States that have had lottery sales decline for decades are California, Texas, Massachusetts, and New York. Despite these statistics, New York still has the highest cumulative sales of any lottery in the United States. Other states, like Indiana, Kansas, Missouri, and Oregon, have been experiencing declines in lottery sales. If you’d like to know more about lottery sales in your state, read on. Here’s a quick summary of the statistics on lottery sales in different States.
New York had the largest cumulative sales of any lottery
During fiscal year 2003, the New York lottery generated the most revenues. More than $5 billion was collected from the lottery. This figure is followed by Texas and Massachusetts. Together, these three states accounted for 28% of the total lottery sales. Of course, many other states had their share of the profits, too. In fact, fifteen of the U.S. states made more than a billion dollars from lottery sales, including New Jersey and Massachusetts.
The state-run lottery has become a popular source of revenue for many state governments. In 2017, the average prize payout for New York was 53 percent of the total number of tickets sold. The state made a profit of 34 percent. Administrative costs and retailer payments make up the remaining 13%. Despite these costs, the lottery remains popular, with 60 percent of Americans reporting playing the lottery at least once a year.
Massachusetts has the highest percentage return to any state government from a lottery
Since the launch of the lottery in 2013, the state has seen an increase in its return on investment. As of June 2016, the lottery generated more than $1 billion in total revenue for the state’s municipalities, and residents in Weston, Massachusetts, received an average of $140 in lottery prize money each year. Residents of Weston received almost four times the amount of lottery prize money as those in the island town of Nantucket.
Opponents of the lottery question whether the money is being distributed to the communities that need it most. Many believe that it encourages addiction because lottery tickets are available in retail stores. And they say there are equity issues because lower income households spend more money on tickets than those in higher income brackets. Regardless of the underlying cause, lottery players in Massachusetts enjoy the highest return on investment of any state.
States with declining lottery sales
Lottery sales are down across the nation. Even though most states have fewer residents playing the lottery than the previous year, the game is still one of the most popular forms of gambling. Last year, lottery sales exceeded $91 billion, accounting for almost one percent of total state revenue. While lottery sales are not the sole source of state revenue, they help fund a variety of government programs and education. Unfortunately, dwindling lottery sales have a dramatic impact on state governments.
According to the latest numbers, Michigan’s lottery sales were down by five percent during the first week after social distancing orders were imposed. By the second week, sales had dropped 35 percent, despite a spike in online sales and a 123% jump in first-time players. In New Hampshire, lottery sales are forecast to generate a hundred million dollars this fiscal year. While it exceeded its forecast by $3 million in February, officials predict a $1 million decrease by year’s end.