Tennessee sports betting: $3B wagered so far in fiscal year 2024

NASHVILLE, Tenn. (WKRN) – When it comes to the month of March, all eyes are on both the women’s and men’s NCAA basketball tournaments which, in turn, tends to be a very popular time for sports betting.

Online-exclusive sports betting started in Tennessee in November 2020 for those ages 21 and older. The state currently has 13 licensed online sportsbooks, 12 of which are in operation.

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The Tennessee Sports Wagering Council (SWC) said from July 1, 2023 – Feb. 29, 2024, it has collected $58.5 million in privilege tax from the online sportsbooks licensed in Tennessee. Sports bettors in Tennessee have wagered $3.18 billion during the same period.

By law, 80% of the privilege taxes generated in a fiscal year go to the Lottery for Education Account, 15% to the General Fund to be disbursed to local governments and the remaining 5% to the Tennessee Department of Mental Health and Substance Abuse Services.

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In Kentucky, as of September 2023, residents over 18 years old can place sports bets both online and in person.

For Tennessee and Kentucky, you don’t need to be a resident of the state to wager as long as you’re physically located within that state’s lines.

Legal online sportsbooks in Tennessee: 

• American Wagering, Inc. (dba Caesars Sportsbook)

• Betfair Interactive US LLC (dba FanDuel Sportsbook)

• BetMGM, LLC (dba Roar Digital)

• Crown TN Gaming LLC (dba DraftKings)

• FBG Enterprises Opco, LLC (dba Fanatics Sportsbook)

• Gamewise, LLC (dba Betly)

• KeyStar TN, LLC (dba ZenSports)

• Penn Sports Interactive, LLC (dba ESPN BET)

• Seminole Hard Rock Digital, LLC (Branded as Hard Rock Bet)

• SBOpco, LLC (dba Superbook)

• Tennessee Action 24/7, LLC

• WSI US, LLC (dba WynnBET)

Legal in-person sportsbooks in Kentucky: 

• Churchill Downs (Louisville, KY)

• Derby City Gaming (Louisville, KY)

• Ellis Park (Henderson, KY)

• The Mint Gaming Hall Cumberland (Williamsburg, KY)

• The Mint Gaming Hall Cumberland Run (Corbin, KY)

• Newport Racing & Gaming (Newport, KY)

• Oak Grove Racing, Gaming & Hotel (Oak Grove, KY)

• The Red Mile (Lexington, KY)

• Turfway Park Racing & Gaming (Florence, KY)

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Top legal online sportsbooks in Kentucky:

• Bet365

• BetMGM, LLC (dba Roar Digital)

• Caesars Sportsbook

• DraftKings

• ESPN BET

• FanDuel Sportsbook

• Under state law, up to 30 Kentucky betting apps and websites can launch

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