Privatization of Lottery

Reply #9

helpmewin — Mon, 17 Dec 2012 16:40:41 GMT

Reply #8

dallascowboyfan — Mon, 17 Dec 2012 08:02:49 GMT

Reply #7

Coin Toss — Mon, 17 Dec 2012 05:57:55 GMT

jaggudada,

This is from the Chicago Reporter:

The Illinois Lottery was once lauded as a way to help fund public education, but now it s become a forgotten resource in discussions about how to boost revenue for schools.

For every dollar spent on lottery tickets in Illinois, just 30 cents actually goes to public schools, according to the Illinois Association of School Boards. Another 58 cents is paid to players in prizes. And the remaining 12 cents covers commissions, bonuses and operatin... [ More ]

Reply #6

Coin Toss — Mon, 17 Dec 2012 05:34:24 GMT

Since Northstar took over the Illinois lottery things have tightened up for the players.

On scratchers where you try to match a single digit number there are now double digit numbers (i.e. more losers) in the area where you scratch the numbers.

The Lucky Day Lotto has an optional $1 EZmatch.....top prized of $500, odds againt 210,000:1. Far better off to put the additional dollar on the game itself, 575,000:1, jackpot starts at $100,000.

The Pick 6 now has an Extra Shot.....a QP that ha... [ More ]

Reply #5

Original Bey — Mon, 17 Dec 2012 02:52:35 GMT

These private companies that take over the complete running of a state lottery are paid a hefty amount of cash along with huge incentives if goals are met. That's the other entity being referred to in the post above.

To outsource sales and marketing equates to outsourcing labor and expertise. That's a far cry from giving it up whole hog.

Companies that bid for these opportunities don't ever emphasize in their proposals implementing tons of efficiencies that will reduce the costs of ru... [ More ]

Reply #4

billionaire2bee — Mon, 17 Dec 2012 02:33:51 GMT

I don't care who runs it long as I win....hopefully a large jackpot....

Reply #3

jaggudada — Mon, 17 Dec 2012 02:28:42 GMT

I didn't say you have to add another entity. Once you privatize, whoever offers better products and services , whoever is more efficient will survive in the market place.

In other words, whatever inefficiency is there in State running this, will be available for additional prize money to be distributed among people. Private companies will be able to run this on 3-5% margin.

Reply #2

jackpotismine — Thu, 13 Dec 2012 02:56:32 GMT

I agree. 'They' don't have the best interest of the player.

Reply #1

haymaker — Thu, 13 Dec 2012 02:29:01 GMT

OK,

Explain to me how adding another entitity makes it better for less, w/out costing players more ?

jersey is getting ready to do this, but only for sales and marketing depts.

Privatization of Lottery

jaggudada — Thu, 13 Dec 2012 02:15:21 GMT

I support privatization of lottery. Right now state Govt pays anywhere from 40 to 50% of collected revenue in terms of prizes. I'm assuming 10-15% is overhead (like paying lottery employees, their expenses etc etc) and remaining 30-40% state uses for funding schools and other welfare causes. I think if lottery is privatized, it can be run much more efficiently which means more money will allocated towards prizes than paying inefficiency in lottery administration.