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As the sports betting market continues to grow all over the world, the same thing is naturally happening in the USA. Both online and in-person gambling and sports betting is legal in many countries all over the world. Ever since New Jersey had a supreme court victory regarding sports betting, it has been possible for all states to legalize gambling and sports betting if they want to. As for now, twenty states have legalized it and a bunch more have already passed bills to do so as well. Tennessee is one of the states who recently legalized online sports betting. Keep on reading if you want to know more about how the sports betting market in Tennessee has evolved since then and take a look at https://www.wsn.com/sports-betting-usa/tennessee/ if you want to find the best online sportsbooks in Tennessee.
The months after
Online sports betting was legalized in Tennessee on November 1st in 2020. But how has the market then evolved since then? During the first month, the online gambling operators brought in a huge amount in gross wagers. No less than around $131,4 million was brought in, making the first month in business pretty successful. Tennessee was not predicted to bring in an amount like that, as sports betting has only been made legal online. Citizens in Tennessee only have the option to bet on sports online and are not able to do other forms of gambling like online casinos or in-person gambling or sports betting. Therefore the big amount brought in by the gambling operators was even more surprising, as the in-person casinos have played a big part in boosting the awareness of sportsbooks in other states.
The future of sports betting in Tennessee
The great start for the online sports betting market in Tennessee makes you think that the industry should have a bright future ahead. It is normal though, to have a big growth in the industry in the beginning. The numbers brought in are depending very much on the sports in season as well. If you start up when sports like basketball and football are in season, then more money will come in as more bets will be made. There will definitely be months in between the seasons where the betting sites will be less busy and wagers will decrease. In general, it does look like the sports betting market in Tennessee will keep up and it’s predicted to make some good numbers for the state. It is hard to predict though, so the future will have to show.
The industry and its progress in the USA in general
According to an article on Forbes.com, the sports betting industry is really promising and looks like it will keep on becoming bigger and more widespread in the years to come. Most states are looking to pass bills to legalize sports betting and gambling in general so the future of the industry looks bright. As for now, it’s interesting to watch how the industry progresses in the states. Where other countries have often started out with a foundation with in-person casinos and then later on also bringing online sports betting and gambling into the mix, the USA, as one of the newest players in the market, is currently ending up doing it the other way around. Here online sports betting and gambling is being rolled out first, becoming available in more and more places, whereas in-person casinos have yet to be legalized in the same way. It will be interesting to see the development in the USA as the industry spreads out more and becomes legal in the remaining states.