According to state lottery officials, over $25 million was wagered on Tennessee sports bets in just the first week of operation. The first day of legalized betting produced $5.1 million in wages with $160,000 in taxes collected and $800,000 in adjusted gross income for sportsbooks. BetMGM, DraftKings, FanDuel and Tennessee Action 24/7 generated a gross income of over $2.5 million while the state made over $500,000 in tax revenue. According to the Lottery, 80 percent of the tax collected will go to the Lottery for Education account. There are currently three additional sportsbooks waiting for license approval in Tennessee: BetAmerica,…