US.- According to Tennessee's Sports Wagering Advisory Council (SWAC), sports wagers in Tennessee totaled $405 million in October. This is an increase of 20.3% over September's $336.9 million and an increase of 8% over the same month in 2021. Additionally, it breaks the prior high of $386 million established in January, setting a new state record.
The state's sportsbooks collected $34.8 million in adjusted gross revenue. Given the 20% tax rate on net revenue from sports betting, the state received $6.9 million in taxes, which is its second-highest monthly haul to date and significantly more than the $3.4 million in taxes reported for the same month in 2017. 20
The state's sportsbooks collected $34.8 million in adjusted gross revenue. Given the 20% tax rate on net revenue from sports betting, the state received $6.9 million in taxes, which is its second-highest monthly haul to date and significantly more than the $3.4 million in taxes reported for the same month in 2017. 20
