Increase a direct result of new rules on how sportsbooks report profits
The latest figures represent the highest amount collected by the state since Tennessee sports betting launched in November 2020. The previous record of $5.9 million was set in November 2021.
The report also reveals that Tennessee gamblers wagered $336.9 million on sports throughout the month of September, the sixth largest sports betting handle since the industry launched. The state record still sits at $386 million set in January 2022.
According to the Council, taxes were expected to increase significantly following a decision by regulators to implement new standards for how earnings are reported and how resulting taxes are then calculated.
Tennessee Legal Sports Betting Generates Record $8.7 Million in Tax Revenues Tennessee Legal Sports Betting Generates Record $8.7 Million in Tax Revenues
An experienced iGaming commentator and analyst based in New York City - Jenny reports on regulation and gambling industry news and events.