Tax rate on sports betting winnings

Tax rate on sports betting winnings

As a result, only online sports betting is legal within the state.

Many big sportsbook operators have jumped at the opportunity to provide sports betting for enthusiasts in this new market.

Throughout the last year, operators have been applying for sports betting licenses issued by the Tennessee Lottery.

At the time of writing, seven have been approved, though only four are known: DraftKings, FanDuel, BetMGM, and Tennessee Action 24/7.

The first three launched November 1, 2020, while the last may launch sometime in 2021 depending on their insurance situation.

Regardless, this page will break down everything you need to know about sports betting in Tennessee.

Tennessee Sports Betting Apps, as of November 1, 2020, three sportsbooks have launched in Tennessee.

All three well-known in the industry and offer excellent apps.

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