Posted on: September 1, 2024, 11:33h.
Last updated on: September 1, 2024, 11:33h.
The Virginia Lottery has made history by becoming the first state to sell more lottery tickets over the internet than in person during a given 12-month period.
The Virginia Lottery recently disclosed that it sold a record $5.521 billion in tickets during its 2024 fiscal year that ended June 30. Ticket sales surged almost 20% from $4.612 billion in 2023.
Lottery officials told the Lottery Post, an online news site focused on the U.S. lottery industry, that more than $3 billion of the sales came online. About $2.45 billion originated at brick-and-mortar lottery retailers.
The Virginia Lottery debuted internet games and ticket sales on July 1, 2020. Virginia Lottery spokesperson John Hagerty said annual internet sales have increased in each of the past four years to a record high in the 2024 fiscal year.
Online lottery gaming is legal in only nine states — Georgia, Illinois, Kentucky, Michigan, New Hampshire, North Dakota, North Carolina, Pennsylvania, and Virginia. Washington, DC, allows iLottery, too. Massachusetts is readying to launch its online lottery market late next year.
Virginia is the first iLottery jurisdiction to report higher annual online sales than in-person purchases. While the online numbers might be concerning for lottery retailers, Hagerty said in-person sales have grown in line with internet increases. The Virginia Lottery has roughly 5,300 businesses that serve as in-person lottery retailers.
Public Benefit
The Virginia Lottery primarily benefits K-12 public education. The lottery generates approximately $2.3 million per day for public schools.
Since the Virginia Lottery’s debut in 1999, lottery profits to the tune of more than $13.6 billion have gone to support primary and secondary public education. Virginia Gov. Glenn Youngkin (R) celebrated the lottery’s latest fiscal performance.
Over the course of my administration, we have been able to achieve record funding for K-12 education, allowing for increased opportunities in the classroom,” Youngkin said. “I am so thrilled these record profits will help provide the necessary support and resources for Virginia’s students.”
About 10% of Virginia’s K-12 education budget comes from Virginia Lottery profits. The $5.5 billion in FY24 game sales led to a record lottery profit of more than $934 million.
$1M Wedding Gift
One recent Virginia Lottery winner who won $1 million on Cash4Life during the Aug. 3 drawing is using the money to get his son out of his basement.
Aaron Andrews got married in April and since has been living in his father’s basement with his wife in Prince William County. His father, an avid lottery player, finally hit a big win when his ticket matched the five drawn white numbers of 25, 35, 36, 41, and 59.
Andrews’ father’s luck in overcoming the one in more than 7.28 million odds gave him the option of collecting $1,000 a week for life or taking a one-time cash option of $1 million. The elder Andrews chose the $1 million pre-tax option and gifted the money to his son.
I have a great father who has done nothing but look out for me,” Aaron told the Virginia Lottery while redeeming the ticket last week. “This was the best way to get him out of the basement,” his dad said jokingly.
Along with the $1 million cash being subjected to a federal tax of 37%, Virginia taxes lottery winnings at 5.75%. After taxes, the younger Andrews will keep about $572,500.
