The Tennessee Lottery has published the sales data for the state’s sportsbooks for September, revealing a record total of $257m.
This new landmark figure marks an improvement of 78.1% from $144.5m in August, and smashed the previous record by over $50m.
Analysed play PlayTenn, the Tennessee sportsbook market has been catalysed by the beginning of the NFL season and a full month of college football. The market analysts hinted that the Tennessee market could see a significant boom.
“As impressive as September was, the Tennessee sports betting market has not nearly reached its potential,” said Eric Ramsey, analyst for the PlayUSA.com Network, which includes PlayTenn.com.
“Baseball’s postseason and the return of the NBA, coupled with a full month of the NFL, should move Tennessee forward again. The records will continue to fall over the next few months.”
Bettors in the Volunteer state wagered $8.6m per day over the 30 days of September, up from $4.7m per day over the 31 days of August.
Furthermore, Gross Revenue reached record heights, with sportsbooks winning $25.6m in September, up 93.9% from $13.2m in August. It topped the previous record of $20.9m in revenue gained in January.
The new football season ushered in more online sports bets in Tennessee, with the NFL having a special pull with US bettors.
“Football is unique in the way it motivates bettors, and sportsbooks got a little help with decent starts in September by the Titans and Volunteers,” added Nicole Russo, analyst for PlayTenn.com.
“With local interest in the Atlanta Braves and the start of the Grizzlies season adding to the mix, October should push sportsbooks to yet another level.”