Tennessee collected $1 million less in taxes on sports gambling in September despite an $83 million increase in overall gross wagers in the state compared to September 2022.
The difference is a tax change that began in July where the state now has a 1.85% tax on total handle instead of the previous 20% tax on the sportsbooks’ adjusted gross income.
In September, the state saw $420 million in gross wagers compared to $337 million in gross wagers in 2022.
In August, the difference was less pronounced as it collected $400,000 less in taxes than a year before despite a $37.6 million increase in wagers for the month.
