Over $14 billion in sports bets and $261 million in taxes collected for Tenn.

NASHVILLE, Tenn. (WZTV) — Since the legalization of sports betting in Tennessee in June 2019, the state has seen over $14.7 billion in bets placed, generating over $261 million in taxes according to a recent publication from Legal Sports Report from the third quarter of 2024. Tennessee was the first state to go fully online for sports betting, allowing people to place bets on their phones or computers.

This approach has paid off, with sports betting in Tennessee continuing to grow each year.

In September 2024, bettors in Tennessee placed $520 million in wagers, with tax revenues reaching over $9.6 million. The return of football season played a big part in this surge, as it remains the most popular sport for betting in Tennessee.

The new betting industry has provided a new source of revenue for the state, funding important public services. With more than $14 billion in total bets since 2020, Tennessee can serve as a leading example of how to build a thriving sports betting market.

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