Tennessee sports betting handle reaches $465.8m in January

Tennessee’s sports betting handle increased by 13.4 per cent year-over-year.

US.- Bettors in Tennessee wagered $465.8m on sports in January, according to Tennessee’s Sports Wagering Advisory Council (SWAC). The handle was up 13.4 per cent from the $410.8m generated in January 2023 but down 5.6 per cent from December ($493.3m).

According to the Tennessee SWAC, the state generated $8.6m in privilege tax from sports wagering during the month.

In July 2023, Tennessee became the only state taxing sportsbook operators on handle after Senate Bill 475 changed the system from revenue to a 1.85 per cent levy on handle. Some 80 per cent of the taxes go to education, 15 per cent for distribution to local governments and 5 per cent to mental health programmes.