by Jon Styf
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 percent of taxes to the Lottery for Education program, 15 percent to the state’s general fund and 5 percent 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 percent tax on gross handle, which replaced a 20 percent 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.
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Jon Styf is a Staff Reporter at The Center Square.
Photo “Mobile Sports” by dawnfu.
But it’s for the children. Not
Tennessee government is so very proud of running the state with gambling proceeds. I wonder how much of that loot was food taken out of the moths of children. Disgusting.