Big winners reduce Iowa Lottery profitability

Comment #11

RJOh — Fri, 30 Jul 2010 16:13:07 GMT

Even if you take the cash, the check will show the annuity amount of $85.0M

Comment #10

dpoly1 — Fri, 30 Jul 2010 15:59:45 GMT

Without winners the lottery would grind to a halt !

The store where I purchase my powerball tickets has a giant $200,000 Winner check hanging above the lottery machine !

I am hoping for a $45.4 Million winner check to be hanging in that store ! ........... after I win !

Citizens First

Comment #9

Winlotta — Fri, 30 Jul 2010 03:47:46 GMT

Iowa Lottery Chief Executive Terry Rich - . . . . . . fascinating. . . . . . name

Comment #8

rcbbuckeye — Fri, 30 Jul 2010 01:05:20 GMT

Scratchers are probably the biggest seller in every state with a lottery. I never used to play them, but the last couple of months I've been buying them, and I win more on them than any other game.

Comment #7

RJOh — Thu, 29 Jul 2010 18:36:17 GMT

Scratch tickets brought in $143.7 million.

Considering Iowa has about 3 millions people and half of them would probably be too young to buy lottery tickets, that's an average of 98 scratch tickets per potential player per year and if only half of them actual play then it's closer to 200 per player per year.

They probably have a lot of places selling scratch tickets that don't offer their on-line games.

Comment #6

Delta Draw — Thu, 29 Jul 2010 07:52:38 GMT

Scratchers are a guaranteed pool to play from. People like fixed odds for one game and want to play against the same odds or better hoping they will win before all the tickets are sold. Kind of like raffle ticket feaver.People are getting desperate and any peak in sales will precede a sharp drop. I expect the divisions to make some changes soon. Looks like CA is on to it.

DD

Comment #5

rdgrnr — Thu, 29 Jul 2010 03:22:21 GMT

I think it's amazing how scratchers just literally blow away the other games in sales.

I almost never even think about them much less buy them.

But apparently there's a whole lotta people buying them like crazy.

Comment #4

Todd — Wed, 28 Jul 2010 22:02:16 GMT

No, it was sort of a joke.

Comment #3

louise black — Wed, 28 Jul 2010 21:05:31 GMT

Well, Todd from your comments you do a lot of traveling may we look up one day to find are a millionaire in any of the states playing.Anyway good luck on that ,I play Ind. Oh,Ill and where I am home Tenn.

Comment #2

Todd — Wed, 28 Jul 2010 16:47:12 GMT

I wonder why I wasn't one of them.

Comment #1

ressuccess — Wed, 28 Jul 2010 16:42:42 GMT

I wonder why there were too many winners to drop Iowa's profit in their lottery

Big winners reduce Iowa Lottery profitability

Lottery Post — Wed, 28 Jul 2010 14:52:29 GMT

Iowa Lottery sales rose over the past 12 months, although profits dipped slightly amid a surge of lucky prize winners.

Preliminary figures released Tuesday show sales totaled $256.3 million for the state budget year ending June 30, up about 5 percent from a year earlier. Lottery proceeds, spent on state government programs, totaled $57.9 million, down about 4 percent from a year ago.

Iowa Lottery Chief Executive Terry Rich said two key factors reduced lottery profits. One is that prize pay... [ More ]