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Memphis News & Weather | Memphis, TN | WATN - localmemphis.com

Tennessee sports betting tops $18M in taxes in 1st 6 months

On Tuesday, Tennessee Lottery CEO Rebecca Hargrove told the state's Sports Wagering Advisory Council that the gross handle of bets placed has topped $1 billion.

NASHVILLE, Ind. — A Tennessee official said that mobile-only sports betting has brought in $18.5 million in privilege tax revenue over the first six months that wagers have been accepted. 

On Tuesday, Tennessee Lottery CEO Rebecca Hargrove told the state's Sports Wagering Advisory Council that the gross handle of bets placed has topped $1 billion.

She said that includes $2.8 million in tax revenue in April from a $172 million gross handle. 

80% of the revenue goes into an education account that mostly funds postsecondary scholarships. 

15% goes toward local government needs and 5% funds gambling problem treatment programs.