Tennessee Sports Betting Handle Reached $274 million in July
The Tennessee sports betting handle totaled nearly $274 million in July – the lowest monthly handle of 2024 and the lowest since August 2023.
Tax Revenue Breakdown
Tennessee collected over $5 million in taxes from sports wagering in July 2024, more than nearly $4 million collected in July of the previous two years.
Tax revenue generated from July’s handle marks a positive start to the new fiscal year. Tennessee had just concluded the previous fiscal year with $87.6 million in privilege tax collections, a $4.3 million increase compared to the fiscal year ending in June 2023.
Tennessee’s current tax structure, which came into effect in July 2023, levies a 1.85% tax on gross handle. This replaced the previous 20% tax on adjusted gross income (AGI).
Reporting Practices in Tennessee
One notable aspect of Tennessee’s sports wagering system is its lack of transparency regarding sportsbook earnings.
Since July 2023, the state has ceased reporting the adjusted gross income of its sportsbooks and does not disclose data from individual operators.
Tennessee remains the only state with legalized sports betting that does not report monthly earnings figures for sportsbooks.
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