Sports wagering generates $364,000 per day in revenue

(The Center Square) – Two years of legal sports wagering are in the books for North Carolina, and state coffers are averaging gains of better than $364,000 per day. February’s take was the lowest ($10.4 million) since last summer, yet still at a robust $373,232 per day. Eight months into the fiscal year, the $96,218,530 has been added in estimated tax proceeds. The state Office of Budget and Management forecast the state to benefit by $74.9 million in fiscal year 2025 and $142 million in fiscal year 2026. The first full year was 55.7% higher. For perspective on state revenue, the individual income tax is the state’s largest revenue source and its increase in fiscal year 2025 was more than $637 million. Sales and use tax generate an estimated $5 billion annually. The corporate income tax and franchise tax are other streams topping the sports wagering windfall. The calculation for state coffers is 18% of the gross wagering r