- Tennessee has collected about $493.9 million in sports betting privilege taxes since launching in November 2020, about $6.1 million short of $500 million.
- The first $100 million took two years, while the latest took 11 months.
- October set all-time monthly records for handle at $669.3 million and privilege taxes at $12.4 million.
NASHVILLE, Tenn. – Tennessee is closing in on $500 million in sports betting taxes. The Tennessee Sports Wagering Council’s October report shows the state collected a record $12.4 million in privilege taxes, pushing its total since November 2020 to about $493.9 million.
That leaves Tennessee about $6.1 million short, roughly half of the $11.9 million it collected last November. The first $100 million in Tennessee sports betting taxes took two years to arrive in November 2022, but each one since has come faster, with the latest taking 11 months.
| Year | Privilege Taxes | Running Total |
|---|---|---|
| 2020 | $5.4 million | $5.4 million |
| 2021 | $39.3 million | $44.7 million |
| 2022 | $68.1 million | $112.8 million |
| 2023 | $83.6 million | $196.4 million |
| 2024 | $97.2 million | $293.5 million |
| 2025 | $107.6 million | $401.1 million |
| 2026 (through October) | $92.8 million | $493.9 million |
This year is running 8.2% ahead of 2025, which brought in $85.8 million through October on its way to the state’s first $100 million year.
Record October For Tennessee Sports Betting
The October report also set an all-time monthly record with $669.3 million in gross handle, topping the previous high of $653.7 million set last October. It’s the latest in a run of growing Octobers, as handle has climbed every year since $375.3 million in 2021. However, this year’s 2.4% gain was the smallest of the bunch.
Because Tennessee now taxes 1.85% of handle instead of sportsbook revenue, a record month for bets is also a record month for the state, no matter how bettors fared against legal sportsbooks. October’s $12.4 million topped the $12.1 million collected last October.
The record followed a $588.6 million September, now the fifth-biggest month in state history.
