Lottery Second Quarter Transfers to State Exceed Budget
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For the second quarter of fiscal year 2013, the Louisiana Lottery Corporation transferred $39.6 million to the state, bringing total fiscal year-to-date contributions to $75.5 million, up 7.2 percent from 2012 and exceeding budgeted transfers by more than $8.7 million.
With second-quarter revenue of $113,247,073, Lottery state proceeds reached $39,636,480. By law, thirty-five percent of Lottery revenue is 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 overwhelming success over the last three months to the record-shattering $587.5 million Powerball jackpot from the Nov. 28 drawing.
"The impact of a record jackpot on sales is profound," she said. "November 2012 was our best month in more than 10 years!"
Retailers earn five percent sales commission on Lottery tickets, plus incentives for cashing winning tickets and bonuses for selling winning tickets, totaling about $6.2 million for October through December of 2012.
"As exciting as they are, huge jackpots are unpredictable," Hudson added. "To continue to move the needle, the Lottery must adapt its product and delivery to changing consumer habits and lifestyles, which are rapidly becoming more digital. In 2013, we'll continue to enhance the ways we engage with players and make our products relevant to their lives. That will ensure we hit the jackpot for years to come."
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.
With second-quarter revenue of $113,247,073, Lottery state proceeds reached $39,636,480. By law, thirty-five percent of Lottery revenue is 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 overwhelming success over the last three months to the record-shattering $587.5 million Powerball jackpot from the Nov. 28 drawing.
"The impact of a record jackpot on sales is profound," she said. "November 2012 was our best month in more than 10 years!"
Retailers earn five percent sales commission on Lottery tickets, plus incentives for cashing winning tickets and bonuses for selling winning tickets, totaling about $6.2 million for October through December of 2012.
"As exciting as they are, huge jackpots are unpredictable," Hudson added. "To continue to move the needle, the Lottery must adapt its product and delivery to changing consumer habits and lifestyles, which are rapidly becoming more digital. In 2013, we'll continue to enhance the ways we engage with players and make our products relevant to their lives. That will ensure we hit the jackpot for years to come."
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.