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Tennessee betting revenue bounces back in June


The Tennessee Education Lottery (TEL), which is responsible for licensing and regulating online sports betting in the state, has reported that customers wagered a total of $174.5m in June, an increase of 8.4% month-on-month.

This was up from $160.9m wagered in May, which was the month with the lowest recorded wagering handle since the market opened in November 2020.

This record was previously set in February, with a handle of $176.3m. However, handle rocketed back in March to $205.9m.

Payouts totaled $156.2m in June, up 7.3% compared to May. Operators generated an adjusted gross income of $16.1m, up 17.5% month-on-month, and owed $3.2m in privilege tax.

Also in June, the TEL announced that it had passed $2.0bn in total annual revenue in its 2021 fiscal year.

Online and mobile wagering was first legalized in Tennessee in July 2019 after Governor Bill Lee allowed a bill permitting it, SB0016, to pass without his signature.

The bill made Tennessee the first US state to introduce online and sports wagering without a land-based element.