Colorado Lottery just had its best year ever: See where people are spending their money
More than $195 million will be distributed to beneficiaries within Colorado, gaming officials said
How lucky were Coloradans feeling last year? Very lucky.
The Colorado Lottery on Tuesday announced a third consecutive record year for revenue, nearly reaching $890 million for the FY 2022-23 year.
The Colorado Lottery has now seen year-over-year revenue growth in six of its last seven years, with the COVID-19-affected 2020 as the only outlier.
What Colorado Lottery games make the most revenue?
Scratch tickets continue to be the biggest revenue driver for the Colorado Lottery over the last year, accounting for nearly $597 million — more than two-thirds of the overall pie. That number, however, was largely flat year-over-year, with a meager 1.1% growth.
The numbers show an increased number of Coloradans hoping to hit the monster jackpot over the last year. Jackpot games saw a 23.9% increase in revenue year-over-year.
The growth was driven by big increases in spending on Powerball and Mega Millions, which offset a decline in the Lotto/Lotto+ game.
“As our revenue grows, so does the Lottery’s dedication to responsibility,” Tom Seaver, Director of the Colorado Lottery, said in a news release. “Record proceeds also means more support for parks, recreation, open space, and wildlife preservation projects. Responsible revenue growth helps us boost our commitment to helping create the places that make Colorado the best place to live.”
Where do Colorado Lottery proceeds go?
Colorado Lottery officials said 65 cents of every dollar spent goes back to winners and 21-24 cents goes toward beneficiaries. Lottery retailers also get a slice of the action, earning about $19,000 each, according to gaming officials.
A record of more than $195 million will be distributed to beneficiaries in 2023, Lottery officials said. Here’s how it breaks down: Great Outdoors Colorado got its $75.1 million slice of the revenue pie and the Conservation Trust Fund will get $78 million, according to figures released by the Colorado Lottery.
Colorado Parks and Wildlife rakes in $19.5 million, plus an additional $8.3 million for its Parks/Outdoors, Recreation and Wildlife Cash funds.
Building Excellent Schools Today will receive $11.3 million — $8.3 million of which was in “spillover revenue” — and the Outdoor Equity Fund will receive its full allocation of $2.25 million, gaming officials said.
