Tennessee posts impressive November sports betting numbers
The Midwest portion of the United States had a huge year in 2020, and the state of Tennessee capped things off in November.
The Tennessee Education Lottery just released the November sports betting numbers, and this state could become a huge force in the industry.
Tennessee actually set a new industry record in November by posting the highest first-month handle ever recorded. This comes despite plenty of competition from states surrounding Tennessee all doing well.
Total Tennessee sports betting handle came in at $131.4 million, according to the Tennessee Education Lottery. All of this handle was brought in online as there are no retail sportsbooks in Tennessee.
Indiana previously held the monthly handle record, but that number was just $35.2 million, set in September 2019. Other states that launched in 2020 had to deal with the COVID-19 pandemic, but that was not the case in Tennessee.
Many people questioned what took so long to launch mobile sports betting in the state, but it appears that the Tennessee Education Lottery knew exactly the right time to launch.
Mobile sports betting launched at a time when both NFL and college football were up and running. Tennessee also had some very well-known sportsbooks ready to go from Day 1, which helped set the record.
New Jersey is now the clear leader in sports betting in the US, but it took that state four months to go over the $130 million mark. It took the state of Pennsylvania almost a full year before it posted a handle over $130 million.
Tennessee still has a long way to go to become one of the leaders in the sports betting industry, especially as it looks to catch Illinois. Illinois posted a sports betting handle of more than $434 million during October, and the November numbers have not yet been released.
Accel Entertainment Facing Massive Fine
Accel Entertainment is facing a massive fine from the Illinois Gaming Board for an agreement that the company made with DraftKings. Accel Entertainment is a video game terminal distributor, and DraftKings is the leader in sports betting in Illinois.
Accel currently distributes more than 2,300 video game terminals throughout the state of Illinois, and these machines feature promotional advertising from DraftKings. Accel Entertainment was hoping that attaching its brand with a major sportsbook would entice more businesses to request video game terminals.
According to the Illinois Gaming Board, this is an illegal process, and it is seeking a $5 million payment in fines. This is a massive penalty being handed down by the Illinois Gaming Board, and Accel Entertainment has already announced that it plans to fight the charge.
Accel sent out an email to clients earlier this year announcing its partnership with DraftKings and explaining how this would boost business with the terminals. Shares of Accel have continued to increase in value based on this partnership with DraftKings, and the company is hoping that the appeal reduces the fine or eliminates the penalty altogether.
Check back for more TN sports betting news and the latest sports news in The Volunteer State.
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