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In fiscal year 2022, the Massachusetts State Lottery garnered an approximate net profit of $1.10 billion. Remarkably, this marked the first instance where the lottery achieved profits exceeding $1 billion in consecutive years.
The profit earned is quite astonishing, especially when considering that Massachusetts lottery tickets cannot be sold online. However, there is a program available for season tickets, allowing players to buy tickets for multiple drawings in advance at a reduced price.
In September, the lottery will unveil the official numbers for fiscal year 2022 (July 2021 – June 2022), with no significant alterations anticipated. In a news release, Deborah Goldberg, the State Treasurer and Chair of the Lottery Commission, acknowledged Massachusetts’ rich five-decade history with the lottery.
Goldberg expressed gratitude to our loyal customers, retail partners, and dedicated lottery team members for their indispensable contribution to our lottery’s success, as we commemorate the 50th anniversary of the Lottery. We take pride in continually surpassing records and generating valuable resources for every community in the state.
Records abound for games and retailers
Last fiscal year witnessed not only a historic achievement for the lottery with two consecutive $1 billion revenue years, but also several other remarkable records.
- Prize winnings exceeded $4.3 billion for players.
- Commissions earned by retailers amounted to approximately $335 million.
- Keno sales reached a historic milestone, exceeding $1.2 billion and marking a 15% increase compared to the previous year of 2021.
- In a remarkable achievement, the revenue has soared to an unprecedented $5.86 billion, surpassing the previous fiscal year’s record of $5.83 billion.
According to interim Lottery Executive Director Mark William Bracken, players managed to secure close to 200 prizes worth $1 million or higher, along with 20 prizes exceeding $2 million. Although draw game and instant ticket sales came close to breaking previous records, they fell short. Bracken further expressed astonishment at the fact that these exceptional sales were achieved despite the ongoing global pandemic.
Bracken expressed gratitude for the collaborative efforts of our retail partners, team members, Treasurer Goldberg, and our commissioners, which resulted in yet another successful year despite the ongoing challenges posed by the pandemic. He emphasized the importance of our customers, who were generously rewarded with an unprecedented amount of prize winnings.
Lottery generates over $143B in 50 years
In the span of 50 years, the Massachusetts State Lottery has generated over $143 billion in revenue and distributed prizes totaling more than $100 billion.
The commonwealth benefits greatly from these figures, as they generate a net profit of over $31 billion. This profit is then distributed among the state’s 351 cities and towns. In the case of Boston, they received a substantial net profit of over $200 million in 2021. Interestingly, the state does not impose any obligations on municipalities regarding the allocation of this money. Consequently, cities and towns utilize lottery funds for a wide range of projects and initiatives.
- Staffing police and fire departments;
- Snow removal;
- Improving local infrastructure;
- School services;
- Programs for the elderly;
- Parks and recreation projects.
Over the last ten years, the lottery has achieved a net profit of almost $1 billion on multiple occasions. In 2017, it exceeded this milestone for the very first time in its existence. However, in 2018, it fell just short at $997 million. The net profit surged beyond $1 billion again in 2019 but experienced a slight decline to $987 million in 2020. Fortunately, in 2021, it rebounded impressively, reaching $1.11 billion.
The current trends suggest that revenue in FY 2025 will most likely exceed $1 billion, marking the third consecutive year. If it weren’t for the impact of the pandemic in FY 2020, the Lottery would probably have already achieved three consecutive years of net profit surpassing $1 billion.
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