Tennessee Sports Betting Handle Sets New Records in November

Residents of Tennessee continue to love our best sports betting sites.

The Tennessee Sports Wagering Council (SWC)  the state’s latest sports betting report for November 2024. The regulator reported a record-breaking gross handle of more than $594 million for the state’s second consecutive month of record-setting performance. The handle marks an 8.5% increase on the previous all-time high of $547 million set in October and is the fourth time that the state has reported a handle above $500 million.

The handle increased by 5.2% month-on-month in October to surpass the $521 million record set in September 2024. Before September, the previous record of almost $516 million was set in November 2023. Compared to this figure, the handle was up by 15.3% year-on-year.

Tennessee bettors wagered close to $599 million in November, but the gross handle represents the total following adjustments. The SWC reported a privilege tax payment of close to $11 million for the month, which also marks a new record total. While the report does not reveal the state’s monthly revenue, it imposes a 20% tax rate on sports betting revenue, meaning revenues are expected to be around $55 million for the month. 

How many licensed sportsbooks operate in Tennessee?

The Volunteer State is home to 11 licensed online sportsbooks, including FanDuel, BetMGM, DraftKings, Action247, Caesars, Fanatics, ESPN BET, Hard Rock Bet, Wagr, Betly, and Bally Bet, which was the latest sportsbook to launch in the state in October 2024. At the time, the company wrote in a :

“The Bally Bet sportsbook app encompasses all the features that customers adore and much more, solidifying its position as the premier choice for sports wagering in Tennessee.”

Tennessee sports betting was legalized in April 2019, less than a year after the Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) of 1992. The first online sportsbooks did not launch until November 2020, starting with BetMGM, DraftKings, FanDuel, and Action247. The Action247 sportsbook is only available in Tennesee and is operated locally. 

Since, the number of sportsbooks and Tennessee sportsbook promos has grown.

Tennessee introduced the first online-only sports betting model in the U.S., meaning no retail sportsbooks are available in the state. The state also has no land-based casinos or online casinos. In addition to Tennessee sports betting apps, other legal gambling options available in the state include the lottery, horse racing, and charitable gaming.

SWC cracks down on unregulated operators

The SWC recently issued its third fine to Bovada, one of the largest unregulated offshore sportsbook and online casino platforms operating in the U.S. The regulator previously sent cease-and-desist letters to the operator, but after no response, Bovada now faces around $50,000 in fines from the SWC. Mary Beth Thomas, Executive Director of the SWC, commented:

“Our primary role is the protection of the public interest through a safe, regulated environment, and Tennessee sports bettors need to know that just because they can access a sports betting website or app inside Tennessee’s borders does not mean it is licensed to do business here.”

Two weeks later, the SWC that the sportsbook was no longer open for business in the state.