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Tennessee recorded a strong month for sports betting in March, with sportsbooks processing $551.7 million in wagers. The sharp rebound followed a quieter February and delivered a substantial tax gain for the state.
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In January, sportsbooks accepted $543.6 million in bets. That number fell by 23 percent in February, down to $417.4 million. March brought the handle back in line with January, largely thanks to betting activity tied to the college basketball tournament.
According to the Tennessee Sports Wagering Council, the state brought in $10 million in tax revenue from March’s betting total. Despite the uptick, a slowdown is expected in April as basketball interest fades.
Bettors often pull back after the early rounds of the NCAA tournament wrap up. Historical data shows that April betting activity tends to trail off until the start of football season later in the year.
Still, year-over-year numbers suggest continued growth. Compared to March of last year, Tennessee’s sports betting handle rose by 15 percent. The increase highlights ongoing interest in regulated wagering across the state.
March often serves as a high point for betting volume in the first half of the year. Operators and regulators now prepare for the quieter stretch that usually follows until football returns in the fall.