(New York Lottery)

New York Lotteries Emerge as Most Profitable in the US

The New York Gaming Commission has reported that the state's three most popular lotteries collectively generated over $63.9 million in profits, marking them as the most profitable lotteries in the United States. For the fiscal year 2022-2023, these lotteries contributed a total of $3.7 billion in revenue.

A significant portion of the proceeds was allocated to the state's public school budget. The Mega Millions, Powerball, and NY Lotto lotteries experienced a surge in popularity, contributing a total of $55 million for educational purposes. Additionally, $8.9 million was earmarked to support commissions for lottery retailers, many of which are small businesses.

Brian O'Dwyer, the chairman of the gambling regulator, highlighted that the lotteries' substantial jackpots translate to more opportunities for state schools, emphasizing that every ticket purchased benefits New York State taxpayers and businesses.

5 March 2024, 15:10

Finance USA Lotteries

Finance

Flutter Enters Top 3 Largest Bookmakers in Brazil

28 September 2024, 10:08

DraftKings to Pay $200,000 Fine Over Social Media Post

27 September 2024, 15:41

Star Entertainment Group Reports Financial Downturn

27 September 2024, 10:54

Flutter Entertainment aims to triple profits

26 September 2024, 09:19

US reports growing gambling industry revenues for the month