Sports Betting Sign Next to Mobilphone and the Tennessee Flag

Strong Start for Sports Betting Online Betting

Strong Start for Sports Betting in Tennessee

By Blake Roberts Founder & Editor in Chief Updated: 12 December 2020

Blake Roberts Founder & Editor in Chief

Blake Roberts is the founder of Betting.US and is currently heading the creative team as Editor in Chief. Born and raised in Morgantown, West Virginia, Blake is a great sports fan, with football and basketball being his favorite. He’s our trusted voice for all betting-related matters.

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Following a much-publicized launch at the start of November, the state of Tennessee is enjoying success with its online sports betting offerings.

When online betting was launched, there were four sportsbooks approved for operations in the state. Officials have now confirmed that there are still many pending applications, so even more operators could come on board over the coming weeks.

The initial sportsbooks in the state included sports betting giants, FanDuel, DraftKings, and BetMGM. In addition to this, there was a local operator approved, Tennessee Action 24/7. This meant that sports fans in the state already had plenty of choices as soon as sports betting went live. This choice is set to continue growing.

Impressive Figures So Far

The figures relating to the handle and revenue from the four sportsbooks have been very impressive so far. On the day of the launch, the four operators took in more than $5 million in bets. Figures released by the Tennessee Education Lottery recently revealed that between the 1st and 8th November, the operators reported a total handle of $27 million.

In a recent meeting, TEL president and CEO Rebecca Paul Hargrove, said:

We’re off to a great start.

She also gave a breakdown of the figures, showing how both the operators and the state had benefitted in terms of revenue and state taxes.

A Wide Range of Promotions

In the run-up to the launch, the sports betting operators provided access to a wide range of promotions and special deals to get new members on board. Many are still offering special deals and promos, which have helped to boost their success.

On top of this, the operators – particularly the more established ones – spent a lot of money on promotion and advertising to raise awareness of the new sports betting platforms they would be offering. The success of the sportsbooks has been further enhanced by a packed sports schedule over recent weeks.

Many sports fans were delighted with the legalization of online sports betting in the state, although there was initially some concern that the start of legal sports betting could be disrupted by the cancellations of professional sports. By the time online sports betting was launched in Tennessee, live sports were back in full swing though and sports fans were eager to place their bets.

More Sportsbooks to Come

Lottery officials have confirmed that while the approved sportsbooks are continuing to enjoy success, there are many others that may be approved soon. It is thought that William Hill and BetAmerica are among those that could go live in December, and there may be several others that are approved before the year is out.

All this means that sports fans in the state can look forward to more sports betting options. In the event of a second lockdown, more people may start betting on sports as a means of entertainment, so the increased choice could prove beneficial.

Tennessee is the first state to offer online sports betting only, with no physical locations for sports betting.