November 25, 2020
Social Media Manager
Regulated online-only sports betting kicked off on November 1 in Tennessee and it’s been a massive month as per figures obtained by the Tennessee Lottery.
While the State’s Governor Bill Lee might be against sports betting, Tennessee sports fans are all onboard with the newly regulated online sports gambling space.
The launch day on November 1 was an NFL Sunday, that saw $5.1 million in bets being managed between the four operators– FanDuel, DraftKings, Tennessee Action 24/7, and BetMGM.
Though, it was a successful first week altogether for sports betting. $27.4 million was wagered over that week and created revenues of $2.5 million for the four operators.
The State pocketed a cool $509,000 ingenerated taxes too.
CEO and President of Tennessee Lottery, Rebecca Hargrove was positive in her statement about the first month. Hargrove went as far as to point out that the industry creates critical funds for education, local governments, and problem gambling services.
While some are still against the regulation of online sports betting, the taxes generated for the State are a huge positive.
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