Louisiana Lottery Transfers Nearly $47.8 Million to State for Third Quarter, On Target to Finish Second-Best Fiscal Year
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BATON ROUGE – For the third quarter of fiscal year 2024, the Louisiana Lottery Corporation transferred nearly $47.8 million to the state treasury with another $15.9 million transferred in April. Year-to-date transfers are $169.9 million, which is nearly $12 million better than budget. With two more months until the end of the Lottery’s fiscal year, 2024 is on target to be second-best only to 2023.
With revenue of $156,278,610, the Lottery’s total third-quarter state transfers were $47,772,668 or 30.6%. Since the Lottery began operations in 1991, it has brought in almost $13.4 billion in revenue and transferred more than $4.7 billion to the state treasury, which is used primarily to fund K-12 public education.
“Jackpot fatigue is definitely having an impact on sales,” explained Lottery President Rose Hudson. “Players have become accustomed to billion-dollar jackpots – we’ve had five of them this fiscal year – and it takes much higher jackpot amounts to generate the same level of excitement. Fortunately, the Lottery has a diversified product portfolio to meet the varied interests of our players and our performance demonstrates it.”
Retailers earn 5% sales commission, plus incentives for cashing winning tickets and bonuses for selling big winning tickets. For January through March of 2024, retailer compensation totaled over $8.7 million, bringing total fiscal-year-to-date retailer earnings to nearly $27.4 million.
Over the last couple of years, the Lottery began adjusting scratch-off game prize structures, increasing prize payouts, adding more higher price-point games and launching new types of games. This strategy has been well received by players, resulting in net gains for 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, including current and historical financial information, can be found on its website www.louisianalottery.com. Follow the Louisiana Lottery on Facebook at http://www.facebook.com/louisianalottery or on X at www.x.com/LALottery for the latest news.
With revenue of $156,278,610, the Lottery’s total third-quarter state transfers were $47,772,668 or 30.6%. Since the Lottery began operations in 1991, it has brought in almost $13.4 billion in revenue and transferred more than $4.7 billion to the state treasury, which is used primarily to fund K-12 public education.
“Jackpot fatigue is definitely having an impact on sales,” explained Lottery President Rose Hudson. “Players have become accustomed to billion-dollar jackpots – we’ve had five of them this fiscal year – and it takes much higher jackpot amounts to generate the same level of excitement. Fortunately, the Lottery has a diversified product portfolio to meet the varied interests of our players and our performance demonstrates it.”
Retailers earn 5% sales commission, plus incentives for cashing winning tickets and bonuses for selling big winning tickets. For January through March of 2024, retailer compensation totaled over $8.7 million, bringing total fiscal-year-to-date retailer earnings to nearly $27.4 million.
Over the last couple of years, the Lottery began adjusting scratch-off game prize structures, increasing prize payouts, adding more higher price-point games and launching new types of games. This strategy has been well received by players, resulting in net gains for 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, including current and historical financial information, can be found on its website www.louisianalottery.com. Follow the Louisiana Lottery on Facebook at http://www.facebook.com/louisianalottery or on X at www.x.com/LALottery for the latest news.