NASHVILLE – The Tennessee Education Lottery (TEL), which oversees the licensing and regulation of online sports wagering in Tennessee, today reported the November totals for sports betting taxes and wagering, the first month of interactive sports wagering in state history.
“Our first month of sports wagering in Tennessee comes at a unique time in the world, let alone the sports world,” TEL President and CEO Rebecca Paul Hargrove said. “November’s figures include adjustments and indicate potential. It is only one month in an unpredictable and extraordinary year, making it difficult to begin extrapolating out from this single month. As this new industry in Tennessee evolves, we will continue to work with licensees and registrants in support of a responsible and competitive sports wagering program.”
November 1 – November 30
- Gross Wagers: $131,444,523
- Gross Payouts: $118,219,615
- Privilege Tax: $ 2,363,918
By statute, on a quarterly basis:
- 80 percent of the tax collected will be transferred to the state treasurer for deposit into the Lottery for Education Account;
- 15 percent will go to the state treasurer for deposit into the General Fund to be remitted quarterly to local governments on a per capita basis; and
- 5 percent will go to the state treasurer to be allocated to the Department of Mental Health and Substance Abuse Services to oversee grant programs for problem gambling treatment services.
Tennessee state law permits wagering on sporting events via the internet, mobile device or other telecommunications platforms. Customers must be at least 21 years old to play and physically located in Tennessee at the time a wager is placed.
The TEL serves as the regulator of sports wagering in Tennessee and does not serve as an operator. There are no restrictions on the number of licenses that may be issued for interactive sports gaming operations, but licensees and suppliers must meet suitability requirements.
About the Tennessee Education Lottery Corporation
The Tennessee Education Lottery Corporation operates entirely from the revenue it generates through the sale of its products. Since January 20, 2004, the Lottery has raised more than $5.6 billion to fund designated education programs, including college grants, scholarships, Drive to 55 initiatives and after-school programs. In addition to the educational beneficiaries, players have won more than $15.5 billion in prizes and Lottery retailers have earned more than $1.4 billion in commissions. For additional information, visit tnlottery.com and follow the TEL on Facebook, Twitter and Instagram.