super bowl

Tennessee sports betting jumps 17% in January

About $211 million in sports bets were placed in Tennessee in January, a 17% increase from the previous month. Payouts were $190 million.

The state’s tax haul was $4.3 million, bringing the total to $9.7 million through the first three months since gaming went live in November.

Preliminary figures show $15 million worth of bets were placed on the Super Bowl, though final numbers won’t be available until the February numbers are released late this month.

For the first three months of gaming, Tennessee sportsbooks have taken $524 million in bets and paid out $476 million. While the law requires payouts to be no more than 90 cents on every dollar wagered, sportsbooks have been averaging closer to a 9% hold.

Here are the monthly betting numbers to date:

NovemberDecemberJanuary
Wagers$131 million$181 million$211 million
Payouts$118 million$168 million$190 million
Privilege Tax$2.4 million$3.1 million$4.3 million