Tennessee Sports Betting Starts Strong With 3 More Sportsbooks Pending – The Action Network

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DraftKings, FanDuel and BetMGM all recorded more in total handle during Tennessee’s Nov. 1 sports-betting launch than each had on any other states’ opening day.

Tennessee’s four legal sportsbooks, including Nashville-based Tennessee Action 24/7, took in $5.1 in wagers on opening day. The quartet recorded $27 million in total handle between Nov. 1-8, the first stretch of revenue figures announced by the Tennessee Education Lottery.

“We’re off to a great start,” TEL president and CEO Rebecca Paul Hargrove said during a meeting Monday.

The four sportsbooks combined to split roughly $800,000 in revenue on Nov. 1 alone. Between Nov. 1 and Nov. 8, the quartet netted $2.5 million in combined adjusted net revenues, which in turn generated more than $500,000 in state tax revenues.

Promotions, Football Spark Tennessee Interest

Tennessee’s massive opening week was bolstered by an intense promotional blitz and one of the most lucrative times in the American sports calendar.

In addition to a multimillion-dollar advertising barrage, DraftKings, FanDuel and BetMGM all offered some of their most generous signup bonuses and promotions ever:

  • DraftKings bettors in Tennessee can get a first deposit bonus up to $1,000, double the rate offered in other states its launched.
  • FanDuel users can get a risk-free bet up to $1,000.
  • BetMGM is offering an instant deposit match up to $500.
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