Ask Yahoo!
Ask Home - Yahoo! - Help

 Ask Yahoo!
Wednesday February 4, 2004 Previous | Next
Dear Yahoo!:
How much money goes unclaimed in state lotteries?
Lucky
Youngstown, Ohio
Dear Lucky:
While we couldn't find an exact figure, columnist Al Tompkins of Poynter Online estimates that hundreds of millions of state lottery dollars go unclaimed every year. This seems entirely reasonable, considering the net amount of money involved. According to the North American Association of State and Provincial Lotteries, during the last fiscal year, U.S. lottery sales totaled $44.9 billion.

To pick one state (albeit a big one), this table from LottoReport.com reports that last year, Texas had $72 million dollars of unclaimed state lottery prize money. California had roughly $38 million. Florida governor Jeb Bush awarded a single unclaimed $30 million dollar ticket to his state's languishing education budget.

Where does all this unclaimed money go? Out of the 38 states that hold lotteries, 10 of them roll over all the money to the prize pool. Other states take percentages towards "state asset pools," such as education, transportation, or tax relief. The NASPL offers a state-by-state guide to where the money is transferred.

Over 57% of Americans played the lottery last year. The largest jackpot ever? On Christmas day 2002, Jack Whittaker of West Virginia won $314.9 million, to be paid out over 30 years. He elected to receive a lump sum payment of $170.5 million instead.

 
Related Links
·Does the government create new money?
·Y! Full Coverage: Gambling and Lottery
More Questions About
·Business & Finance
Get Ask Your Way
·Most Popular
·Yahoo! Toolbar
· View RSS Feed  add to My Yahoo!
Email this page -    Save to del.icio.us    Save to My Web    Digg This

Copyright © 2004 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy

All information available through or in connection with Ask Yahoo! is informational only and provided "as is" without warranties, representations, or guarantees of any kind. Yahoo! disclaims any and all implied warranties respecting Ask Yahoo!. Use of Ask Yahoo! is entirely at your own risk and is not a substitute for conducting your own research.