Lotteries can offer a lot for the residents in the states that they are played. They can offer a chance to hope and dream or a chance to win some extra money in the long run. They offer a way to spend your money every day on something that might not pay well, but you keep going just to win that big amount. Some states have even had their jackpots go up into the $400 million range or more. This is a lot of money if you think about it and you want a chunk of it if you can possibly win it.
State Treasuries are the real winners of the lottery however, since they are able to collect on them each and every time without having to actually pay in or play the games to win. They get a portion of the tickets sold each year and they even bring in the taxes that are put on the amounts that are won. However, the money that they receive is needed for the state that they are working in. This is because a lot of education systems and other projects throughout the state need this money to continue doing what they are doing or to fix certain problems that they are experiencing, so you see, when you buy those lottery tickets, you're also helping your state out in a way. So here are a list of some of the states that have paid out the most, but also some information on how much they made in sales overall to give you a better idea of what is going on within the lottery ticket industry.
• Illinois – $625 million for the state from players, $1.23 billion paid out to players.
• Michigan – $702 million for the state from the players, $1.4 billion paid out to the players.
• Ohio – $702 million for the state from the players, $1.5 billion paid out to the players.
• Pennsylvania – $910 million for the state from the players, $1.9 billion paid out to the players.
• Massachusetts – $859 million for the state from the players, $3.2 billion paid out to the players.
• New York – $2.7 billion for the state from the sales, $4 billion paid out to the players of the state.
This should put some of the numbers of the lottery into perspective so you can get an idea of how they run and what they are able to do when it comes to getting the money for the state and then using it on the things that the state needs. This is a big thing for lottery winners to keep in mind – you want to help out your state – just play the lottery, you have a small chance of winning but they can use the funds for something around the state that needs to be fixed up or added too and they cannot do it without the appropriate funding.
You must be logged in to respond
Do you think lottery tickets should be tax deductable?