August sports gambling generates $2M in Tennessee tax revenue, on handle of $144.5M

August sports gambling generates $2M in Tennessee tax revenue, on handle of $144.5M

Article brief provided by The Center Square
  • Jon Styf, The Center Square
September 28, 2021 1:06 AM
  • Jon Styf, The Center Square

Daily Tennessee sports gambling numbers for August matched those of July with around $4.7 million bet per day, according to numbers released Monday by the Tennessee Education Lottery.

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Bettors placed $144.5 million in wagers in August that led to $13.2 million in gross gaming revenue and $10.1 million in taxable revenue. Sports betting generated $2 million in tax revenue for the state.

“After an up and down summer, it would’ve been encouraging to see some growth in handle ahead of what is a crucial period in the industry,” said Nicole Russo, an analyst for PlayTenn.com. “No sport motivates bettors like football, though. And a surge in betting this fall will put an end to the slower summer months.”