The Tennessee Lottery has published sales data for the state’s sportsbooks in October, revealing a record-breaking figure of $375m.
Last month the lottery revealed a record-breaking sum, however, October’s figure marks a 45.9% increase from September’s $257m.
The significant rise of sales, according to analysts PlayTenn, is due to the current sporting calendar, which sees the NFL and college football seasons continue into its second month.
“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,” said 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.”
On average, Tennessee bettors wagered $12.1m per day over the 31 days of October, up from $8.6m per day over the 30 days of September.
However, gross revenue for Tennessee sportsbooks fell 9% to $23.3m from September’s record of $25.6m, representing the second most profitable month.
Overall, October’s sales data takes the Volunteer state’s total handle since its launch in November 2020 to $2.3bn, making it the fifth-fastest state to breach the $2bn mark.
“The enthusiasm for football in Tennessee has been a sort of rocket fuel for the state’s industry,” added Eric Ramsey, an analyst for the PlayUSA.com Network, which includes PlayTenn.com.
“Tennessee is proof that if demand is high and sportsbooks put out a good product, the market will succeed regardless of sometimes clumsy regulation.”