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Volume 26 No. 50
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Tennessee Politicians Mull Legalizing Sports Betting In '19

After the U.S. Supreme Court ruling last year paved the way for legal sports gambling, states like Tennessee are still deciding "how to move forward with legalizing the online platforms that facilitate it," according to a front-page piece by Natalie Allison of the Nashville TENNESSEAN. While Tennessee Gov. Bill Lee has said that he "morally opposes legalizing gambling, Democrats and Republicans in the Volunteer State have filed legislation this session that would legalize forms of sports betting." The issue has "generated input from a variety of stakeholders, including the state itself, cities, online gambling platforms and professional sports teams." So far this session, lawmakers have "joined forces across party lines in an effort to create a legal means of sports gambling in Tennessee." Officials in Memphis have been "particularly interested in legalizing sports betting, which is legal and available at casinos in nearby Tunica, Mississippi." The state would collect a 10% state "privilege tax from sports betting operators" (Nashville TENNESSEAN, 2/14).

New Jersey sportsbooks in January saw the highest monthly total of money wagered

RAKING IT IN: The AP's Wayne Parry reported gamblers betting on the NFL Playoffs "online or over their phones during the January run-up to the Super Bowl" helped make more than $385M in sports bets in New Jersey. It was the "highest monthly total yet" for the state. Figures released yesterday show nearly $305M of that was "made by gamblers online or on mobile devices." The extra money "helped Atlantic City's nine casinos collectively post a year-over-year increase" in revenue of nearly 20% in January to $220M. January's total eclipsed the $330M in bets that New Jersey gamblers made in November, the "previous high-water mark." The month included three weeks of football playoffs, as well as 11 days of betting on the Super Bowl. The Atlantic City casinos made nearly $10M in revenue from sports betting in January; when the Monmouth Park ($2M) and Meadowlands ($7M) racetracks are included, the combined statewide sports betting revenue was nearly $18.8M (AP, 2/13).

HOW THEY STACK UP: In New Jersey, Stephen Edelson notes the FanDuel Sportsbook at the Meadowlands produced gross revenues of just over $7M, including some $5.8M online. That number is down from the $9.1M in gross revenues generated in December. The DraftKings Sportsbook at Resorts Casino in Atlantic City was the "leader in online revenue" generated at $6.9M. The Monmouth Park Sports Book by William Hill produced gross revenues of $2M, down from $2.3M it produced in December (ASBURY PARK PRESS, 2/14).