Everyone knows the lottery pays well. With most jackpots well over $1 million, it is easy to win big when playing the lottery. In 2012, states gave over $42 billion in prize money. But which states are giving their lotto players the most? 24/7 Wall St iput together the information to give lottery players the insight to the states with the biggest payout.
In fifth is Texas, which paid $2.63 billion in 2012. The Texas state Lottery was established in 1992 and sold over $4 billion in tickets in 2012. The Texas Lottery benefits Texas education as well as the general fund.
Fourth highest jackpot was Florida, which gave out $2.75 billion in 2012. The Florida lottery was established in 1986 and sold almost $4.5 billion in ticket sales in 2012. The Florida lottery sales benefit Florida Education.
The third highest state for jackpot payouts is Rhode Island, which paid winners $2.91 billion in 2012. Rhode Island established a state lottery system in 1987, and sold over $250 million in ticket sales in 2012.Ticket sales for the Rhode Island lottery benefit the state general fund.
The second highest jackpot state is Massachusetts, which gave out a whopping $3.4 billion in prizes in 2012. The Massachusetts state lottery was established in 1971. Ticket sales for the Massachusetts Lottery came in at $4.72 billion in 2012, with sales benefitting cities and towns in Massachusetts.
New York paid the most in jackpots in 2012, giving winners a total of $4.13 billion. The New York Lottery has been around since 1966, and sold almost $8.5 billion in 2012 ticket sales. The New York Lottery benefits New york Education.