The Tennessee Education Lottery reported a month-on-month decline in sports wagering revenue and handle for July, as consumer spending slipped to its lowest total since the state opened its regulated market in November last year.
Revenue for the month amounted to $13.4m, down 16.8% from $16.1m in June and the lowest monthly amount since $13.0m in February this year.
Player wagered a total of $144.5m during the month, a drop of 17.2% from $174.5m in June and the least amount spent by players in a single month since Tennessee’s market launched in November 2020.
Consumers won $129.4m from sports betting in July, while the state was able to generate $2.6m in tax from sports wagering activities during the month.
Online and mobile wagering was first legalized in Tennessee in July 2019 after Governor Bill Lee allowed a bill permitting it, SB0016, to pass without his signature.
In nine months since the market launched in November of last year, revenue amounted to $135.6m.