Record-Breaking Betting in Tennessee Reaches Over Half a Billion Dollars during March Madness
🌟 TN Sports Betting Boom in March 🌟
Mar'25 saw a major comeback for Tennessee's sports betting scene, with a whopping $551.7 million in bets processed. Following a lull in February, the strong rebound not only marked a triumphant return but also boosted the state's coffers.
📊 Breaking it Down 📊
- Jan'25: Bets totaled $543.6 million
- Feb'25: A 23% dip to $417.4 million
- Mar'25: A defiant rebound to $551.7 million, largely fueled by March Madness
- Apr'25: Usually, the handle drops post-March Madness
🎯 March's Magnificence 🎯
The March handle surged in line with January, thanks to the NCAA Men's Division I Basketball Tournament. This rebound also represents a 15% rise year-on-year, emphasizing the state's burgeoning fascination with regulated wagering.
🛍️ Year-on-Year Growth 🛍️
Comparing March'24 and March'25, the betting handle jumped 15%, indicating Tennessee's continuous interest in sports betting. In fact, from '23 to '24, the state reported a 22.8% overall increase in betting handle, demonstrating a steady upward trend in sports betting activity.
💰 Tax Revenues 💰
The Tax Man reaped $10 million from Mar'25's betting total. Despite this boost, expect a slowdown in Apr'25 as basketball enthusiasm dwindles. 🏀
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Despite the 23% dip in February's betting activity, Tennessee saw a substantial spike in sports betting in March, processing $551.7 million in bets, similar to January's total. This rebound, largely fueled by March Madness, also represented a 15% year-on-year increase, with sportsbooks such as BetUS offering enticing welcome packages to attract new bettors.
