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The state of Tennessee reported its best month ever for sports betting in March....well, sort of. It was the best month that did not feature football. But March did have the heavily wagered on NCAA Men's College Basketball tournament.
Just over $370 million was wagered on during the month, up 79.8% from $205.9 million in March 2021.
“Even without a Tennessee team making a deep run in the NCAA Tournament, sportsbooks were able to beat expectations,” said Alec Cunningham, lead analyst for PlayTenn.com. “March is the busiest non-football month of the year, and this year’s wagering topped all but the two busiest months of the football season, too. This shows an engaged base of bettors that have an interest that goes beyond the state border.”
Tennessee only offers online sports betting as the state is not home to any land-based casinos. It also imposes a 10% withholding on winnings, leading Gambling911.com to rank the Volunteer State a 5 out of 10 in terms of sports gambling quality of experience.
- Gilbert Horowitz, Gambling911.com
