Powerball Whips Isaac: Lottery First Quarter Transfers to State Exceed Budget
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For the first quarter of fiscal year 2013, the Louisiana Lottery Corporation transferred $35.9 million to the state, up 5.6 percent from 2012 and exceeding budgeted transfers by more than $2.5 million despite downtime from Hurricane Isaac.
With first-quarter revenue of $102,608,887, the Lottery contributed $35,913,110 to the state treasury. By law, thirty-five percent of Lottery proceeds are transferred to the state treasury and dedicated for K-12 public education. No other lottery jurisdiction in the U.S. contributes a greater percentage of revenue to its government.
Lottery President Rose Hudson credited the Lottery's success over the last three months to two Powerball jackpots that exceeded $200 million and solid Mega Millions sales.
"A top-three Powerball jackpot of $337 million in August followed by another run that peaked at $202.1 million in September helped fuel sales," she said.
Retailers earn five percent sales commission on Lottery tickets, plus incentives for cashing winning tickets and bonuses for selling winning tickets, totaling about $5.65 million for July through September of 2012.
"Last fiscal year was our second most successful on record. To surpass 2012's first quarter results even with Hurricane Isaac is great news for the state," Hudson added.
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, on Facebook at www.facebook.com/louisianalottery or on Twitter at www.twitter.com/LALottery.
With first-quarter revenue of $102,608,887, the Lottery contributed $35,913,110 to the state treasury. By law, thirty-five percent of Lottery proceeds are transferred to the state treasury and dedicated for K-12 public education. No other lottery jurisdiction in the U.S. contributes a greater percentage of revenue to its government.
Lottery President Rose Hudson credited the Lottery's success over the last three months to two Powerball jackpots that exceeded $200 million and solid Mega Millions sales.
"A top-three Powerball jackpot of $337 million in August followed by another run that peaked at $202.1 million in September helped fuel sales," she said.
Retailers earn five percent sales commission on Lottery tickets, plus incentives for cashing winning tickets and bonuses for selling winning tickets, totaling about $5.65 million for July through September of 2012.
"Last fiscal year was our second most successful on record. To surpass 2012's first quarter results even with Hurricane Isaac is great news for the state," Hudson added.
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, on Facebook at www.facebook.com/louisianalottery or on Twitter at www.twitter.com/LALottery.