SCHENECTADY, N.Y. – The New York Lottery is doing more than okay. For the 2018-19 fiscal year, the state’s traditional and video lottery gaming operations topped the $10 billion mark in combined sales and “net win” (the earnings after winners receive their share), the Lottery Post reports. Those numbers earned the New York Lottery the label as “largest and most profitable” in the United States.
For the fiscal year ending March 31, the lottery garnered $8.2 billion in sales, including tickets for Powerball, Jackpot, Scratch Off, Quick Draw and Mega Millions, according to the New York Gaming Commission. Also included were monies brought in by the licensed video lottery locations. The sales catapulted New York into the seventh most profitable lottery in the world, surpassed only by the two National Lotteries of China, and those of Italy, France, Spain and the United Kingdom.
Licensed lottery retailers earned $492 million in commissions, while video lottery gaming operators netted $964 million during the same 12-month period.
Combined, the record-breaking earnings generated $3.47 billion in lottery aid to education, which accounts for 13% of all New York state school aid disbursed in fiscal year 2018-19.
“New York’s long history of increasing earnings for New York’s public K-12 schools is a direct result of sound business planning, mature and responsible stewardship of our lottery and video lottery products, and a fundamental continuous improvement effort,” said Commission Acting Executive Director Robert Williams, in a press release.
Meanwhile, Florida is considering adding warning labels to its lottery tickets to help bring more awareness about gambling addiction.