Third Quarter Lottery Transfers Down
Bringing year-to-date contributions to $119.7 million, the Louisiana Lottery Corporation transferred $41.5 million to the state treasury during the third quarter of fiscal year 2017, down $16.6 million from the same quarter last year. “January 2016 was the best month of sales in our 25-year history, about double an average month,” explained Lottery President Rose Hudson. “The $1.58 billion world- record Powerball jackpot was responsible for that windfall, but unfortunately we cannot predict or expect those types of jackpots to occur with regularity.” In addition to lower Powerball revenue, Hudson noted that scratch-off game sales have plateaued after six years of consecutive growth. She attributed that to both the economic slump of the oil and gas industry as well as to game offering changes necessitated by the legislature’s previous sweep of the corporation’s unclaimed prize fund, which was being used to enrich prize payouts.With third-quarter revenue of $118,651,530, the Lottery contributed $41,528,050 to the state treasury. By law, at least 35 percent of Lottery proceeds are transferred to the state treasury and dedicated for K-12 public education. Roughly 53 percent of sales fund prizes, and less than 6 percent is used to operate the Lottery.Retailers earn 5.5 percent in compensation, including commission, incentives for cashing winning tickets and bonuses for selling winning tickets, totaling more than $6.6 million for January through March of 2017. Since its inception in 1991, the Lottery has transferred more than $3.3 billion to the state.Lottery ticket purchasers must be at least 21 years of age. Anyone with a gambling problem, or friends of anyone with a gambling problem, is encouraged to call toll-free 1-877-770-7867 for assistance. For security purposes, players should sign the back of their tickets after purchasing.More information on the Louisiana Lottery can be found on its website www.louisianalottery.com.