Recently, the Tennessee Education Lottery’s monthly meeting was held, in which the lottery authorities revealed that the state had been the fastest to break the $200 million mark in bets.
During January, Tennesseans wagered $211 million, representing a growth of 16.6% compared to December, in which there were $180.9 million in bets.
Also, in just three months of having legal sports betting, the state has reached a record of $523 million in betting, something that no other state has achieved in the same period.
The market will continue to grow
In the coming months, the market is expected to continue growing. As new operators are preparing to offer their betting platforms.
Until now, many of the big brands in the industry have stayed away from Tennessee. Due to its policy of 10% hold rate and unusually high 20% tax rate.
But with the dynamism that this market shows, companies like William Hill have already submitted their application and reportedly have already obtained approval to start operating in the coming weeks.
Pay Per Head Bookies and Tennessee
The amount of money that has been moved in gambling in Tennessee with only four official sportsbooks is incredible.
This shows that there is still a lot of markets to cover. And Pay Per Head Bookies may be the ones to meet the growing demand for gambling in the volunteer state.
The big brands that want to enter the state will have to wait for the authorities’ approval to start their operations. In contrast, Pay Per Head bookies can offer their services right now.
With a marketing strategy that includes ads on social networks and local Tennessee media. It is possible to reach potential bettors directly.
Recall that federal laws allow gambling with offshore operators. Bookies must educate and make known to potential Tennessee gamblers that they can use their gambling services without any problems.
Also, bookies must present betting options that are attractive to Tennesseans. For example, it is estimated that 60% of the bets in the last three months were on NFL games.
For this reason, bookies can offer prop bets for the following NFL season to attract some potential bettors.
In a word, Tennessee has shown the potential of sports betting. And the huge profits that bookies who are vigilant and take advantage of new markets can make.
