Tennessee Legal Sports Betting Generates Record $8.7 Million in Tax Revenues

Tennessee’s Sports Wagering Advisory Council has released data for the month of September showing that the state collected $8.7 million in taxes from legal sports betting.
Increase a direct result of new rules on how sportsbooks report profits

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.

A memo issued on June 15th outlined how sportsbooks must calculate their profits with a particular specification on how promotional bets in the form of odds boosts and deposit bonuses are reported.

Jenny Tang

Tennessee Legal Sports Betting Generates Record $8.7 Million in Tax Revenues