Tennessee Sports Betting Revenue Insights August 2025

Revenue Insights

$350.94M

June 2025 handle, down from May’s $440.64M.

Revenue Trends

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$32.38M

Sportsbooks’ gross gaming revenue for June.

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9.23%

June hold percentage, slightly higher than May’s 9.16%.

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$6.48M

State tax revenue from June betting activity.

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Sports Betting in Tennessee

Tennessee made history as the first U.S. state to legalize sports betting without physical casinos, opting for an online-only model. Legal wagering launched on July 1, 2020, allowing residents to place bets anywhere in the state without in-person registration.

Sportsbooks pay a 20% privilege tax on adjusted gross revenue, with proceeds distributed as follows: 80% to education, 15% to local governments, and 5% to mental health programs. This structure has delivered substantial tax revenue since its launch.

The market has grown steadily, setting records in 2024, including an October handle of $547.76M, demonstrating strong bettor engagement and operator success.

Interested in how different operators compare? Read our in-depth reviews of sports betting operators in Tennessee.

Annual Sports Betting Growth in Tennessee

Data is pulled directly from the Tennessee Sports Wagering Council Annual Reports

Source:

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Monthly Sports Betting Growth in Tennessee

Taxes

Data is pulled directly from the Tennessee Sports Wagering Council Monthly Reports

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Tennessee Sports Betting Revenue Performance

Tennessee has maintained strong growth in its online-only sports betting market since launching in July 2020, consistently generating high handle and tax revenues under the oversight of the Tennessee Sports Wagering Advisory Council.

Year	Handle	Revenue	Hold %	State Taxes
2020	312,344,523	27,219,590	8.75%	5,443,918
2021	2,730,459,000	196,500,000	7.56%	39,300,000
2022	3,850,547,906	340,264,805	8.82%	68,052,961
2023	4,292,352,235	417,787,565	9.82%	83,557,513
2024	5,271,379,978	485,802,815	9.22%	97,160,563
2025 Ytd	See monthly breakdown below	—	—	—

2025 Year-to-Date

Month	Handle	GGR	Hold %	Tax Revenue
Jan 2025	543,646,737	50,164,865	9.23%	10,032,973
Feb 2025	413,505,815	38,156,085	9.23%	7,631,217
Mar 2025	548,598,949	50,621,775	9.23%	10,124,355
Apr 2025	463,591,024	42,777,735	9.23%	8,555,547
May 2025	440,636,125	40,374,055	9.16%	8,074,811
Jun 2025	350,943,907	32,383,305	9.23%	6,476,661

Highlights

March 2025 recorded the highest handle of the year so far at $548.60M and the largest GGR at $50.62M.
January 2025 posted the second-highest handle, narrowly trailing March, with strong GGR and tax revenue.
May 2025 saw a dip in hold to 9.16%, the lowest of the year, but still produced over $8M in tax revenue.
June 2025 recorded the lowest handle of the year so far at $350.94M, reflecting seasonal trends.

Latest Tennessee Sports Betting Industry Updates

March 4, 2025 – Bet365 Launches in Tennessee
The prestigious sportsbook Bet365 entered the Tennessee market, expanding access and bringing in-game wagering with boosted odds and a promotional offer. [Bet365]
April 8, 2025 – SWC Strengthens Regulations
The Tennessee Sports Wagering Council (SWC) approved new rules, effective June 30, 2025, introducing multifactor authentication, expanded responsible gaming definitions, and tighter procedures for voiding or canceling wagers. [Tennessee Sports Wagering Council]
April–May 2025 – SWC Cracks Down on Illegal Operators
Fines totaling $200,000 were imposed on offshore sportsbooks like BUSR, BetUS, MyBookie, and XBet for unauthorized operations. In addition, BetOnline received a cease-and-desist notice, required to comply by June 16. [Tennessee Sports Wagering Council]

Tennessee Snapshot

Key Aspect	Details
Population	Approximately 7.2 million residents as of 2024. (World Population Review, 2024)
Political Affiliation	Predominantly Republican, Tennessee has a Republican trifecta, with the party controlling the governorship and both legislative chambers. (270towin.com, 2024)
Year Sports Betting Legalized	Tennessee legalized sports wagering on April 30, 2019, when Governor Bill Lee allowed the sports betting bill (House Bill 1) to become law without his signature. Tennessee's sports betting market launched on November 1, 2020, with online-only sportsbooks.
Number of Sportsbooks Operating	Eleven sportsbooks operate in Tennessee, including Action24/7, Bally Bet, Betly, BetMGM, Caesars Sportsbook, DraftKings, ESPN BET, Fanatics Sportsbook, FanDuel, Hard Rock, and ZenSports.
GGR 2025 (Jan-Jun)	$254,477,820
Handle 2025 (Jan-Jun)	$2,760,922,557
Professional Sports Teams	Tennessee is home to the Memphis Grizzlies (NBA), the Tennessee Titans (NFL), and Nashville SC (MLS).

FAQs

General Questions

Can I place a sports bet in Tennessee if I’m just visiting the state?

Yes. As long as you are physically located within Tennessee’s borders and meet the 21+ age requirement, you can place bets through any licensed online sportsbook, even if you’re not a resident.

Why doesn’t Tennessee have retail sportsbooks or casinos?

Tennessee chose an online-only sports betting model from the start. This approach allowed the state to launch without building physical casinos or betting venues, focusing instead on mobile and desktop betting.

How does Tennessee ensure sportsbooks operate fairly?

The Tennessee Sports Wagering Advisory Council requires all operators to use certified technology, submit regular reports, and maintain compliance with state rules. They also audit operators and can issue fines or revoke licenses for violations.

Are Tennessee sportsbook winnings taxed twice?

Yes. Winnings are subject to both federal and state income tax. Tennessee’s state income tax applies because gambling winnings are considered taxable income, and sportsbooks must report certain payouts to the IRS and state tax authorities.

Can I bet on college sports in Tennessee?

Yes. Tennessee allows betting on in-state and out-of-state college teams, but proposition bets on individual college athletes’ performance are prohibited to protect amateur athletes.

Sol Fayerman-Hansen

Editor-in-Chief

Sol Fayerman-Hansen is Editor-in-Chief at RG.org with 20+ years of experience in sports journalism, gambling regulation, and tech. His work has appeared in Forbes, ESPN, and NFL.com, covering U.S. and Canadian gambling laws, major sports events, and wagering trends. Since 2023, Sol has led RG.org’s global editorial efforts, focusing on transparency, data accuracy, and regulatory insight. He works closely with researchers and legal experts to uphold E-E-A-T and Trust Project standards.📍 Israel/Canada 🌐 English, Hebrew 🎯 Gambling law, responsible gaming, tech in betting

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