Record Year Brings Over $1.1 Billion In Profit For MA Lottery
Massachusetts Lottery broke through the glass ceiling, busting previous profit and revenue records over the past fiscal year.
As a result, estimates put the MA Lottery profit at more than $1.1 billion. Retailers, scratch tickets, and Keno helped the state rack up $5.827 billion in revenue. This is the seventh consecutive year the lottery generated over $5 billion in revenue.
This narrowly tops the previous state record for revenue in profits from the 2019 fiscal year, when Massachusetts profited $1.104 billion from $5.509 billion in revenue.
Scratch-offs lead the way and Keno returns from the ashes
Lottery customers tested their luck with scratch-off tickets more than even in fiscal 2021, buying over $4 billion worth of tickets. This total is $60 million higher than fiscal 2020.
Revenue from Keno took a steep decline in fiscal 2020 since it’s mainly played in restaurants and bars. However, with COVID restrictions being lifted and businesses reopening their doors to full capacity in late May, Keno totaled $1.057 billion in sales, another state record.
The Lucky For Life drawing is bound to be a cash cow for the Lottery moving forward. Drawings have increased from twice to seven days a week as of mid-July. Winners receive $1,000 each day for the rest of their lives.
“Despite the pandemic, this year the lottery experienced record-setting sales,” Lottery Treasurer Deborah Goldberg said. “Thanks to our lottery team, retail partners, and particularly our customers, we will again be able to deliver critical resources to every community in the state.”
Where do Lottery profits go?
The 351 cities and towns in the Bay State are the beneficiaries of these record-breaking profit numbers. Funds are dispersed to each community, allowing local governments to decide where their portion will go to improve the area. Some normal expenditures include staffing for public safety, repairing roadways, snow removal, and school services among other things.
Lottery continues fighting for online presence
Goldberg and the Massachusetts Lottery have been pleading with legislators to allow a Massachusetts online lottery. They believe even higher revenue and profits numbers are realistic if they can reach a younger audience that is looking to play Lottery games on their smartphones and laptops.