Latest Tennessee Sports Betting Revenue and Handle Information

The experts at BetTennessee.com have developed this guide to help you better understand the terms used when discussing Tennessee sports betting revenue and handle. The state releases those figures monthly.

Tennessee lawmakers passed a bill to legalize sports betting in April 2019, and the law officially took effect on July 1, 2019. The first sportsbooks opened in the state in November 2020. The Volunteer State was the first to legalize online wagering only and exclude brick-and-mortar establishments from setting up shop.

Currently, there are 13 operators, some with Tennessee sportsbook promos available, licensed to take wager in the state. The most recent was ZenSports, which was approved in May 2023.

Tennessee Sports Betting, June vs. May

Note: Tennessee’s sports betting market is all mobile. The state no longer reports monthly revenue, only handle and taxes. 

Tennessee Sports Betting Handle and Revenue: June 2024

The annual summer sports betting slump isn’t hitting Tennessee as hard as it has in other states.

June’s wagering traffic declined in the Volunteer State compared to May, but it was down by less than 10%, and it also grew significantly in a year-over-year comparison to 12 months earlier.

Bettors wagered $342,198,408 in June, a 9.8% decline from the $379,220,245 reported in May in a month-over-month comparison. Last month’s action represented a 48.6% jump from June 2023, when sportsbooks took $230,337,515 in bets.

Part of the reason for the significant year-to-year increase might be due to the Tennessee Volunteers baseball team, which won its first College World Series championship. The event lasted 10 days and caught the attention of many across the state. While most people prefer to wager on just college and pro basketball and football, sportsbooks have found viable markets in what used to be considered niche events.

Tennessee reaped $6,315,166 for the month thanks to the 1.85% tax it places on the handle. That’s down 9.8% from May’s $6,998,418. It’s also an increase of 36.2% from June 2023’s total of $4,635,761. June 2023 was the last month for the state’s 20% tax on operator revenues.

Since last July, Tennessee has been the only state that taxes licensed sports betting operators based on the handle, or amount wagered. Because of this, the Tennessee Sports Wagering Council no longer releases how much the sportsbooks won in its public reports and we are unable to update our month-by-month chart.

Tennessee Mobile Sports Betting History