Tennessee sports betting handle was at $350.9 million in June, which was a significant decrease from $437.5 million in May. This slow period is likely to continue throughout the summer, since July and August are some of the least active months for sports betting for the year.
Taking a look at the Tennessee sports betting handle since June 2024 sheds more insight on the market trends. After a year-over-year increase in May 2025, there was a more modest gain in June 2025 compared to 2024.
Despite June being the lowest sports betting handle for Tennessee since August 2024, there was still a year-over-year increase from $342.2 million to $350.9 million. With that said, looking at July 2024 ($271.5 million) can help project July 2025 results, which are likely to be even lower than June, given what was reported last year.
| Month | Sports Betting Handle | Privilege Tax Assessed |
|---|---|---|
| June 2025 | $350.9 million | $6.5 million |
| May 2025 | $437.5 million | $8.1 million |
| April 2025 | $463.6 million | $8.6 million |
| March 2025 | $548.6 million | $10.1 million |
| February 2025 | $413.5 million | $7.6 million |
| January 2025 | $543.6 million | $10.0 million |
| December 2024 | $569.8 million | $10.5 million |
| November 2024 | $594.4 million | $11.0 million |
| October 2024 | $547.8 million | $10.1 million |
| September 2024 | $520.8 million | $9.6 million |
| August 2024 | $342.0 million | $6.3 million |
| July 2024 | $271.5 million | $5.0 million |
| June 2024 | $342.2 million | $6.3 million |
Tennessee is a unique market for sports betting because it’s the only state that taxes handle rather than revenue, known as a privilege tax. The tax rate on handle is at 1.85% to generate a more stable tax stream and minimize volatility over each month.
Some Tennessee users are still playing at offshore betting sites, which is affecting the overall handle and revenue.
That’s why the Tennessee Sports Wagering Council has continued to ramp up efforts to shut down offshore sportsbooks, issuing a total of $250,000 in fines ($50,000 each) to BetAnySports, Bookmaker, JazzSports, BetOnline, and Curaçao. This is due to a violation of the Tennessee Sports Gaming Act, which prohibits unlicensed operators from taking wagers.
It stands to reason that if more offshore sites like Bovada (left Tennessee in 2024) leave the state, the overall market should improve.
