Alabama Pushing For Sports Betting
The state of Alabama could be looking to pursue the legalization of sports betting in 2021 if it follows the advice of a study group.
The Governor’s Study Group on Gambling Policy released its finding this week, and sports betting was one area that could bring in plenty of tax revenue for the state.
That group projected that Alabama could generate close to $700 million in gambling revenue each year, with about $10 million of that coming from sports betting. Casinos were expected to generate close to $400 million, while a state lottery could bring in close to $300 million in tax revenue each year.
Around the Region
There are just five total states in the U.S. without a state lottery, and Alabama is one of these jurisdictions. Launching a state lottery will likely be the first step, but casinos and sports betting could be coming at some point as well.
Governor Kate Ivey has not yet offered any support to legalizing gambling or sports betting, but it is something that she has been looking to explore. An amendment to the Alabama State Constitution would be needed if either of these industries were to be legalized.
One major reason sports betting has been brought up in Alabama is that now two border states have launched the industry. Both Mississippi and Tennessee now have sports betting, and that is taking away some revenue from Alabama.
Georgia is also exploring the possibility of legalizing sports betting, but that discussion is still in the early stages. Residents in Alabama will begin to put pressure on lawmakers to explore this industry, or they will head across the border to other states to place their bets.
Projecting Tennessee Sports Betting Figures
The Tennessee Education Lottery has not yet released the official sports betting figures from November, but they are expected to surpass expectations. GeoComply is the location service used in Tennessee, and it gives a pretty good estimate of what November sports betting numbers might be.
From November 1-8, the total sports betting handle was around $27 million, which was a massive first week for the industry. Those numbers are expected to continue to climb, and that could mean a big month for the state of Tennessee.
Using the figures from the first week and from GeoComply, estimates have the total sports betting handle between $125-$135 million for November. This number would fall well short of some of the biggest markets in the U.S., but it would be a huge first month for Tennessee.
Tennessee is a mobile-only sport betting market, meaning that there aren’t any retail sportsbooks. Mobile sports betting, especially on a dedicated sports betting app, has dominated throughout the United States, and it has helped the Volunteer State get off to a strong start.
If Tennessee continues to post impressive numbers, the state could go over the $200 million mark at some point in the next few months. The legalization of sports betting in Alabama will add some competition, but Tennessee will be well established at that point.
Check back for more TN sports betting news and the latest sports news in The Volunteer State.
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