Tennessee sports betting handle reaches $517.1m in November

The handle was up 16.16 per cent from October.

US.- Tennessee’s sports betting handle was $517.1m in November, according to Tennessee’s Sports Wagering Advisory Council (SWAC). It was up 16.16 per cent from October and 17.68 per cent year-over-year.  It’s the first time the handle exceeded $500m since launch in November 2020.

Sportsbooks took $1.63m in adjustments, up 16.78 per cent from October but down 22.37 per cent year-over-year. Tennessee collected $9.51m in privilege fees. 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.