US Government Lotteries Draw $113 Billion in FY24 as Critics Call Them Regressive
Updated
Updated · Fox News · Sep 25
US Government Lotteries Draw $113 Billion in FY24 as Critics Call Them Regressive
1 articles · Updated · Fox News · Sep 25
Summary
$113 billion went to U.S. lottery products in fiscal 2024—more than $300 million a day—highlighting how large state-run gambling has become.
Census data show lottery ticket sales nearly doubled to $104.7 billion in 2024 from $52.8 billion in 2008, while games have grown pricier with $5 Mega Millions tickets and new NFL-themed Powerball offerings.
1-in-292.2 million Powerball odds and 1-in-290.5 million Mega Millions odds underpin the criticism that lotteries sell expensive long shots rather than realistic wealth-building.
$20 a week on tickets can top $1,000 a year, making the burden heavier for lower-income households and reinforcing economists' long-running view that lotteries function as a regressive revenue source.
$30.6 billion was transferred to government beneficiaries in FY24 for education, veterans and senior programs, but critics argue that public benefits do not change the basic model: states raise money by selling citizens tiny chances of getting rich.