$131 million wagered in first month of Tennessee sports betting

Sports betting
Posted at 10:23 AM, Dec 28, 2020
and last updated 2020-12-28 11:23:31-05

NASHVILLE, Tenn. (WTVF) — Bettors wagered millions of dollars in Tennessee's first month of legal sports betting, according to new numbers from the Tennessee Education Lottery.

The TEL, which oversees the state's new sports betting industry, said $131 million was wagered in November, with sportsbooks paying out $118 million. Those companies paid $2.4 million in taxes, with 80% of that, or $1.9 million, going to state education programs.

"We are far exceeding our expectations," Action 247 president Tina Hodges said. The company is the only operating sports book headquartered in Tennessee. "For us, we have been growing every single day, sometimes doubling registrations from the day before. So our dollar bets are getting larger, our registrations are getting larger and every day we're beating the day before."

Hodges said those increases have gotten a boost from the Titan's success.

"Tennessee bettors are fired up about the titans," she said. "NFL Sundays are the biggest betting days for us"

Now Hodges is expecting those betting numbers to only go up from here.

"Americans love sports they love to play games of risk, they love gambling so I think that Tennessee we're just at the tip of the iceberg," she said.