KNOXVILLE, Tennessee — Sports betting continues to be the gift that keeps on giving, with Tennessee outpacing states that have been in the game much longer, bringing in millions of dollars in revenue.
For Tennessee bettors, it’s their favorite time of the year.
“It’s a pretty big rush you get on there and see 30 different games you can bet on at one time,” said Shane Ptacek, a sports bettor.
Experts know just how big sports betting will be over the next month, with more bets in March than for some of the biggest professional events.
“There's nothing, nothing bigger than March Madness. It's bigger than the Super Bowl, bigger than NBA Finals,” said Bill Colleoni, CEO of Odds.com.
With all the success, the move to legalized sports betting will continue to pay off big time for the state.
“We're expecting the largest month to date 250 million is our projection for the month,” Colleoni said.
Tennessee close to outpacing Colorado, which has been in the game much longer.
According to Odds.com, for the month of March alone, the state is set to get $25 million in revenue and $5 million in tax dollars.
“Each month, the tax revenue has gone up by about almost a million…going into March, we're looking for another 700,000, 1 million jump in revenue,” said Colleoni.
The tax money going back to helping funding with schools, roads and communities all across the state.
Colleoni said Tennessee’s first-round loss in the tournament will have an impact on the overall state’s revenue.
“it's disappointing for Tennessee that the Vols couldn't pull it out versus Oregon State. But I think the interest will still be there overall,” said Colleoni.
Ptacek said even though his Volunteers are out of the big dance, that won’t stop him from placing bets.
“It’s March Madness you know there’s always something crazy that’s going to happen,” Ptacek said.
For more information on sports betting and a breakdown of the numbers, you can go to Odds.com.