Tennessee Releases July Gambling Numbers Without Revealing Sportsbooks’ Profit

Tennessee’s Sports Wagering Council Released The State’s July Numbers This Week, Showing The State Collected Nearly $4 Million In Privilege Taxes. But Those Numbers No Longer Include Any Information On How Much Money The State’s Sportsbooks Made.

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Tennessee Collected $8.8M In Taxes On $392.7M In Sports Wagers In March

Tennessee Collected $8.8 Million In Taxes On Sports Wagering In March On $392.7 Million In Wagers. The Tax Collections Were The Third Highest Since Online Sports Wagering Began In Tennessee In November 2020 And Coincided With The NCAA Basketball Tournament.

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Tennessee Council Approves Renewal Of Licenses For First 4 Online Sportsbook Operators

The Tennessee Sports Wagering Advisory Council Approved The Renewal Of The Licenses Of The State’s Four Initial Operators — FanDuel, BetMGM, DraftKings And Action 24/7 — At Its Monday Meeting.

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TN Adjusts Online Sportsbook Accounting Requirements, Leading To Increase In Taxes Collected On Earnings

After Executive Director Mary Beth Thomas And The Tennessee Sports Wagering Council Took Over The Management Of Online Sports Betting In The State To Start 2022, Thomas Vowed To Review How Sportsbooks Were Reporting Their Earnings And Therefore Paying Taxes.

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