Tennessee Sportsbooks Have Another Record Month with $440.4 Million in December Bets

Tennessee set records again for sports wagering in December with $440.4 million in bets placed.

That led to $9.4 million in taxes paid, ahead of the $9 million collected in November. That’s up from $3.3 million in taxes collected with $341.8 million in bets in December 2021.

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Sports Betting Projected to Net Millions in Tax Revenue for Tennessee

Sports fans in Tennessee placed the first legal sports bets in the state this week, as sports wagering became legal Sunday.

Sports wagering is estimated to generate up to $4.5 billion in revenue each year, according to a study by Oxford Economics. The state will collect about 20 percent of that revenue – the second-highest tax rate on sports betting in the country – to support scholarships in the state.

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