After a year of high inflation, many Americans dream about winning the lottery. With record-high jackpots in 2022, a new study found that residents in New York spend the 2nd-most on lottery tickets nationwide.
The team at LendingTree analyzed data from the U.S. Census Bureau Annual Survey of State Government Finance and the U.S. Bureau of Economic Analysis to find the states where Americans spend the most on lottery tickets and whether they can afford it.
They also surveyed over 2,000 Americans to better understand their attitudes and habits when it comes to the lottery. A quick look at what the new study found:
- Residents in New York spend $455.93 on lottery tickets and scratch-offs - the 2nd-most per capita, nationwide.
- Residents in New York won $239.11 per capita from lottery games, meaning they got back 52 cents in lottery prize money for every dollar they spent.
- New York ranks 4th among states where residents lose the most cash on lotteries. Residents had a deficit — the amount spent per capita minus prize payouts per capita — of $216.82.
You can view the full study here: LendingTree’s Lottery Study.