Sales of Lottery Tickets Nearly Doubled and Prizes More Than Doubled From 2008 to 2024
State lottery ticket sales nearly doubled nationally from $52.8 billion to $104.7 billion between fiscal years (FY) 2008 and 2024, according to the U.S. Census Bureau’s recently released Annual Survey of State Government Finances (ASFIN).
Virginia paid out 80% of its lottery ticket sales in prizes in FY 2024, the biggest share of any state.
During the same period, state lottery prizes jumped 118%, from $32.2 billion to $70.2 billion, and net lottery revenue increased 68%, from $20.6 billion to $34.5 billion (Figure 1). The amounts were not adjusted for inflation.
Prize Money
States gradually paid out larger prizes and kept a smaller portion of revenues for themselves between fiscal years 2008 and 2024.
As ticket sales increased, so did the share of prize money. Correspondingly, the states’ share of net lottery revenue decreased (Table 1).
Virginia paid out 80% of its lottery ticket sales in prizes in FY 2024, the biggest share of any state (Table 2). It was followed by Kentucky at 75%, and Missouri, Massachusetts and Idaho tied at 74%.
Lottery States
California, New York, Florida and Texas had the most lottery ticket sales revenue of the 45 states that operate a lottery (Table 3). Each sold over $8 billion in tickets in fiscal year 2024.
Arkansas, Wyoming and Mississippi — the most recent states to create lotteries (in fiscal years 2010, 2015 and 2020, respectively) — collected a total of $1.1 billion in ticket sales in FY 2024.
The five states without a lottery? Alabama, Alaska, Hawaii, Nevada, and Utah.
Annual Survey of State Government Finances
The ASFIN is the primary source of nationwide, comprehensive data on the revenues, expenditures, debt, and assets of all 50 state governments. Released yearly in quarter one, data includes revenue by type, expenditure by object and function, indebtedness by term at end of fiscal year, and cash and security holdings. The newest available data are for fiscal year 2024.
More detail on the methodology of ASFIN can be found here.
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