Tennessee Sportsbooks Hits Revenue Record In November

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Nissan Stadium. Photo Courtesy of Nashville Convention & Visitors Corp

Nissan Stadium. Photo: Courtesy of Nashville Convention & Visitors Corp

Sports betting continues to boom in Tennessee as Sportsbooks in the Volunteer state recorded revenue of over $40 million in November. This marks the highest recorded for the state, according to PlayTenn.

The average volume grew to $12.2 million per day in November from $12.1 million per day in October. The increase in volume broke records as the gross revenue grew 179% to $36.9 million in November from $13.2 million in November 2020, shattering September’s record of $25.6 million along the way.

“Even with one fewer football weekend than in October, wagering grew, a sign that the wave of action over the last three months is sustainable beyond football season,” says Eric Ramsey, an analyst for the PlayUSA.com Network in a press release. “Sportsbooks continue to expand their reach to new customers, and bettors are becoming increasingly comfortable with more diverse forms of betting. It is difficult to imagine a better season than the one that Tennessee Sportsbooks have enjoyed.”

Wagering fell to $365.7 million in bets in November, falling short of the record $375.3 million in bets reached in October, according to data from the Tennessee Education Lottery and Sports Wagering Advisory Council. However, November’s bets were up 178% from the $131.4 million in bets that Sportsbooks took in November 2020.

This was the third straight month the state hit revenue records. The state also created $6 million in taxes.

Tennessee Breaks Monthly Wagering Record With $375 Million In October

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Tennessee continues to break records in the sports betting world after recording $375 million in wagers in October, which is $120 million more than September, according to PlayTenn.com.

In October, Sportsbooks accepted $375.3 million in bets, up 45.9% from the record $257.3 million handle generated in September, according to data released Tuesday during a meeting of the Tennessee Education Lottery and Sports Wagering Advisory Council. Bettors placed $12.1 million in wagers per day over the 31 days of October, up from $8.6 million per day over the 30 days of September.

The increase in betting is likely attributed to the density of NFL, college football, MLB Playoffs and NBA games played during October, according to PlayTenn.com.

“With five full weekends of the NFL and college football, baseball’s postseason, and the start of the NBA season, betting inventory was off the charts,” says Alec Cunningham, an analyst for PlayTenn.com. “The calendar won’t always be so cooperative, but a maturing market will continue to push Tennessee’s industry.”

She continues, “Tennessee is one of the few states with at least one NFL, NBA, and NHL team and multiple Division I football and basketball programs, all of which will be playing full schedules in November. More records will almost certainly fall before the end of the year.”

Gross revenue fell 9.0% to $23.3 million from September’s record of $25.6 million, but that still represented the second-most profitable month for Sportsbooks. The win led to a record $17.2 million in taxable revenue, which yielded $3.4 million in tax revenue.

October’s results pushed the state’s lifetime handle to $2.3 billion since the first Sportsbooks launched in November 2020, making the Volunteer State the fifth-fastest to the $2 billion milestone.

Former Titan Chris Johnson Joins BetMGM As Brand Ambassador

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Former Tennessee Titans running back Chris Johnson has signed with BetMGM to become its newest brand ambassador. He will be featured in upcoming marketing campaigns, promotions, social media content and fan events.

“I’m excited to join the BetMGM team and to have a new platform to engage with CJ2K fans around the country.,” says Johnson. “BetMGM is at the forefront of the excitement surrounding sports betting and is a perfect fit for me to get involved in this rapidly growing industry.”

Over the course of 10 NFL seasons, Johnson was one of the league’s most prolific running backs. He earned the nickname “CJ2K” in 2009 when he rushed for 2,006 yards for the Titans, making him one of eight players in NFL history to eclipse 2,000 rushing yards in a single season.

Johnson spent seven seasons with the Titans where was named to three Pro Bowls and 2009 Offensive Player of the Year. He rushed for over 7,965 yards during his tenure in Tennessee.

“Throughout his career, Chris Johnson thrilled fans with his performance on the football field, week in and week out,” says Matt Prevost, BetMGM Chief Revenue Officer. “As we continue to expand BetMGM’s presence in Arizona and Tennessee, Chris will play a key role in helping us provide new and engaging experiences for our customers.”

As BetMGM continues to expand into new jurisdictions, responsible gaming education remains a key focus. BetMGM readily provides resources to help customers play responsibly.

The NFL & Aristocrat Gaming Unveil Exclusive Slot Machine Licensing Agreement

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The National Football League and Aristocrat Gaming have announced an exclusive multi-year slot machine licensing agreement. Aristocrat will have an exclusive global license to build land-based NFL-themed slot machines as well as a non-exclusive license for virtual sports games, marking the first deal of its kind for the NFL.

The partnership will provide the NFL an opportunity to further drive fan engagement through a new gaming experience. The NFL-themed slot machines, which will offer fans the ability to customize their experiences based on their favorite teams, are expected to hit casino floors during the 2023 NFL season.

“The world of casino gaming is transforming, and the NFL is thrilled to be teaming up with industry leader, Aristocrat Gaming, with their proven track record in slot machine innovation and commitment to responsible gaming,” says Rachel Hoagland, Vice President, Gaming and Partnership Management, NFL. “Today’s slot machines offer engaging experiences akin to popular video game consoles that our fans adore, and we believe with Aristocrat’s vision, we can bring that exciting gaming experience to fans on the casino floor looking to show their love of football.”

Aristocrat Technologies Inc. is a subsidiary of Aristocrat Leisure Limited, a global games leader with more than 6,500 employees. The company is licensed in over 300 gaming jurisdictions, operates in more than 90 countries, and offers a blend of products and services. The company is the leading designer, manufacturer, and distributor of Class III games as well as Class II Innovations for Native American casinos and emerging markets.

“At Aristocrat, we are changing the game. In that spirit, we are thrilled to enter this agreement with the NFL, whose similar mission made this a natural partnership,” says Hector Fernandez, President of Aristocrat Americas and EMEA. “Fans worldwide love watching the NFL, and casino players worldwide enjoy Aristocrat games. This agreement presents a new opportunity to reach tens of millions of NFL and Aristocrat fans with exciting new entertainment options on the casino floor and beyond.”

The NFL recently announced the launch of an extensive, integrated league-wide responsible betting public awareness program. For more information about responsible betting tools and resources, visit responsibleplay.org.