The Tennessee Education Lottery (TEL) revealed sports betting statistics for December, the state’s second month of authorized gambling, revealing a 5.3% month-to-month increase in income.
Tennessee sports betting activity surged to $180.9 million in December.
Gamblers placed a total of $180.9 million (£131.8 million/€149 million) on sporting events in December, a 37.7% jump from November, when the market launched on November 1.
The state’s consumers won $167 million from sports betting, indicating that Tennessee’s four authorized operators – DraftKings, BetMGM, FanDuel and local brand Action 247 – generated $13.9 million in revenue, up from $13.2 million in November.
After adjustments, the four operators paid a combined $3.1 million in taxes, based on the state’s current 20% gross revenue tax rate.
Sports betting taxes are distributed among specific state agencies, with 80% going to the Education Lottery account and 15% to the Tennessee General Fund.
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