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Oklahoma Lottery ups the ante for retailers

Oklahoma LotteryOklahoma Lottery: Oklahoma Lottery ups the ante for retailers

Oklahoma Lottery commissioners have increased the financial incentive for store owners to sell scratch-off tickets, even before the games have begun.

Commissioners decided Tuesday to give stores three-quarters of 1 percent of the value of each winning ticket cashed. They were already slated to receive 6 percent of ticket sales revenue.

The scratch-off game is scheduled to begin next month.

Under the new incentive, a store that sells $1,000 in tickets in a week and cashes winning tickets worth $500 would make $63.75. Before Tuesday's vote by Lottery Commission trustees, that store would have made $60.

"I think it will be the incentive we need to reach the sales target," said Tom Riley Jr., a Lottery Commission trustee.

Jim Scroggins, the lottery's executive director, hopes the extra amount will encourage more stores not only to sign up as ticket sellers, but also as ticket cashers.

"It's important for the retailer, the customer and for us. Everybody wins in that deal," he said.

Scroggins figures the incentive will cost less than $500,000 per year and will be worth every penny.

"It saves us a lot of money if they (retailers) do it, because if a winner has to drive to our office to cash a $5 ticket, not only do we have to validate it, we have to write a check," he said.

By comparison, North Carolina pays retailers 7 percent to sell tickets and 1 percent to cash them. Missouri's rates are 5 percent and 2 percent, respectively, Scroggins said.

State law requires any winning ticket more than $600 be cashed by the Lottery Commission and not by a store.

Scroggins told his oversight board that "several hundred" stores have been approved to sell tickets. After the meeting, he said he didn't have a more precise number.

Scroggins hopes to have at least 1,000 terminals installed by Oct. 12 and 3,500 eventually.

AP

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3 comments. Last comment 11 years ago by CASH Only.
Page 1 of 1

United States
Member #379
June 5, 2002
11296 Posts
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Posted: September 15, 2005, 5:23 pm - IP Logged

The OK sales commission will be the same as NY (6%), but NY doesn't have a commission for cashing tickets. I don't hear much complaining by NY retailers having no incentive for cashing winning tickets.

    wizeguy's avatar - animaniacs04

    United States
    Member #15143
    May 10, 2005
    414 Posts
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    Posted: September 16, 2005, 9:48 am - IP Logged

    The OK sales commission will be the same as NY (6%), but NY doesn't have a commission for cashing tickets. I don't hear much complaining by NY retailers having no incentive for cashing winning tickets.

    The incentive they have is that many winners, esp the smaller ones, turn their winnings into more tickets.

     


      United States
      Member #379
      June 5, 2002
      11296 Posts
      Offline
      Posted: September 20, 2005, 4:06 pm - IP Logged

      True, but I've heard stories about winners having a hard time getting their money. There SHOULD be an incentive for cashing winners as well.