Top 5 states buying lottery tickets
People between the ages of 65 and 74 averaged the most annual spending on lottery tickets
Here are the top five states for lottery spending, according to the 24/7 Wall Street analysis.
Mississippi residents recently lined up to buy lottery tickets in their home state for the first time ever.
While it still remains to be seen how popular the state’s lottery will prove to be over time, the Mississippi Lottery Corporation told FOX Business it had made $300,000 in the first two hours of sales.
MISSISSIPPI RESIDENTS LINE UP TO PURCHASE LOTTERY TICKETS IN STATE FOR FIRST TIME
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Americans spent more than $71 billion on lottery tickets in 2017, according to the U.S. Census Bureau.
Sweven Wealth owner Troy Murphy and former U.S. International Trade Commission Chief Peter Morici on how the winner of the $768 million Powerball winner should handle their winnings and the debate over whether college student-athletes should be paid.
People between the ages of 65 and 74 averaged the most annual spending on lottery tickets, $132.42, according to the U.S. Bureau of Labor Statistics. People under 25 had the lowest average lottery spending, just $7.55.
So how much will those Mississippi residents have to spend on the lottery in order to keep up with other Americans? Using Census Bureau data, 24/7 Wall Street analyzed how much money the average person spends on the lottery in each state.
Here are the top five states for lottery spending, according to the 24/7 Wall Street analysis:
5. Georgia
Atlanta, Georgia, downtown city skyline.
The average adult spent $507.46 on the lottery, totaling $4 billion in sales. They took home $2.7 billion in prize money.
4. New York
Reflections of the New York State Capitol building and The Egg Performing Arts Center in Albany.
The average adult spent $530.72 on the lottery, totaling $8.3 billion in sales. They took home $4.6 billion in prize money.
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3. Delaware
Wilmington, Delaware.
The average adult spent $607.34 on the lottery, totaling $460.1 million in sales. They took home $135 million in prize money.
2. Rhode Island
People listen to music at the Newport Folk Festival in Newport, Rhode Island. (REUTERS/Shannon Stapleton)
The average adult spent $622.50 on the lottery, totaling $530.8 million in sales. They took home $157 million in prize money.
1. Massachusetts
Morning view of Quincy Market along the Freedom Trail across from the Great Hall of Faneuil Square in Boston, Massachusetts.
The average adult spent $926.71 on the lottery, totaling $5.1 billion in sales. They took home $3.7 billion in prize money.
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FOX Business' Daniella Genovese contributed to this report.