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New York Lottery first in U.S. to crack the $10 billion mark in sales

May 15, 2019, 7:54 am

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New York LotteryNew York Lottery: New York Lottery first in U.S. to crack the $10 billion mark in salesRating:

The New York Lottery had a pretty good year.

The state's traditional lottery and video lottery gaming operations became the first in the nation to top the $10 billion mark in combined sales and "net win," which is the earnings after winners are paid.

The New York Lottery, the "largest and most profitable" in the country, recorded $8.2 billion in sales for the state fiscal year that ended March 31, 2019, the New York Gaming Commission announced in a news release this week. That includes sales from Powerball, Jackpot, Mega Millions, Scratch Off, Quick Draw and other games, plus revenues generated by the state's licensed video lottery locations. That made the New York Lottery the 7th most profitable in the world, the release said.

The video lottery net win for the 2018-2019 fiscal year was $2.08 billion, third largest in the world behind two Italian lottery operators.

The combined sales and net win earnings for the last fiscal year are a new record for the New York Lottery.

The New York Lottery generated $3.47 billion in aid designated to support the state's schools. That's $102 million more than in 2017-2018 and is also a new record.

The lottery revenues are distributed to school districts according to the same formula used for state aid: It takes into account a combination of each district's size and income levels: A larger, poorer district will receive a higher percentage than a smaller, more affluent one. Lottery contributions account for 13 percent of all state aid to education for 2018-2019.

The lottery's allocation of money to the state's education system for the most recent year (and past years dating to 1977) is broken down in this report.

In addition, according to the release, the state's licensed lottery retailers earned $492 million in commissions and video lottery gaming operators made $964 million during the 2018-2019 fiscal year.

Syracuse

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6 comments. Last comment 3 years ago by dannyct.
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TheMeatman2005's avatar - lightening
Brooklyn, NY
United States
Member #169716
October 29, 2015
1558 Posts
Offline

Congrats NYS Lottery

The Meatman 🥩🍗🍔🍖🍤🌭

“The quickest way to double your money is to fold it in half and put it in your back pocket.” Will Rogers

Winning happens in a flash, Like A Bolt Of Lightning!  Patriot

    music*'s avatar - DiscoBallGlowing
    Fresno, California
    United States
    Member #157849
    August 2, 2014
    3959 Posts
    Offline

    It is ironic that a very large win may push a school district into having their State aid reduced. Income and the district's size are taken into account.

    Hiding Behind Computer

     "We are all in this together!" 

      Avatar
      Simpsonville
      United States
      Member #163182
      January 22, 2015
      2886 Posts
      Offline

      Come on Yolanda Vega, spread the cheer.

        Avatar
        100
        New York, NY
        United States
        Member #140628
        March 23, 2013
        11577 Posts
        Offline

        People in New York play 24/7.

        Sometimes you do the right thing just because it’s right.

        Life's a game of mathematics, if you can't figure that out I don't know what to tell you.

        You can't do better than your best. By definition.

          Avatar
          100
          New York, NY
          United States
          Member #140628
          March 23, 2013
          11577 Posts
          Offline

          It is ironic that a very large win may push a school district into having their State aid reduced. Income and the district's size are taken into account.

          Hiding Behind Computer

          That education bit was the only way they could justify the game tbh. Give back.

          Sometimes you do the right thing just because it’s right.

          Life's a game of mathematics, if you can't figure that out I don't know what to tell you.

          You can't do better than your best. By definition.

            Avatar
            Northern Beaches
            Australia
            Member #187034
            January 9, 2018
            178 Posts
            Offline

            The New York Lottery has an online subscription set, I'm sure that raises additional revenue. I don't know what percentage of sales are by subscription, it would be interesting to know. Other states should follow New York Lottery's example.