Payment through the digital coin is increasingly becoming popular among gamers contributing significantly to the popularity of online gambling. Some countries such as the UK have now banned credit cards from being used for gambling which has resulted in making e-wallets such as Paypal and Skrill unusable for online gambling. Florida is quite a populous state, with the estimate for 2019 being 21.48M, so we see a loss of about $116.98/resident. Florida is home to a state lottery that participates in multi-state drawing games and outperforms the average when it comes to lose per resident. Instant tickets can go to $30 each in Florida, and overall return to players for Instant Tickets for the state come in at under 75%. That’s above average compared to other states, probably meaningfully above average, so our best guess is that Florida has a higher proportion of sales belonging to higher denomination and slightly better returning Instant Tickets when compared to other states.
Perhaps surprisingly, Florida’s Lottery pulled better numbers for the Fiscal Year ended in June of 2020, despite a few months of that situs slot online being during the early stages of Covid. It’s also important to note that, unlike Delaware, Florida is not home to Commercial Casinos and has no licensed and regulated through the state online casinos. Hence, while there are a few Tribal Casinos owned by the Seminole Tribe, most Floridians don’t have access to better returning forms of gambling. One thing that we have found when it comes to Traditional Lottery Revenues by the state is that overall population density or, at least, having a few major cities is a highly contributing factor.
The reason why is because that puts a considerable percentage of the population convenient to a lottery retailer, so for that reason, states where the population is more spread out such as Wyoming and the Dakotas, for a few examples, tend not to do as well. We can look at the 2019 Annual Lottery Report for the State of Florida, where we will find that total lottery sales were $7,151,236,000 compared to total prizes of 4,638,488,000, thereby resulting in losses to the lottery of 2,512,748,000, which is well over two and a half BILLION dollars for the Fiscal Year. That can mainly be attributed to Florida not being as strict with shutdowns as some other states, particularly New York, Pennsylvania, and California, so our main lottery page will look at the 2019 Fiscal Year for all lotteries.