Tennessee collected $8.8 million in taxes on sports wagering in March on $392.7 million in wagers. The tax collections were the third highest since online sports wagering began in Tennessee in November 2020 and coincided with the NCAA basketball tournament.
The state’s sportsbooks paid out $347.2 million on March wagers and had an adjusted gross income of $43.7 million. The Tennessee Sports Wagering Advisory Council does not release sportsbook-specific numbers.
The numbers were released as the Tennessee Legislature is moving a bill to adjust the state’s taxing process for sports gambling. Last week, the Senate approved a bill to tax all gross wagers 2% instead of the current 20% tax on sportsbooks’ adjusted gross income.
