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N.C. Lottery will not generate expected revenue

North Carolina LotteryNorth Carolina Lottery: N.C. Lottery will not generate expected revenue

North Carolina Lottery officials don't believe the payoff from the state lottery will be as big as lawmakers and Gov. Mike Easley think it will be.

N.C. Education Lottery commissioners guessed Powerball and other games will bring in $402 million in the lottery's first full year in a budget approved Tuesday.

That's $23 million less than the amount Easley touted in pitching the game to lawmakers.

Lottery spokeswoman Pam Walker said commission members wanted to pick a target they're sure they can hit. She said the money still provides a large boost for prekindergarten, reducing elementary school class size and college scholarships.

"They can do a lot with $400 million," Walker said of legislators.

House and Senate leaders, Easley and other lottery boosters who convinced lawmakers to approve a lottery last year argued the state could bring in $425 million. Easley used that figure in his proposed budget. Lawmakers who are still debating the spending plan are using that figure.

Others, including lottery director Tom Shaheen, have used figures closer to $400 million. The lottery's budget is the first time commissioners made a formal comment on how much they believe the games will bring in.

The lower projection didn't faze lottery boosters Tuesday.

"The first time someone (from North Carolina) wins the Powerball, you'll see more revenues," said Rep. Bill Owens, D-Pasquotank, who wrote the lottery bill.

Easley spokeswoman Cari Boyce said the governor would consider the lottery officials' projections, but added, "We still believe that $425 million is a realistic figure."

In any case, the lottery won't go broke. The lottery's budget is based on a fiscal year that starts July 1. The lottery started three months before the fiscal year's start, so the state will have an estimated $50 million cushion because of sales legislators weren't banking on, lottery officials said.

Charlotte Observer

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5 comments. Last comment 10 years ago by LOTTOMIKE.
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Coastal Georgia
United States
Member #2653
October 30, 2003
1866 Posts
Offline
Posted: June 14, 2006, 7:46 am - IP Logged

North Carolina Lottery officials don't believe the payoff from the state lottery will be as big as lawmakers and Gov. Mike Easley think it will be.

Guess what ? We have something in common:

I don't believe the payoff from the lottery will be as big as I expect it to be either.

DD

 

                               

              

 

 

    Avatar
    Raleigh, NC
    United States
    Member #40946
    June 9, 2006
    70 Posts
    Offline
    Posted: June 14, 2006, 8:14 am - IP Logged

    Gee, that's shocking, there's not as many suckers in the state as the governor had envisioned, even with one being born every minute.  Amazing what even a public school education will do for your common sense.

      Avatar

      United States
      Member #26469
      November 18, 2005
      160 Posts
      Offline
      Posted: June 14, 2006, 11:28 am - IP Logged

      Anyone can see that higher gas prices are cutting into the disposeable income of families.There are only so many dollars to go around.People have to cut back and items like lottery tickets are one of the first to go.

       


        United States
        Member #379
        June 5, 2002
        11296 Posts
        Offline
        Posted: June 14, 2006, 12:28 pm - IP Logged

        North Carolina scratches have a lower prize return than South Carolina's and the other bordering states. NC needs to increase the payout % on its scratch games, and not rely heavily on PB for revenue.

          LOTTOMIKE's avatar - cash money.jpg
          Tennessee
          United States
          Member #7853
          October 15, 2004
          11338 Posts
          Offline
          Posted: June 14, 2006, 7:48 pm - IP Logged

          don't cheat the people either with lousy payouts.....