US lottery spending hits record $113 billion, jackpot frenzy soars by 25% over 5-year
With jackpots reaching over $1 billion, Americans are pouring more money into lottery games, with spending surging by 25% in the last five years
Americans' expenditure on lottery games in the United States surged to $113.3 billion in 2023, marking a 5% annual increase.
The excitement over lottery winnings has been reignited after the Powerball jackpot hit $1.3 billion last weekend, becoming the fourth-largest jackpot in the country's history.
Despite the odds of 1 in 292.2 million, Americans are trying their luck, hoping to change their lives with just $2.
In a country where income inequality is rising, the interest in lottery games has also been growing in recent years.
According to information obtained from the North American Association of State and Provincial Lotteries (NASPL), spending on lottery games in the U.S. reached $113.3 billion last year.
Florida led the states with the highest lottery sales at $9.8 billion, followed by California with $9.2 billion in sales.
The NASPL noted an increase in lottery sales in many regions during the COVID-19 pandemic.
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The closure of cinemas and concert halls, cancellations of sporting events, dining restrictions and reduced travel led to a surge in lottery sales as people sought alternative entertainment.
It's difficult to measure the growth in lottery sales without considering the increase in major jackpots, indicating that sales tend to rise with heightened public excitement and interest.
According to NASPL data, the total sales of lottery games in the U.S. from 2019 to 2023 are as follows:
| Year | Lottery Sales Total (Billion Dollars) |
|---|---|
| 2019 | 90.9 |
| 2020 | 89.6 |
| 2021 | 105.2 |
| 2022 | 107.9 |
| 2023 | 113.3 |
