MA Lottery Rakes In All-Time High $1.176 Billion In Profits

MASSACHUSETTS — The Massachusetts State Lottery generated $1.176 billion in net profits in fiscal year 2023, the highest in the lottery's 51-year history, according to a statement from State Treasurer Deborah Goldberg. This passes the previous record set in fiscal year 2021 of $1.112 billion.

The 2023 fiscal year started July 1, 2022 and ended June 30. Mass Lottery revenues topped the $6 billion mark for the first time ever, ringing in at an estimated $6.131 billion. This bested the previous record of $5.863 billion set in the last fiscal year, when net profit totaled $1.105 billion.

“I am proud of the performance of our team and want to thank our retail partners and our customers as we face mounting challenges in the marketplace,” Goldberg said in a statement. “Because of everyone’s efforts, we are able to meet our mission of providing critical local aid to all 351 communities in the state.”

The record profits will be distributed as local aid. Lottery funds are not earmarked for any specific programs. Municipalities choose how they would like to allocate their funds. Funds are often used for public safety staffing and equipment, snow removal, local road improvements, school services, programs for seniors, and parks and recreation projects, according to Mass Lottery.

Out of each $1 spent on the lottery, 73 cents is distributed as prizes to players, 19 cents is marked as local aid, 6 cents goes to commissions and bonuses to lottery retailers, and 2 cents is for administrative expenses.

Mass Lottery paid out an estimated $4.483 billion in prizes in fiscal year 2023, surpassing the previous high of $4.309 billion paid out last year. Lottery players won 145 prizes valued at $1 million or more in fiscal year 2023, including Mega Millions jackpots of $33 million and $31 million.

Mega Millions sales were 116 percent over last year as two jackpots surpassed $1 billion. Powerball sales, boosted by the run-up to the first-ever $2 billion jackpot in November, were up 31 percent over last fiscal year.

It looks like it should be another good year for the lottery: This month, the Powerball jackpot exceeded $1 billion. Three tickets worth $1 million were sold in Massachusetts last week.

See related: $1 Million MA Powerball Winners Claim Prizes, 1 Ticket Unclaimed