(The Center Square) – Only twice before has the state’s take been lower for a calendar month, yet sports wagering in North Carolina arguably continues to be a revenue win.

Estimated tax proceeds for March were $6,865,265, the State Lottery Commission said Monday in a report. Only August ($6 million) and December ($6.4 million) have been lower since bettors could begin legally playing on March 11, 2024.

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However, far be it from trading March Madness for March Sadness in assessment.

Consider for this fiscal year the state has already gained $85.8 million in nine full months. That’s a pace to end June 30 with more than $114.4 million.

Or, consider the pace per day since enactment – $350,662. Most quarter-million dollar a day businesses are generally considered good.

Prior to implementation, a legislative fiscal analysis estimated the state’s 18% betting tax would generate $64.4 million. The top end of trade industry estimates was $126 million in year one.

The gross wagering revenue – amounts received by interactive sports wagering operators from sports wagers as authorized under state law, less the amounts paid as winnings before any deductions for expenses, fees or taxes – is multiplied by 18% to give the state its take.

Total gambled exceeded $685 million in March and total won by bettors topped $643 million. The gross wagering revenue was $38,140,361. Promotional wagering revenue was $17.9 million.

The monthly takes since beginning last year have been $11,969,318 in 21 days of March; $18,945,301 in April; $11,354,462 in May; $7,254,407 in June; $7,600,687 in July; $6,075,183 in August; $12,611,330 in September; $8,758,757 in October; $14,057,587 in November; $6,429,218 in December; $13,415,424 in January; and $10,018,604 in February.

The new fiscal year began July 1.

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Five things, per Session Law 2023-42, can happen with the proceeds. There’s $2 million annually to the Department of Health and Human Services for gambling addiction education and treatment programs; and there’s $1 million annually to the North Carolina Amateur Sports to expand youth sports opportunities.

Also annually, a third element is $300,000 to each of 13 state public school collegiate athletic departments. Fourth is $1 million annually to the N.C. Youth Outdoor Engagement Commission, which awards grants.