- According to a monthly report published by the Tennessee Sports Wagering Review Council, Tennessee sportsbooks saw their handle, revenue and tax contributions increase in March.
- March marks the sixth straight month that Tennessee has topped $300 million in management, and the seventh straight month Tennessee has topped $20 million in revenue and $4 million in taxes paid.
NASHVILLE, Tenn. – Tennessee sports betting had another strong month in March, according to a new report from the Tennessee Sports Wagering Review Council.
Tennessee Sportsbook manages, revenue and tax contributions increase in March
According to the report, Tennessee sportsbooks handled a total of $370.2 million in wagers in March.
This is the sixth consecutive month in which Tennessee sports betting has managed at least $300 million bets. March’s total handle of $370.2 million also represents more than $50 million increase over February figures.
From a revenue perspective, sports betting in Tennessee generated $22.8 million, surpassing February’s $20.9 million mark.
March also marks the seventh straight month that Tennessee sports betting has generated at least $20 million in sports betting revenue.
As a result of Revenue of $22.8 million in March figure, sports betting contributed $4.6 million in taxes to Tennessee’s coffer.
This exceeded the February tax contribution of $4.2 million and marked the seventh consecutive month with at least $4 million in tax contributions on sports betting.
Financial figures are expected to remain strong in April
As April approaches, Tennessee’s sports betting financial numbers are expected to remain strong, thanks in large part to the Memphis Grizzlies’ success in the NBA playoffs.
The Grizzlies finished the regular season with a sheet 56-26, and are currently linked 2-2 with the Minnesota Timberwolves in the first round of the Western Conference playoffs.
The Grizzlies are (-350) betting odds favorites to win the series against the Timberwolves and advance to the next round of the NBA playoffs at legal sports betting sites. Star goalkeeper Ja Morant currently holds the sixth-shortest betting odds (+1200) to win the 2022 NBA Finals MVP.
News Tags: Ja Morant | Memphis Grizzlies | Minnesota Wolves | NBA | NBA Finals MVP | NBA Playoffs | Tennessee | Tennessee Sports Betting Review Board | Western Conference Finals
Jerad has been a welcome addition to the LegalSportsBetting.com editorial team. Covering topics regarding the expansion of sports betting in the United States, Jerad focuses on legislative efforts, bill signings, and other methods of legalizing sports betting. Having completed his education as a college baseball player, Jerad has first-hand knowledge of competitive sports, as well as years of personal sports betting. As a political scientist at the University of Central Florida, Jerad covers the political, legal, and legislative aspects of sports betting with no problem.