Tennessee’s sportsbooks have recorded $144.6m in bets for July 2021, the state’s lowest handle since November 2020.
The figure, according to official data released by the Tennessee Education Lottery and Sports Wagering Advisory Council, was down 17% from June 2020. The pace of betting meanwhile fell from $5.8m per day in June to $4.7m per day in July.
Revenue did, however, remain high relative to the month’s overall decline, with the state reporting a total of $15.2m in gross gaming revenue. That was down 17% from June, with the total yielding $13.4m in taxable revenue.
According to PlayTenn, part of the PlayUSA.com network, the dip is in line with trends across the country, with every major US market reporting a significant month-on-month decline in wagering. The dip is, however, expected to be short-lived due to the return of the National Football League later this month.
“Even with the NBA Finals and the Olympics this July, there wasn’t nearly as much to engage casual bettors compared to any other month of the year,” said PlayUSA.com analyst Jessica Welman. “But sportsbooks should quickly erase any declines as those casual bettors return home from summer vacations in August and then begin to turn their attention to football.”
PlayTenn.com analyst Nicole Russo commented: “All in all, the summer has gone well for Tennessee’s sportsbooks. An increased win percentage for sportsbooks has helped make up for the loss of volume. In the slower months that’s exactly what operators are hoping to see.”