South Dakota sees record spending, revenue from gambling and lottery – SDPB Radio

South Dakota sees record spending, revenue from gambling and lottery – SDPB Radio

South Dakota broke records when people bet more than $1.4 billion in Deadwood and spent more than $1 billion on lotteries last year.

People have been wagering between $1 million and $1.2 million in Deadwood since 2007.

But the bets jumped to $1.4 million during Fiscal Year 2021, which ran from July 2020 through June 2021.

The wagers increased 24.2% compared to the previous year, when Deadwood casinos shut down for 44 days due to the pandemic.

That’s the largest increase since Fiscal Year 1991, the first full-year of gambling after Deadwood opened its casinos in Nov. 1989.

Gamblers also won and lost the most money ever. They took home $1.3 billion while losing $133 million.

The industry brought in $21.6 million in revenue and gave $15 million of it to schools and state and local governments. Most of the money — $7.9 million — goes to the City of Deadwood.

South Dakota Department of Revenue

Lottery sales and revenue from Fiscal Year 2021

Meanwhile, people spent spent $1.1 billion on lottery games and took home $786 million last year.

Nearly all of the money — $1 billion of it — was spent on video lotteries. The rest came from lottery and instant tickets.

South Dakotans spent $859.6 million and took home $602.9 million on the lottery during the previous fiscal year.

Last year’s lottery industry generated $161.9 million for the state.

Most of the money — $156.5 million — goes to public schools. The remainder pays for rural water systems, drinking water, wastewater and services related to gambling addictions.

Source: https://listen.sdpb.org/business-economics/2022-01-06/south-dakota-sees-record-spending-revenue-from-gambling-and-lottery

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