New Jersey Lottery Sets Sales Record
The New Jersey Lottery has announced a record-breaking $3.73 billion in sales for Fiscal Year 2023. This represents a 2.55% increase over the previous fiscal year, culminating in the largest-ever contribution of $1.17 billion to support New Jersey’s public employee pension system. This year’s contribution is a continuation of the Lottery’s impressive track record, exceeding one billion dollars for the sixth time.
Established in 1970, the New Jersey Lottery has contributed over $32.5 billion to the state, supporting various programs and services. Through a strategic 30-year agreement signed into law in 2017, the Lottery continues to be a crucial contributor to the public employee pension system, underscoring its importance to New Jersey’s revenue and public services.
The surge in sales was primarily driven by multistate games, with Mega Millions sales increasing by 99.4% to $293.7 million and Powerball sales increasing by 28.1% to $308.6 million. Despite this success, the Lottery experienced slight declines in scratch-off sales and traditional games like Pick-3 and Pick-4.
The Lottery’s success is not just a windfall for the state’s finances but also for the players and retailers. In FY23, New Jersey players received a total of $2.23 billion in prizes, including a notable $17.3 million Pick-6 prize. Additionally, nearly 7,000 retailers collectively earned $220 million in commissions.
Note!
The New Jersey Lottery’s record sales and substantial contributions to the state pension system illustrate the significant role lotteries can play in supporting public finances. Over $32.5 billion has been contributed to the state pension system since 1970
“We are pleased with the successful year. For players, nothing compares to seeing jackpots reach previously unimagined heights. As always, we do not accomplish this work on our own. Our retail partners are the daily face of the Lottery, and they must be applauded for their hard work, as should all our vendors who help us reach our goals,” said Executive Director James Carey.
“While multistate game sales surged this fiscal year, those gains must be kept in perspective with New Jersey-only game sales. We are constantly looking at new ways to improve the Lottery’s games and player experience,” he added.
