On July 1, 2019, the Tennessee Sports Gaming Act came into effect as Gov. Bill Lee agreed to allow the bill to become law without his signature.
Gov. Lee vehemently opposed gambling but understood that legal online sports betting was in his state’s best interest.
In 2026, there are 12 legal online Tennessee sportsbooks. bet365 is the newest operator to join the fray, having gone live on March 16, 2025.
Tennessee sports betting revenue
Tennessee sports betting began on November 1, 2020, and is a online-only market. The Volunteer State generated $5.29 billion in total sports betting handle in 2024.
Below is an outline of Tennessee's sports betting figures over the years.
*Tennessee no longer reports the gross revenue of operators. Figures are estimates.
Tennessee annual data
| Year 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| 2025 | $4,682,209,160 | $365,500 | 11.9% |
| 2024 | $5,297,710,042 | $578,856,504 | 10.9% |
| 2023 | $4,295,669,943 | $466,124,656 | 10.9% |
| 2022 | $3,850,547,906 | $378,409,891 | 9.80% |
Tennessee 2025 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan* | $548,973,451 | $67,700 | 12.1% |
| Feb* | $417,400,387 | $52,200 | 12.5% |
| Mar* | $551,767,409 | $41,400 | 7.5% |
| Apr* | $466,538,112 | $51,000 | 10.9% |
| May* | $440,636,125 | $56,700 | 12.9% |
| June* | $352,491,479 | $54,000 | 15.3% |
| July* | $305,140,756 | $42,500 | 13.9% |
| Aug* | $375,882,441 | - | - |
| Sept* | $565,341,000 | - | - |
| Oct* | $658,038,000 | - |
Tennessee 2024 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan* | $467,403,058 | $60,800 | 13% |
| Feb* | $380,390,401 | $38,000 | 10% |
| Mar* | $473,595,403 | $41,900 | 8.8% |
| Apr* | $384,219,719 | $44,000 | 11.5% |
| May* | $381,801,113 | $48,356 | 12.7% |
| June* | $344,792,936 | $40,300 | 11.7% |
| July* | $273,927,581 | $37,800 | 13.8% |
| Aug* | $344,396,828 | $37,800 | 11.0% |
| Sept* | $524,733,295 | $70,000 | 13.3% |
| Oct* | $551,170,451 | $44,600 | 8.1% |
| Nov* | $598,564,013 | $77,200 | 12.9% |
| Dec* | $572,715,244 | $38,100 | 6.7% |
Tennessee 2023 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $410,773,606 | $41,392,586 | 10.10% |
| Feb | $327,326,201 | $33,943,931 | 10.40% |
| Mar | $392,667,304 | $45,506,700 | 11.60% |
| Apr | $318,416,216 | $34,257,592 | 10.8% |
| May | $279,794,996 | $37,097,192 | 13.3% |
| June | $230,337,515 | $25,526,655 | 11.1% |
| July* | $215,489,157 | $28,200 | 13.1% |
| Aug* | $243,456,822 | $25,800 | 10.6% |
| Sept* | $420,006,053 | $47,600 | 11.3% |
| Oct* | $445,192,913 | $52,700 | 11.8% |
| Nov* | $517,141,377 | $34,200 | 6.6% |
| Dec* | $495,067,783 | $59,900 | 12.1% |
Tennessee 2022 monthly data
| Month 📅 | Handle 💵 | Gross revenue 💰 | Hold % (average) |
|---|---|---|---|
| Jan | $386,059,756 | $36,249,453 | 9.40% |
| Feb | $313,298,305 | $20,945,018 | 6.70% |
| Mar | $370,230,004 | $26,520,468 | 7.20% |
| Apr | $292,796,670 | $26,142,800 | 8.90% |
| May | $261,582,468 | $27,315,928 | 10.40% |
| Jun | $215,774,186 | $15,855,649 | 7.30% |
| Jul | $182,769,323 | $18,174,226 | 9.90% |
| Aug | $205,863,860 | $27,200,883 | 13.20% |
| Sep | $336,933,437 | $46,285,200 | 13.70% |
| Oct | $405,337,575 | $37,295,159 | 9.20% |
| Nov | $439,456,908 | $47,248,222 | 10.80% |
| Dec | $440,445,414 | $49,176,885 | 11.20% |
Tennessee sports betting at a glance
- Launch date: November 2020
- Regulator: Tennessee Sports Wagering Advisory Council (TSWAC)
- Latest reported month: September 2025
- Lifetime handle: $20,443,941,841
- Lifetime revenue: $2,023,258,912
- Last updated: December 25, 2025
Note: Tennessee reports sports betting revenue on a monthly basis. Figures below reflect combined online and retail wagering unless otherwise specified by the regulator.
About sports betting revenue in Tennessee
Tennessee legalized sports betting in 2019, with online and mobile wagering officially launching in November 2020 under the oversight of the Tennessee Sports Wagering Council.
The state operates under a mobile-only sports betting model, with no retail sportsbooks permitted. All wagering is conducted through approved online platforms, making Tennessee one of the first states to launch without any casino or in-person betting component.
The Tennessee Sports Wagering Council publishes monthly sports wagering reports detailing statewide handle, gross gaming revenue, and tax collections. These reports reflect mobile betting activity exclusively and serve as the primary source for tracking market performance.
Because Tennessee’s market is entirely digital and lacks retail influence, its revenue figures are best viewed as indicators of mobile adoption and online betting behavior rather than destination-driven or casino-anchored activity.
How to read revenue numbers
- Handle represents the total amount wagered by bettors during the month.
- Revenue reflects sportsbook winnings after payouts, before expenses.
- Hold is calculated as revenue divided by handle, expressed as a percentage.
Monthly revenue can fluctuate significantly due to seasonality, betting mix, and the outcomes of major sporting events.
Tennessee sports teams you can bet on
While it’s legal to bet on hometown teams in Tennessee, it’s important to ensure that sports fans research all bets and place them carefully. As much as you may like the Tennessee Titans or the Memphis Grizzlies, always try to stay objective when assessing your favorite team’s odds of coming out on top. Brush up on key terms and bet types with our how to bet guides.
Although no upcoming fights are scheduled in the Volunteer State, the best UFC betting sites and top boxing betting sites allow you to easily browse the markets and back fighters you can cheer on as passionately as your hometown teams.
Tennessee sports betting law
Tennessee sports betting law mimics the European-style licensing system, allowing unlimited online and mobile wagering licenses.
Take a closer look at the legal Tennessee sports betting environment:
- The Sports Wagering Advisory Council regulates sports betting in Tennessee.
- Persons 21 years of age can partake in Tennessee sports betting.
- 13 online sportsbooks operate within Tennessee.
- Wagering on college sports and the NFL Draft is legal in Tennessee.
- Betting on esports is regulated, and each league and its events must be submitted for approval first.
- Tennessee does not tax lottery winnings, but the federal government does.
- Sports wagering is taxed at 20% of gross gaming revenue (GGR).
- House Bill 1 authorizes online and mobile wagering on professional and collegiate sporting events.
Covers and credibility
We have had our finger on the pulse of the sports betting industry for more than 25 years. The sports betting revenue figures and statistics found here have been personally reviewed, verified, and fact-checked to ensure their validity.
News outlets turn to Covers for our earned reputation as a trusted and authoritative source of sports betting information. These are among the notable publications and media outlets that have referenced Covers.com and our industry experts.
More industry resources
As states continue to authorize legal sports betting — now 38 states plus DC, consult these informational websites for additional information on the sports betting industry:
- American Gaming Association (AGA): Organization dedicated to advancing the gambling industry's interests by promoting, educating, and advocating for responsible gambling.
- Professional and Amateur Sports Protection Act (PASPA): Supreme Court of the United States ruling.
- National Council on Problem Gambling: Those seeking help for a gambling problem can call 1-800-GAMBLER toll-free, 24/7.
Related sports betting revenue coverage
U.S. Sports Betting Revenue Tracker
Monthly Sports Betting Revenue by State: Arizona | Arkansas | Colorado | Connecticut | DC | Illinois | Indiana | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Missouri | Nevada | New Hampshire | New Jersey | New York | North Carolina | Ohio | Oregon | Pennsylvania | Rhode Island | Tennessee | Vermont | Virginia | West Virginia | Wyoming
Sports betting revenue tracker FAQ
The sports that generate the most sports betting revenue can vary depending on factors such as the sport's popularity, the betting market's size, and the timing and frequency of significant events. Football stands as the most popular sport for betting in the United States, with the NFL generating the highest revenue. The Super Bowl alone is one of the world's most-watched and bet-on sporting events. Basketball is also a popular sport for betting, particularly in the United States where the NBA lays claim to the top basketball league in the world.
Sports betting revenue varies greatly depending on the region, market, and size of the industry. However, in many jurisdictions, sports betting can generate significant revenue and contribute to the overall economy. Compared to other industries, sports betting revenue may not be as significant. For example, in 2020, the global video game industry was estimated to generate over $159 billion in revenue. Meanwhile, the global film industry was estimated to generate over $100 billion in revenue in 2020.
The popularity of select sports events cannot be overlooked, with the Super Bowl and World Cup among the largest betting events in the globe. Betting odds and lines also greatly impact the amount of revenue generated by sports betting. Other factors include technological advancements, including the live streaming of events.
The future of sports betting revenue hinges on additional markets legalizing sports betting, via mobile betting, land-based, or a combination of both. An uptick in legal U.S. markets will trigger increased revenues, while new bet trends including same game parlays and in-game wagering, unlocks more opportunities for customers.
Online sports betting has significantly impacted sports betting revenue, notably in states where it is legal and regulated. The rise of online sports betting has facilitated the customer experience, allowing people to place bets remotely or in-person from the event itself, leading to increased revenue for sportsbooks. Betting site operators can also reach a much larger audience and customer-base. Overall customer convenience plays a large part in driving up sports betting revenue.
Gross revenue represents the total amount of money a sportsbook takes in from all customer bets, and it includes the total value of all bets placed, regardless of whether the bets won or lost. In other words, gross revenue is the total amount of money a sportsbook earns from its customers. Net revenue, conversely, is the amount of money a sportsbook earns after deducting all its operating expenses. This includes things like salaries, rent, marketing expenses, and other costs associated with running the sportsbook. Net revenue is the profit a sportsbook makes from its operations.
Major sports events including the Super Bowl and World Cup have a significant impact on sports betting revenue. These events garner a lot of attention from fans, which leads to increased betting activity and higher revenue for sportsbooks. The Super Bowl alone is the largest single-day betting event on the sporting calendar, which generates millions of dollars in revenue for sportsbooks.
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