Tennessee and Colorado Report April Sports Betting Numbers

tennesseestateflag160X89It was a big news day for the sports betting industry on Tuesday as both Colorado and Tennessee reported the April sports betting numbers. The news wasn’t great for the US sports betting industry as both states posted significant drops from the month of March.

The total sports betting handle in Tennessee fell by more than 16% after an impressive month of March. With the decrease, the total handle came in at just $172.4 million.

The April total might not have been that impressive, but it did push Tennessee over the $1 billion mark in total sports betting handle since November. This is the fastest that any state has gone over that number, passing up some large sports betting markets.

Colorado’s sports betting handle fell by 18.3% during the month of April, with the total coming in at just $244.1 million. The state went over $300 million with an impressive month of March, but the momentum could not carry into another month.

April marked the 12th full month of legal sports betting in Colorado, and it was an impressive first year. There was slightly over $2.3 billion wagered in the state since sports betting launched on May 1, 2020.

WynnBET Now Live in Tennessee

wynnbetlogosmalltableWynnBET launched mobile sports betting in Tennessee in April, but it happened on the last day of the month. May could provide an increase in numbers as bettors in the state now have another solid online betting option.

The online sports betting market in Tennessee now has seven sportsbooks up and running, and the state has some of the biggest names in the industry. BetMGM, FanDuel, and DraftKings have dominated the market share, but William Hill and TwinSpires have also proven to be a popular option.

There have been some issues with some of the operators in Tennessee, but the Action 24/7 licensing issue has been resolved.

Online Betting Carrying Colorado

Colorado is a state that has both online and retail sports betting options, but mobile has clearly led the way. In April, online sports betting made up 99% of the total handle, and that number was 98% during the month of March.

Basketball continues to be a popular sport to bet on in the state, and that momentum should continue at least through July. NBA basketball made up more than $84 million of the handle, and college basketball brought in $6.8 million in wagers.

Table tennis continues to be a top-five betting market, bringing in $9 million in total handle for April.

Rough Month For Entire US

The numbers from Colorado and Tennessee followed a trend that was set from other states that reported numbers earlier in the month. Even some of the top sports betting markets had a major drop in April, although it was to be expected.

New Jersey and Pennsylvania both saw sports betting handle fall by more than 13%, but the figures were still impressive. New Jersey posted a total sports betting handle of $748 million, and Pennsylvania came in at $479.4 million.

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