Tennessee’s 13 digital sportsbooks administered a historic pounding to bettors in the month of August in posting a 13.2% win rate, according to figures released late Thursday by the state’s Sports Wagering Advisory Council.
It was just the fifth time in 22 months of sports wagering in the Volunteer State the house had a 10% or better hold, and August’s percentage demolished the previous record of 10.5% set in June 2021.
State rules require sportsbooks to achieve a 10% hold. If they fail to do so, they can be fined $25,000 or opt to make a privilege tax payment equal to the difference between what they would have paid had they adhered to the hold and what they actually paid. The 10% hold has been a sore spot for operators, considering the industry standard nationally is 7%.