At a time when we’re seeing record gambling revenues from Las Vegas to Atlantic City, we may lose sight that Colorado and Tennessee sports betting are also doing well.
Actually, Colorado just set a new record for their sports betting handle with just over $408 million in the month of September. The monthly revenue for the state was more than $22 million, which barely missed setting another record for revenue in a month. Their best month ever was slightly over $23 million.
Meanwhile, Tennessee sports betting is doing better than anyone expected. The state’s Education Lottery there have been $1.7 billion placed in bets since launching at this time last year. Those bets produced nearly $157 million in revenue, which in turn generated $2.8 million in tax revenue for the state.
After being the quickest state to ever reach $1 billion in wagers, Tennessee is now expected to finish its inaugural year of sports betting regulation as the fourth most successful, trailing only Illinois, Colorado, and of course New Jersey.
Colorado has continued to set sports betting records since they launched in May of last year. Even their first month of operation was amazing as they hit $25 million.