sportsbooks allowed under state law. Despite this limitation, the state’s market has thrived, thanks to a diverse lineup of 12 licensed operators that includes:
- FanDuel
- DraftKings
- Caesars
- BetMGM
- Fanatics
- ESPN Bet
- Hard Rock Bet
- Bally Bet
Local operators, such as Tennessee Action 24/7, and platforms like Betly, ZenSports, and Superbook, also contribute to the state’s competitive edge.
Regulatory Clampdown on Offshore Operators
The last quarter of 2024 wasn’t just about record numbers—it also saw some regulatory action. In November, offshore sportsbook Bovada exited the Tennessee market after receiving a cease-and-desist order and a $50,000 fine from the Sports Wagering Council (SWC).
Recommended