Tennessee’s gross sports betting handle totaled $437.5 million in May, marking a year-over-year increase but showing a decline compared to April 2025.
Tennessee Sports Betting Handle Hits $437.5M in May
The May total of $437.5 million represented a 15.4% increase over the $379.2 million recorded in the same month last year. However, it was 5.6% lower than the $463.6 million reported in April by the Tennessee Sports Wagering Council.
Operators in Tennessee also reported $3.2 million in undisclosed adjustments for May. Without these, the gross betting handle would have reached $440.6 million. Based on this adjusted figure, gross wagers were up 16.2% year-over-year but still 5.6% below April’s total.
The Tennessee Sports Wagering Council has not released monthly revenue figures since July 2023, making it impossible to determine the state’s hold for May. However, the council did report that privilege tax revenue from sports betting exceeded $8.1 million for the month. Tennessee remains the only US state that taxes sports betting based on handle, with licensed operators paying a 1.85% tax on their total betting handle.
What’s the State of Sports Betting in Tennessee?
Tennessee lawmakers approved sports betting legislation in April 2019, with the law taking effect on July 1 of that year. The first sportsbooks launched in November 2020. Notably, Tennessee became the first US state to legalize online-only sports betting, with no allowance for physical sportsbook locations. Tennessee continues to be the only US state with a fully online sports betting market, excluding retail sportsbooks and casinos.
Currently, there are 13 licensed operators authorized to accept wagers in the state, some offering sportsbook promotions to Tennessee bettors. One of the most recent and major launches in the state was Bet365. The operator recently launched in Tennessee and Illinois, and it is also planning a foray into Missouri later in 2025.
According to experts, Tennessee’s sports betting market is poised for continued growth, driven by its innovative tax structure, expanding operator base, and sustained consumer interest. The state’s fully digital model and robust regulatory environment position it as a leader in the evolving US sports betting landscape.