Loss to Bengals Meant Big Day for Sportsbooks in Tennessee
The Tennessee Titans were not the only ones who lost Sunday.
Gamblers across the state paid a hefty price – literally – for the 31-20 defeat to the Cincinnati Bengals.
The game took place on the first day of legalized sports betting in Tennessee. Per a report from Gambling.com, no team generated more action out of the gate than the state’s only NFL franchise and the early enthusiasm made the Titans-Bengals game one of the two most-bet games nationally on Sunday (Minnesota-Green Bay was the other).
The Titans were 7-point favorites and the money line was -310 on them. The over/under was 51 points, which was a push as a result of Tennessee’s botched extra point after its final touchdown.
The outcome meant a tough day for the majority of those who placed bets but a good start for the sportsbooks.
“Our Tennessee launch went incredibly well,” Elisa Richardson, spokeswoman for BetMGM, told the website in an email. “It was our biggest new player signup day ever.”
BetMGM, which recently announced a partnership with the Titans, took sympathy on those in the new market and refunded all single bets up to $200 on the Titans (money-line and spread bets only).
From Gambling.com:
• In Tennessee, the Titans were the most wagered team, based on the handle and the number of bets on DraftKings, which did not release specific numbers. Additionally, bettors were thinking long-term. More wagered on the Titans than on any other team to win the Super Bowl.
• FanDuel reported that 76 percent of the money bet against the spread and 81 percent of the money line handle from Tennessee on Sunday was on the Titans.
Under state law, only online betting is allowed, which makes Tennessee unique among the 19 states that currently allow wagering on sports. Four operators have launched, and three others are engaged in the approval process with the Tennessee Lottery, which administers the sports wagering in the state.
The Titans (5-2) host the Chicago Bears () on Sunday at Nissan Stadium. Tennessee is currently a 5 1/2-favorite, -227 on the money line and the over/under is 46 1/2, according to DraftKings.
