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Nebraska cashes in on record lottery sales

Nebraska LotteryNebraska Lottery: Nebraska cashes in on record lottery sales

Nebraska also was a big winner this week in the Powerball lottery.

Over the 10 weeks it took to amass the record $340 million jackpot, Nebraska profited about $2.1 million for education, environmental and State Fair trust funds.

"A big run like that is always good for the bottom line," said Brian Rockey, spokesman for the Nebraska Lottery.

An Oregon couple won the Wednesday drawing. The winning numbers: 7, 21, 43, 44, 49 and 29.

Since the game started on Aug. 10, $9.7 million in $1 tickets were sold in Nebraska - $1.1 million on the final day, Rockey said.

Powerball tickets are sold in 27 states, the District of Columbia and the Virgin Islands.

The states get 50 cents from each ticket. The remainder goes to the prize pool.

Nebraska's goes into four trust funds.

AP

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7 comments. Last comment 11 years ago by CASH Only.
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Sparta, NJ
United States
Member #18331
July 9, 2005
1977 Posts
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Posted: October 24, 2005, 10:59 am - IP Logged

Has there ever been a headline, where a state lost money on the lottery? 50% percent profit on every dollar spent would make that an impossibility. Yet states still manage to go into debt. Amazing.

Cheers

|||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

I only trust myself - and that's a questionable choice

    Todd's avatar - Cylon 2.gif
    Chief Bottle Washer
    New Jersey
    United States
    Member #1
    May 31, 2000
    23260 Posts
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    Posted: October 24, 2005, 11:37 am - IP Logged

    The state never loses money, but they can and do sometimes not meet their budgetary targets.

    With more and more states relying on lottery funds for their budgets, the state lotteries are under increasing pressure to bring in more money than the previous year.  It is considered a "loss" if they do not do so.  Just like if Microsoft did not sell as many copies of Windows as they expected.

     

    Check the State Lottery Report Card
    What grade did your lottery earn?

     

    Sign the Petition for True Lottery Drawings
    Help eliminate computerized drawings!

      bellyache's avatar - 64x64a9wg

      United States
      Member #12618
      March 18, 2005
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      Posted: October 24, 2005, 1:31 pm - IP Logged

      Hopefully, with all the money these states have brought in recently, we see it helping the education system a bit more.

      Dance like no one is watching.

        Avatar
        Sparta, NJ
        United States
        Member #18331
        July 9, 2005
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        Posted: October 24, 2005, 1:37 pm - IP Logged

        Hopefully, with all the money these states have brought in recently, we see it helping the education system a bit more.

        Not all states use lottery money for education; Penn gives it to the elderly. Having said that, remember, when they add money from the lottery for something, they take away normal funding for that same area and spend it some where else. The advantage is, the out-of-state ticket buyer doesn't complain about supplementing the state treasury.

        Cheers

        |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

        I only trust myself - and that's a questionable choice

          Avatar
          Sparta, NJ
          United States
          Member #18331
          July 9, 2005
          1977 Posts
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          Posted: October 24, 2005, 1:40 pm - IP Logged

           Just like if Microsoft did not sell as many copies of Windows as they expected.

          Valid point. In my company, its called, not losing as much as projected.

          Cheers

          |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

          I only trust myself - and that's a questionable choice


            United States
            Member #16612
            June 2, 2005
            3493 Posts
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            Posted: October 25, 2005, 1:45 pm - IP Logged

            Well, I was happy to see NE sales go to education after a PB winner. It was great for NE to get 50 cents profit per every dollar they sell in PB to education. I hope NE doesn't have a big budget deficit just like CA.


              United States
              Member #379
              June 5, 2002
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              Posted: October 30, 2005, 1:22 pm - IP Logged

              Well, I was happy to see NE sales go to education after a PB winner. It was great for NE to get 50 cents profit per every dollar they sell in PB to education. I hope NE doesn't have a big budget deficit just like CA.

              If Nebraska had a budget deficit the size of California's, NE would go bankrupt. Maybe its lottery would no longer exist.