Tennessee Sports Betting: Super Bowl rakes in nears 50% in state income

Tennessee Sports Betting: Super Bowl rakes in nears 50% in state income

Tennessee’s January gross income increased 47 percent year over year to $36.2 million, up from $20.9 million last year. According to PlayTenn, the surge in GR comes as Tennessee’s sportsbooks follow a record-breaking January with an additional $23 million in Super Bowl betting. 

Super Bowl windfall in TN

The Super Bowl will always generate big action, but five weekends of football in January, which featured an additional week of the NFL’s regular season and an expanded playoff, benefited bookmakers in particular.

With the NCAA men’s basketball tournament approaching, bookmakers should continue to experience strong betting volume levels until the season’s seasonal decline in the spring. Along with the GR and sportsbook records, promotions reduced Tennessee’s adjusted revenue to $29.1 million, generating $5.8 million in tax income. The January figures did not reflect the majority of Super Bowl wagering, which was also reported Wednesday by the SWAC. Tennessee bookmakers took in $23.1 million in Super Bowl wagers, up from $15 million in 2021. Operators won $3.4 million on those wagers, equating to a whopping 14.9 percent hold on the big game.

NFL season delivers for Tennessee sportsbook  

Although Super Bowl betting volume was somewhat disappointing, bookmakers compensated by winning a high percentage of those wagers. Tennessee sportsbooks and their bettig apps, on the other hand, advanced significantly during the NFL season, adding and upgrading options such as same-game parlays, in-game betting, and prop bets. These efforts were rewarded with a victory during the Super Bowl.

About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.