Lottery jackpots reached new heights in 2023. Jackpots crossed the billion-dollar mark four times to date, enticing Americans to spend more on lottery tickets. We found that New York ranks 9th among states where Americans spend the most on lottery tickets.
The team at LendingTree analyzed lottery funds data from the U.S. Census Bureau Annual Survey of State Government Finances and the U.S. Bureau of Economic Analysis to find the places where Americans spend the most on lottery tickets and how spending has changed since last year. Here’s a look at what we found:
- New York residents spend the 9th-most on lottery tickets. New Yorkers spend $404.63 on lottery tickets.
- Lottery spending increased in all states with one notable exception — New York. The Empire State saw an 11.3% decrease in lottery sales per capita, from $455.93 in 2020 to $404.63.
- Massachusetts residents spend $1,024.91 on lottery, the most nationwide and a 27.3% jump since last year.
- Ohio residents are most likely to make their money back. Ohio pays out 72 cents for each dollar spent on the lottery, the most out of any state that has a lottery.
You can view the full study here: https://www.lendingtree.com/debt-consolidation/lottery-study/
The record setting jackpots are persuading Americans to spend more on the lottery tickets and our study highlights just how much lottery spending has increased.