Tennessee’s Handle Tax Proving Its Worth In September

NASHVILLE, Tenn. – Tennessee doesn’t have to worry about who wins on Sunday. The Tennessee Sports Wagering Council’s September report shows sportsbooks took $588.6 million in bets , up 4.9% from last year. Tennessee’s taxes rose by the exact same 4.9% to $10.9 million. Since July 1, 2023, Tennessee has taxed 1.85% of every dollar bet instead of 20% of what sportsbooks keep. Signed by Gov. Bill Lee in May 2023, Public Chapter 450 also bars sportsbooks from deducting winning payouts or promotional bets. The result is a tax bill that moves with betting , not with bettors’ luck.