Lotteries bring in a lot of money and pay out a relatively small amount. This is essential for their continuation. Sometimes, however, lottos give out giant jackpots, sometimes worth over $300 million. The guaranteed winners of lotteries, though, are state treasuries, which make over $1 billion each year on ticket sales. This revenue is often essential to state functions. In New York, for example, the lottery accounts for 5% of education spending.
This article looks at the states which pay lotto players the most, how much they pay, and how much they make.
10. Illinois - The Illinois Lottery has been in operation since 1972, but for the first 13 years, its profits went directly into state's general budget. Since 1985 it has paid out $1.23 billion.
9. Michigan - Operating since 1972, the Michigan lottery has generated more than $16 billion in revenue for the state's education fund. It has also paid residents $1.4 billion. Read the full article.