Colorado Lottery Reports Record Sales of Nearly $890 Million in Revenue and More than $195 Million for Proceeds
PUEBLO, Colorado (August 29, 2023) — For the 3rd consecutive year, the Colorado Lottery announces a record sales year of nearly $890 million and Lottery proceeds distribution record of more than $195 million that will be distributed among beneficiaries for fiscal year 2023.
Except for the 2020 COVID-19 year, the Lottery has seen year-over-year record sales for seven straight years. A banner year for record-setting jackpots, the Lottery’s two Mega Millions and one Powerball Jackpot that exceeded $1 billion each drove a large boost for this year’s sales, with more than $293 million in sales across all jackpot games. The Lottery’s sales for Powerball and Mega Millions alone are over $66 million more than the Lottery’s initial goal.
Overall, the Lottery’s Scratch product segment continues as the largest revenue generator, with sales of nearly $597 million. Here is a detailed breakdown of the Lottery’s revenue by game and proceeds over the past five years. Lottery sales and proceeds numbers provided here are unaudited and subject to slight variations.
Also in fiscal year 2023, the Lottery reached the Great Outdoors Colorado (GOCO) cap early in April 2023, receiving $75.1 million. Conservation Trust Fund (CTF) will receive $78 million. Colorado Parks and Wildlife (CPW) will receive $19.5 million, plus an additional $8.3 million in funding for its Parks/Outdoors Recreation and Wildlife Cash Funds. Building Excellent Schools Today’s (BEST) spillover revenue is $11.3 million. Additionally, the Outdoor Equity Fund will receive its full allocation of $2.25 million.
“As our revenue grows, so does the Lottery’s dedication to responsibility,” said Tom Seaver, Director of the Colorado Lottery. “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.”
Of every dollar spent on Lottery games, 65 cents goes back to winners and 21-24 cents to proceeds beneficiaries. Lottery retailers receive an average of more than $19,000 every year selling Lottery products. As a state agency committed to fiscal responsibility, in fiscal year 2023, the Lottery worked to increase programming around responsible gaming and continues to find responsible ways to increase revenues responsibly.
About Colorado Lottery
Since 1983, the Colorado Lottery has returned more than $4 billion to outdoor projects through Great Outdoors Colorado, the Conservation Trust Fund, and Colorado Parks and Wildlife and Building Excellent Schools Today. Proceeds from sales of Colorado Lottery games – Scratch, Powerball, Mega Millions, Colorado Lotto+, Lucky for Life, Cash 5, and Pick 3 – enhance, protect, improve parks, trails, and open space in Colorado. For more information, visit coloradolottery.com.
SOURCE: Colorado Lottery.Tags: Transfers to Beneficiaries, Colorado Lottery, Revenue, Fiscal Year 2023