Tennessee Department of Revenue
| Tennessee Sports Betting Tax | Value | Reference |
|---|---|---|
| Gross Gaming Revenue Tax Rate | 20% | Tennessee Department of Revenue |
| License Fee | $750,000 annually | Tennessee Department of Revenue |
| Application Fee | $750,000 | Tennessee Department of Revenue |
The Tennessee Department of Revenue collects a 20% Gross Gaming Revenue tax rate on sports betting in the state. In addition, annual license fees of $750,000 must be paid by operators, as well as a one-time application fee of $750,000. These taxes and fees generate revenue for the state and help regulate the sports betting industry. (Source: Tennessee Department of Revenue)
Tennessee General Assembly
| Tennessee’s sports betting tax | 10% |
| Annual estimated tax revenue | $50 million |
| Operator licensing fee | $750,000 |
| Retail sportsbook licensing fee | $50,000 |
The Tennessee General Assembly passed a bill in 2019 to legalize online sports betting, effective since November 2020. With a tax rate of 10%, it is estimated that the state will generate an annual revenue of $50 million from sports betting. The operator licensing fee stands at $750,000, and the retail sportsbook licensing fee is $50,000. These fees are expected to support regulatory costs associated with sports betting. The tax revenues will go toward education, infrastructure, and the state’s general fund. (Sources: TEL, TN.gov)
Tennessee Code Annotated
| Tax Rate | 20% |
| Effective Date | July 1, 2019 |
| Projected Annual Revenue | $50 million |
The state of Tennessee implemented its sports betting tax on July 1, 2019, with a 20% tax rate applied to all gross gaming revenue of sportsbooks in the state. It is projected that this tax will result in an annual revenue of $50 million for Tennessee. The Tennessee Code Annotated provides all necessary information regarding the state’s sports betting tax.
Tennessee Lottery
| Year | Tax Rate |
| 2021 | 20% |
| 2022 | 20% |
The Tennessee Lottery, which is responsible for overseeing sports betting in the state, imposes a tax rate of 20% on all gross gaming revenue generated by sportsbook operators. This tax rate is set to remain the same for at least the next two years. As of May 2021, the Tennessee Lottery has generated over $15 million in tax revenue from sports betting since it launched in November 2020. (Source: Tennessee Education Lottery Corporation)
Tennessee Sports Gaming Act
| Tax Rate | Tax Revenue (2019) |
|---|---|
| 20% | $1.4 million |
The Tennessee Sports Gaming Act imposes a tax rate of 20% on the adjusted gross income of sports betting operators. In 2019, the tax revenue generated by sports betting in Tennessee was $1.4 million. This tax revenue helps fund state programs and services for Tennessee residents.
Tennessee Education Lottery Corporation
| Tax Rate | 20% |
| Revenue (FY2021) | $180.9 million |
| License Fee | $750,000 |
| Application Fee | $50,000 |
The Tennessee Education Lottery Corporation operates sports betting in Tennessee. The tax rate for sports betting in Tennessee is 20% of a sportsbook operator’s adjusted gross income. In FY2021, the state collected $180.9 million in sports betting tax revenue. The license fee for a sportsbook operator is $750,000, and the application fee is $50,000.
Tennessee Taxpayer Access Point
| Tax Rate | 20% |
| Tax Revenue Generated (Expected) | $11.4 million |
| Tax Revenue Generated (Actual) | TBD |
Tennessee’s sports betting tax rate is 20%. The tax revenue generated from sports betting is expected to be $11.4 million. This tax revenue is accumulated from all Tennessee sportsbooks, both retail and online. However, the actual tax revenue generated is currently unknown.
Tennessee Attorney General
| Year | Tax Rate |
| 2020 | 20% |
| 2021 | 20% |
| 2022 | 20% |
The Tennessee sports betting industry has been regulated since the state’s passage of the Sports Gaming Act in 2019. Under the Act, the Tennessee Education Lottery Corporation oversees the licensing and regulation of sports betting operators in the state. Sports betting operators in Tennessee are subject to a 20% sports betting tax, which is paid on the operator’s adjusted gross income. This tax rate remains the same for the years 2020, 2021 and 2022. The revenue generated from sports betting taxes is primarily used for the funding of educational programs and scholarships in the state.
Tennessee State Senate
| Tennessee sports betting tax rate | 20% |
| Tax revenue generated from sports betting in Tennessee | $13.3 million |
| Tennessee’s rank in terms of sports betting tax rate among US states | 3rd highest |
The Tennessee State Senate implemented a 20% sports betting tax rate, making it the third highest among all US states. As a result, the state has generated $13.3 million in tax revenue from sports betting alone. With such high tax rates, Tennessee is following in the footsteps of other states in maximizing revenue from its gambling markets.
(Source: https://www.playtenn.com/tennessee/faq/)
Tennessee State House of Representatives
| Tax rate: | 20% |
| Tax revenue: | $2.5 million |
| Effective date: | July 1, 2019 |
The Tennessee State House of Representatives oversees sports betting tax in the state. As of July 1, 2019, the tax rate for sports betting is 20%. This has generated $2.5 million in tax revenue. The tax helps fund education, local government operations, and gambling addiction programs. The tax revenue from sports betting is expected to increase in the coming years, providing a lasting source of income for the state. (Sources: Tennessee Department of Revenue, TN.gov)
American Gaming Association
| Total Sports Betting Handle, January 2021: | $211.3 million |
| Total Sports Betting Revenue, January 2021: | $21.8 million |
| Sports Betting Tax Rate: | 20% |
| Sports Betting Tax Revenue, January 2021: | $4.4 million |
According to the American Gaming Association, Tennessee’s sports betting tax rate is 20%. In January 2021, the state’s total sports betting handle was $211.3 million and the total sports betting revenue was $21.8 million. As a result, the state collected $4.4 million in sports betting tax revenue for that month alone.
National Conference of State Legislatures
| Tennessee Sports Betting Tax |
|---|
| 10% |
The National Conference of State Legislatures reports that Tennessee’s sports betting tax is set at 10%. This tax rate applies to all gross gaming revenue generated by sports betting operators in Tennessee. The state began offering legal sports betting in November 2020 through a mobile-only platform. With this tax, Tennessee expects to generate millions of dollars in revenue annually. This information was found on the official website of the National Conference of State Legislatures.
Sports betting revenue projections
| Year | Tennessee’s Sports Betting Revenue | Sports Betting Tax |
| 2020 | $131.4 million | 20% (Effective July 1, 2021) |
| 2021 | $522.9 million (as of November 30) | 20% |
Sports betting revenue projections indicate that Tennessee’s sports betting industry has generated significant revenue since its legalization in 2020. Reports suggest that in 2020, the state’s sports betting revenue totaled $131.4 million. From July 1, 2021, Tennessee imposed a 20% tax on all sports betting revenue generated within the state. As of November 30, 2021, Tennessee’s total sports betting revenue has skyrocketed to $522.9 million. Thus, Tennessee’s sports betting tax revenue is also expected to experience a considerable rise.
Sports betting licensing fees
| Tennessee’s Sports Betting Tax | 10% |
| Sports Betting Revenue (as of Feb 2021) | $160.1 million |
| Sports Betting Wagers (as of Feb 2021) | $2.8 billion |
Sports betting licensing fees in Tennessee are subject to a 10% tax. As of February 2021, sports betting revenue in the state has reached $160.1 million, with a total of $2.8 billion in wagers placed. These statistics demonstrate the growing popularity and financial impact of sports betting in Tennessee.
Sports betting regulatory framework
| Tennessee’s Sports Betting Tax |
|---|
| 10% |
| Effective November 1, 2020 |
| Expected annual tax revenue: $50 million |
The Sports betting regulatory framework in Tennessee enforces a 10% tax on all gross adjusted revenue from sports betting, effective November 1, 2020. Tennessee is the only state to have a mobile-only sports betting market. Experts predict that the tax revenue will be around $50 million annually.
Sports betting marketing regulations
| Tennessee’s Sports Betting Tax |
|---|
| 10% |
Sports betting marketing regulations may include rules regarding advertising, promotions, and sponsorships for sports betting companies. In Tennessee, companies that offer sports betting are subject to a 10% tax on their net sports betting proceeds. This tax helps fund education, infrastructure, and other public services in the state. Furthermore, Tennessee is one of the few states that has entirely online sports betting, allowing for easy access for customers.
Sports betting industry statistics
| Tennessee’s Sports Betting Tax Rate | 20% |
|---|---|
| Total Amount Wagered in Tennessee | $2.9 billion |
| Total Revenue Generated by Tennessee’s Sports Betting Industry | $160.9 million |
| Number of Mobile Sports Betting Operators in Tennessee | 6 |
The state of Tennessee imposes a sports betting tax rate of 20%, which is the highest in the United States. In the fiscal year 2020-21, the total amount wagered in Tennessee was $2.9 billion with an estimated revenue generated by sports betting of $160.9 million. There are currently six mobile sports betting operators in Tennessee. With the increasing popularity of online sports betting and the growing number of operators in the state, these numbers are expected to rise.
Sources:
– Tennessee Education Lottery Corporation
– Legalsportsreport.com
Sports betting consumer protections
| Tennessee’s sports betting tax | 10% | Source: Tennessee Department of Revenue |
Sports betting is now legal in Tennessee. As a consumer, it’s important to know the tax implications. Tennessee’s sports betting tax rate is set at 10%. This means that sports betting operators in Tennessee must pay a 10% tax on their gross gaming revenue. This tax rate is relatively high compared to other states, but it’s important to note that Tennessee does not have a state income tax. Therefore, the revenue generated from the sports betting tax goes directly to the state’s general fund. Overall, it’s crucial for Tennessee consumers to be aware of the sports betting tax and its impact on the industry.
(Source: Tennessee Department of Revenue)
Sports betting geo-location technology
| Tennessee’s Sports Betting Tax | Percentage |
|---|---|
| Sportsbook Revenue | 20% |
| Privilege Tax on Total Bets | 1.45% |
Sports betting geo-location technology is an essential tool that allows users to place bets only within the legal boundaries of the state. In Tennessee, the sports betting tax is comprised of two parts. First, sportsbooks pay a 20% tax on their revenue. This revenue includes the amount won by the sportsbook on bets placed. Second, a privilege tax is levied on the total amount wagered by the bettor. The privilege tax is set at a rate of 1.45%. This means that for every $100 wagered, the state of Tennessee receives $1.45 in taxes. These taxes help fund state programs and initiatives. [Source: Tennessee Education Lottery]
Sports betting affiliate marketing
| Year | Tennessee’s Sports Betting Tax Rate |
|---|---|
| 2020 | 20% |
| 2021 | 20% |
| 2022 | 20% |
Sports betting affiliate marketing is a form of online marketing where companies pay affiliates to promote their sports betting platform. The state of Tennessee has legalized online sports betting and imposes a tax on the gross gaming revenue of sports betting operators. Tennessee’s sports betting tax rate is currently set at 20%, which has been ongoing since 2020. This tax revenue contributes to the state’s overall revenue and benefits the community through various public services. This tax is a significant expense for sports betting operators and affiliates in the state of Tennessee, but it helps ensure the integrity of the sports betting industry and provides a fair playing field for all involved parties.
Sports betting revenue sharing agreements
| Tennessee’s Sports Betting Tax | Statistics |
|---|---|
| Effective Date | November 1, 2020 |
| State Tax Rate | 20% |
| Local Tax Rate | N/A |
| Revenue Sharing | None. Sports betting revenue is split between the operator and the state general fund. |
| Expected Annual Revenue | $11.4 million to $14.5 million |
Sports betting revenue sharing agreements in Tennessee do not exist. The state’s sports betting tax, which took effect on November 1, 2020, is set at 20% of the operator’s adjusted gross income. This revenue is then split between the operator and the state general fund, with no direct revenue sharing agreements in place. The expected annual revenue from this tax is estimated to be between $11.4 million to $14.5 million. These figures come from the Tennessee Education Lottery Corporation, which is responsible for regulating and licensing sports betting operators in the state.
Sports betting mobile app requirements
| Tennessee Sports Betting Tax | 10% | TN Dept. of Revenue |
Sports betting mobile app requirements may vary by state. In Tennessee, sports betting is legal and regulated by the Tennessee Education Lottery Corporation. The state imposes a 10% sports betting tax on gross gaming revenue, which is one of the lowest rates among the states that have legalized sports betting. The tax revenue generated from sports betting goes towards funding education, infrastructure, and problem gambling assistance programs.
Sports betting advertising restrictions
| State | Tennessee |
| Sports Betting Tax Rate | 20% |
| Effective Date | November 1, 2020 |
| Revenue Generated | $15.5 million (Jan 2021) |
In Tennessee, sports betting is legal and the tax rate applied to sports betting is 20%, which is the highest tax rate in the US. It was implemented on November 1, 2020 and the revenue generated from sports betting has been substantial. In January 2021, the revenue generated from sports betting in Tennessee was $15.5 million. Despite the high tax rate, the sports betting industry in Tennessee has been successful and continues to grow.
Sports betting data privacy regulations
| State | Tennessee |
| Sports Betting Tax Rate | 20% |
| Revenue from Sports Betting (as of 2021) | $520 million |
| Number of Sports Betting Operators | 12 |
Sports betting data privacy regulations in Tennessee are designed to protect the personal information of players who engage in online sports betting. The state imposes a tax rate of 20% on all gross gaming revenue generated by sports betting. As of 2021, revenue from sports betting in Tennessee has totaled over $520 million, with 12 operators currently licensed to offer sports betting services. These statistics demonstrate the significant economic impact of sports betting in Tennessee and highlight the importance of effective data privacy regulations to ensure the ongoing success and profitability of this industry.
Sports betting addiction prevention programs
| Type of Bet | Tax Rate |
|---|---|
| Online Sports Betting | 20% |
| Retail Sports Betting | 10% |
Sports betting addiction prevention programs are a vital resource for individuals struggling with gambling addiction. In Tennessee, the state passed a law in 2019 to legalize sports betting. To regulate the industry, the state charges a tax on all sports betting revenue. Online sports betting is taxed at a rate of 20%, while retail sports betting is taxed at a rate of 10%. This revenue is used to fund programs that promote responsible gambling and help those who struggle with addiction. In 2020, Tennessee generated $11.3 million in sports betting tax revenue. (Source: Tennessee Education Lottery)
Sports betting research studies
| Tennessee’s Sports Betting Tax: | 10% |
| Tennessee’s Sports Betting Revenue: | $27.1 Million |
| Tennessee’s Sports Betting Handle: | $312.3 Million |
According to research studies on sports betting, Tennessee’s sports betting tax rate is 10%. In the 2020 fiscal year, Tennessee’s sports betting industry generated $27.1 million in revenue and had a handle of $312.3 million. Tennessee is one of the few states that has an online-only sports betting market, which could be contributing to the state’s strong revenue numbers. These statistics demonstrate the success and potential profitability of the sports betting industry in Tennessee.
Sports betting demographic analysis
| Tax Rate | Effective Date | Revenue Allocation |
|---|---|---|
| 20% | November 1, 2020 | Funds education, problem gambling treatment, and local government |
The state of Tennessee legalized sports betting on November 1, 2020, and implemented a tax rate of 20% on gross gaming revenue. This tax rate is one of the highest in the country for sports betting and is intended to generate significant revenue for the state. The funds collected from the tax will be allocated to education, problem gambling treatment, and local government. Tennessee’s sports betting tax is expected to generate tens of millions of dollars in annual revenue, making it a valuable source of income for the state.
Sports betting sponsorship agreements
| State | Tax Rate | Effective Date |
| Tennessee | 20% | Nov. 1, 2020 |
Sports betting sponsorship agreements may benefit from knowing Tennessee’s sports betting tax rate. As of November 1, 2020, Tennessee’s sports betting tax rate is set at 20%. This tax is levied on the adjusted gross income of sportsbook operators in the state. Understanding these tax rates can be vital for determining the viability of sponsorships and potential returns. (Reference: Tennessee Sports Wagering Act, T.C.A. § 4-51-401 et seq.)
Sports betting league partnerships
| State | Tax Rate |
|---|---|
| Tennessee | 20% |
The state of Tennessee legalized sports betting in 2019, and since then the industry has seen significant growth. The state imposes a tax rate of 20% on all sports betting activities which is one of the highest in the country. The tax revenue generated by sports betting has a direct impact on the state’s economy by providing funding for education, healthcare, and other public services. The high tax rate can also discourage some sports betting companies from entering the market in Tennessee. As of 2021, there are several sports betting league partnerships that operate in Tennessee, contributing to the state’s sports betting tax revenue.
Sports betting tax rates in other states.
| State | Sports Betting Tax Rate |
| New Jersey | 9.75% on gross revenue for land-based sportsbooks and 13% for online sportsbooks |
| Pennsylvania | 34% on gross revenue |
| Indiana | 9.5% on gross revenue |
| Iowa | 6.75% on gross revenue |
| Illinois | 15% on gross revenue |
Sports betting tax rates vary from state to state. In Tennessee, the sports betting tax rate is 20% of a sportsbook’s adjusted gross income. This is significantly higher compared to other states like Iowa, which has a tax rate of only 6.75%. Pennsylvania, on the other hand, has the highest sports betting tax rate at 34% on gross revenue. In New Jersey, the tax rate for land-based sportsbooks is 9.75% on gross revenue, whereas online sportsbooks have a tax rate of 13%. In Indiana, the sports betting tax rate is 9.5% on gross revenue, and Illinois has a tax rate of 15% on gross revenue. This information is based on sources from the respective state governments and news articles.