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Tennessee collects $7M in sports gambling taxes on $384.2M in wagers in April

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(The Center Square) – Tennessee saw $384.2 million in sports wagers in April with $7 million in taxes collected.

That was up from $318.4 million in wagers and $6.4 million of taxes collected in April 2023.

Tennessee sends 80% of taxes to the Lottery for Education program, 15% to the state’s general fund and 5% to gambling disorder and addiction programs.

Tennessee collected $8.7 million in privilege tax collections on $473.5 million in wagers in March.

Tennessee levies a 1.85% tax on gross handle, which replaced a 20% tax on adjusted gross income that was in place until July.

Tennessee stopped reporting the adjusted gross income of the state’s collective sportsbooks midway through 2023 and does not report data from individual sportsbooks.

Tennessee is the only state with legalized sports wagering that does not report how much the sportsbooks make on bets monthly.