Statewide online sports betting volume is in the midst of a seasonal lull leading up to the National Football League regular season.
Legal TN online sports betting experienced its lowest handle numbers for the 2022 calendar year this June, with total bets coming in at about $215.77 million for the month and revenue declining to roughly $12.8 million.
While both the total handle and “hold” (revenue, aka “Adjusted Gross Income” in Tennessee) figures represent a sharp month-over-month decline, total bets for June 2022 are up approximately 30% year-over-year when compared to June 2021 stats.
The “Privilege Tax” collected by the state for June 2022 online sports betting activity in the legal statewide market equaled $2,559,649.
June, July, and August Are Typically “Slow” Months for U.S. Sports Betting
If current trends hold true (as they are expected to), the months of June, July, and August will form part of a downward seasonal trend for legal sports betting throughout the U.S. statewide market.
The NHL and total NBA seasons have both concluded. NCAA March Madness has long since ended. The NFL is still in its off-season, and MLB pennant races have yet to heat up.
This will all change in September once the NFL regular season begins and Major League Baseball nears its postseason.
U.S. states that have formally legalized online sports betting can expect a very meaningful spike in activity from sports bettors beginning this September. However, in the meantime, total bet amounts will likely remain stagnant month-over-month through August 2022.
Will Expanded 2022 MLB Postseason Improve Legal Sports Betting Volume?
The 2022 Major League Baseball postseason will feature a different format from previous years, with a total of three wildcard teams qualifying for the playoffs alongside each league’s division winners.
The Wildcard Round, scheduled to take place in early October, will consist of two “best of three” series (#3 seed vs. #6 seed and #4 seed vs. #5 seed) for both the American League and National League pennant races. The top two seeds from each league receiving a “bye” during the Wildcard Round.
This new format could generate a greater level of interest among hometown teams who would otherwise be disqualified from postseason action under the previous four teams per league postseason.
The Wildcard Round could also give an opportunity for lesser-favored teams to surprise one of the division winners en route to a World Series berth due to the best-of-three format in which an underdog will only be required to win two games in order to advance.
Place Real Money Bets Online In Tennessee
TNBets is your “one stop shop” for legal online sports betting in Tennessee.
Check out our Sports Betting Guide for a complete explanation on how to place legal online wagers within the Volunteer State (must be at least 21 years old), and find out how to make deposits and withdrawals onto legal sportsbooks apps in Tennessee.
TN sportsbook apps accept real money wagers on a wide variety of professional sports, and can accommodate nearly every possible “bet type” ranging from straight bets and totals (over/under) to futures bets and the ever popular single game parlays.
Some events even have “live betting” where customers can guess who will be the next scorer, or whether the next pitch will be ruled as a ball or strike.
It takes only a few clicks of a mouse (or taps of your smart device) to get started making real money bets online in Tennessee.
Once your account is verified by the legal online sportsbook of your choice, you can make a real money deposit and begin enjoying all the options that are available for sports bettors in Tennessee!