Tennessee Posts Sports Betting Handle of $176.3 Million for February

by David Burke - Monday, March 29th, 2021 1:18


The Tennessee Education Lottery has issued its latest monthly revenue report showing a sports betting handle of $176.3 million for the month of February.

This marks a 16.6% drop on January’s record-breaking sports betting handle of $211.3 million. February’s handle is also the lowest since November’s handle of $131.4 million.

The report also reveals that the sportsbooks paid out $163.3 million leaving just $13 million in taxable revenue. This was a drop of 40.4% on January’s adjusted gross income of $21.8 million.

As a result, state taxes from the sports betting industry amounted to just $2.6 million.

The news follows the recent suspension and reinstatement of local sports betting operator Tennessee Action 24/7’s sports betting license following a lottery investigation into claims of credit card fraud by depositors.

 

Image credit: Derrick Brutel / CC BY-SA 2.0

David Burke
Reporter

Reporter covering all aspects of sports, poker, regulation, iGaming business and more.