The $2B Powerball Jackpot Produces $100M for NY Schools, Lottery Retailers

Posted on: November 21, 2022, 09:04h. 

Last updated on: November 22, 2022, 12:06h.

Steve Bittenbender Read More
Expertise: Legislation, Sports Betting, Horse Racing.

A New Yorker didn’t win the $2 billion Powerball drawing earlier this month. But according to the New York State Gaming Commission (NYSGC), the state’s schools and lottery retailers became big winners from the buzz surrounding the record-breaking jackpot.

NY Powerball Lottery sign
A New York Lottery retailer’s sign shows values for the then-upcoming Mega Millions and Powerball drawings on Oct. 22, 2018. The New York Lottery reported selling nearly $225 million in Powerball tickets during the recent period that led up to a record $2 billion jackpot. (Image: Brendan McDermid/Reuters) RC1279C12B00

The NYSGC reported Monday that it sold $224.5 million Powerball tickets during the 41 drawings that took place from Aug. 6 to Nov. 7, when a ticket in California finally matched all five numbers and the Powerball. New York’s public elementary, middle, and high schools received $85.6 million, which represents the profits the state made from the ticket sales.

Lottery retailers, meanwhile, earned $14.7 million in commissions.

The numbers speak for themselves: The New York Lottery provides fun and entertainment for millions of responsible New Yorkers, while also repeatedly smashing revenue records for public schools and supporting small businesses across the state,” New York State Gaming Commission Chairman Brian O’Dwyer said in a statement.

Over the course of the three months that the Powerball jackpot grew, 10 New Yorkers wound up winning $1 million by matching all five numbers in the first pool. Another player took home $2 million for matching all five and playing the Powerplay multiplier option, which allows players to increase their winnings.

In addition, 116 New Yorkers won $50,000 for matching four of the five numbers and the Powerball. Six Powerplay winners took home $100,000, and one received $150,000.

Big Mega Millions Jackpot Produced Similar Return

The huge Powerball jackpot came just more than three months after the Mega Millions jackpot reached $1.34 billion, the second-largest Mega Millions jackpot in history.

The New York Lottery sold $126.6 million in tickets during the 30 drawings that the jackpot was building. That provided $44.3 million to state schools and $7.6 million in retailer commissions.

Powerball Sales Already Surpass Last Year

Thanks to the record jackpot, the New York Lottery has already exceeded its Powerball sales total from the last fiscal year, and there are still about four-and-a-half months left in the current one.

Through Nov. 12, NYSGC data shows the state lottery has sold $375.5 million in Powerball tickets for the 2022-23 fiscal year, which started in April. During the 2021-22 fiscal year, the lottery sold $356.6 million.

For the fiscal year, the lottery has reported nearly $5.3 billion in sales. More than half of that, $2.81 billion, comes from sales of instant-win games.

Powerball ranks fifth in sales among the New York Lottery’s games. Win 4 has reported $584.9 million, while Numbers, the lottery’s pick-three game, has $562.9 million in sales. Quick Draw, a keno game that’s drawn every four minutes, has $402.2 million in sales.

Mega Millions has accounted for $286.5 million in sales.

Those three daily games have relatively consistent sales figures per week, according to a review of the NYSGC data. Powerball sales have ranged from $4 million in a week to $94.2 million for the week ending Nov. 5.

Powerball is drawn three times a week, every Monday, Wednesday, and Saturday. New York is one of 45 states, plus Washington, DC, Puerto Rico, and the US Virgin Islands, participating in the multi-state lottery.