NASHVILLE, Tenn. — Tennessee officials say the state's online-only sports betting program has seen $312.3 million in gross wagers in its first two months, yielding $5.4 million in privilege taxes.
The Tennessee Lottery announced figures Tuesday showing $180.9 million in gross wagers, $167 million in gross payouts and almost $3.1 million in privilege tax revenues from sports betting in December. All three topped the totals from November.
80% of the tax revenue goes into an education account that mostly funds post-secondary scholarships. 15% goes toward local government needs and 5% funds gambling problem treatment programs.
Four sportsbooks are operating. Three more could be by the Super Bowl.
