January 2025 betting handle in Tennessee exceeded $543 million, marking another strong month for the state's sports betting market. Despite a slight dip compared to December 2024, the year-over-year growth continues to be impressive, exceeding 16% and demonstrating the market's overall strength.
January provided a promising glimpse into the future of Tennessee 's legal sports betting market, suggesting a robust 2025. Sportsbooks processed a staggering $543.6 million in wagers last month, marking the fifth consecutive month of handle exceeding half a billion dollars. This impressive performance places January alongside November 2023 as the months with the highest betting activity recorded so far. While January saw a 4.
6% decrease compared to December 2024, year-over-year growth in sports betting surpassed 16%. Despite the slight decline, Tennessee's sports betting market continues to demonstrate significant strength. Operators are likely bracing for a potential dip in handle as the year progresses, as January typically holds the highest position until September, when the NFL season resumes. March Madness, while a popular betting period, usually witnesses a decline in handle following January's peak. However, the overall trend for 2024 paints a positive picture. Every single month surpassed the previous year's handle, with five months witnessing growth exceeding $100 million year-over-year. Tennessee concluded 2024 with a remarkable $5.2 billion in wagers, marking a 23% surge. This upward trajectory extends beyond Tennessee's borders. Neighboring states Virginia and North Carolina also reported impressive figures. Both Virginia and Kentucky announced record-breaking all-time handles for November and December 2024, and while down from December, they still stood as the second-best months ever recorded. Kentucky regulators project $23 million in annual tax revenue from sports betting, a significant figure considering that 2024 alone generated nearly $40 million
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