For Your Information: 10 States That Pay Out The Biggest Lottery Jackpots

- By Bossip Staff Categories: Ballers, Did You Know, For Your Information

10 States That Pay Out The Biggest Lottery Jackpots

Lotteries are big businesses in most states, and they can provide windfalls for both the winning ticket-holders and state coffers. In the case of lotteries that include multiple states like Mega Millions and Powerball, jackpots have hit records of over $300 million.

The guaranteed winners of lotteries, though, are state treasuries, which can receive several hundred million dollars a year on annual ticket sales of over $1 billion. The costs of operating a lottery are relatively low, the margins are excellent, and in this new era of government austerity, the funds they generate are even more important. Many states rely on lottery revenues to beef up education budgets: In New York, the lottery accounts for 5 percent of education spending. In others, the money goes into the general fund.

Check em out….

10. Illinois
Largest Jackpot: $363 million,(two-state lottery win shared with Michigan, 2000)
Prizes Paid: $1.23 billion
Ticket Sales: $2.1 billion
State Profit From Sales: $625 million
Government Use: K-12 Education, veterans benefits, multiple sclerosis research

9. Michigan
Largest Jackpot: $363 Million, (two-state lottery win shared with Illinois, 2000)
Prizes Paid: $1.4 billion
Ticket Sales: $2.38 billion
State Profit From Sales: $702 million
Government Use: K-12 education

8. Ohio
Largest Single Jackpot: $270 million (2006)
Prizes Paid: $1.5 billion
Ticket Sales: $2.41 billion
State Profit From Sales: $702 million
Government Use: Education

7. California
Largest Single Jackpot: $315 million (2005)
Prizes Paid: $1.6 billion
Ticket Sales: $2.97 billion
State Profit From Sales: $1.04 billion
Government Use: Education

6. Pennsylvania
Largest Single Jackpot: $213 million (2004)
Prizes Paid: $1.9 billion
Ticket Sales: $3.09 billion
State Profit From Sales: $910 million
Government Use: Services for the elderly

5. Georgia
Largest Single Jackpot: $390 million (two-state lottery win shared with New Jersey, 2007)
Prizes Paid: $2.2 billion
Ticket Sales: $3.66 billion
State Profit From Sales: $872 million
Government Use: Education

4. Texas
Largest Single Jackpot: $330 Million, (four-state shared lottery win, 2007)
Prizes Paid: $2.3 billion
Ticket Sales: $3.72 billion
State Profit From Sales: $1.04 billion
Government Use: Education, state general fund

3. Florida
Largest Single Jackpot: $189 million (2009)
Prizes Paid: $2.4 billion
Ticket Sales: $3.93 billion
State Profit From Sales: $1.28 billion
Government Use: Education trust fund

2. Massachusetts
Largest Single Jackpot: $294 million (2004)
Prizes Paid: $3.2 billion
Ticket Sales: $4.44 billion
State Profit From Sales: $859 million
Government Use: City and town funds, compulsive gambling, the arts

1. New York
Largest Single Jackpot: $336 million (two-state lottery win shared with California, 2009)
Prizes Paid: $4 billion
Ticket Sales: $7.66 billion
State Profit From Sales: $2.7 billion
Government Use: Education

Source

More On Bossip!

BFWTFs: Random Celebrity Buds You Wouldn’t Imagine Hanging Out

Watch Your Mouths! Celebrities Caught Making Stupid Racist Comments

Poor Thang! Mommy Banger BeyBey Won’t Let Lil Blue Ivy Carter Get Her Shine On, Plus Auntie Solo Strutting Around Downtown

A Bunch O’ Heathens! The 10 Least Religious States In The Country

Comments

blog comments powered by Disqus