The latest revenue report from the Tennessee Sports Wagering Advisory Council shows that sportsbooks in the state accepted over $410.7 million in wagers throughout the month of January.
January’s figure marks a drop of 6.6% drop on December’s record-breaking $440 million. However, it also represented a year-on-year increase of 6.4%.
The report also revealed that adjusted gross income for the month grew by 24.7% when compared to January 2022. The state’s licensed sports betting operators reported combined adjusted gross revenues of $36.3 million, down $10 from the previous month.
Sportsbooks reported a win of 8.8% in January up from the 7.5% hold in January 2022. However, this was almost 2% less that the figure reported in December when sportsbooks held 10.6% of all wagers made throughout the month.
With several new mobile sports betting launching towards the end of 2022, revenues and taxes increased allowing Tennessee sports betting to report a record-setting 2022.
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.