Tennessee Lottery raking in record profits
As annual sales approach $1.2 billion, players probably will see even more games
Despite the recession, one Tennessee financial institution is having a banner year.
The Tennessee Education Lottery is raking in record profits selling nearly $1.2 billion in scratch-off tickets, nightly drawings, and multi-state mega-jackpot games in its latest fiscal year.
While 17 other states' lotteries also hit all-time highs, the 7-year-old Tennessee lottery is growing faster than most, outpacing nati ...
Oct 9, 2011, 2:58 pm - Lottery News forum
Tenn. lawmakers float ideas to improve lottery revenues
Tennessee state Senate minority leader is calling on fellow lawmakers to find ways to increase lottery revenues instead of cutting back on the scholarship program, while Gov. Bill Haslam has assigned his staff to consider a broad range of options for stabilizing the game's finances.
Jim Kyle, D-Memphis, said in a letter released Wednesday that while the Tennessee Higher Education Commission estimates that the lottery will deplete its sizable reserves by 2024, it also says annual losses could ...
Sep 29, 2011, 9:36 am - Lottery News forum
Lost lottery ticket worth $50,000 returned to winner
John Holder must have felt like he couldn't win for losing.
The 45-year-old Columbia resident worked as a roofer until a back injury forced him to live on disability benefits. He's resided at an assisted living facility since December.
Then on Sept. 2 Holder's luck seemed to change. That's when he bought a winning scratch-off ticket worth $50,000 from a local convenience store. That same day, the ticket went missing.
He purchased the $2 Jumbo Bucks instant ticket at the Gulf station at ...
Sep 23, 2011, 7:28 pm - Lottery News forum
Tennessee's biggest Powerball winner keeps low profile
Bobbi Hubbard of South Pittsburg, Tenn., keeps busy working on community projects like trying to start a free medical clinic in Marion County. She has lived in the same house for 18 years.
On the outside, there's little to show that she hit a $25.5 million Powerball jackpot in 2005, making her the state's all-time big winner as Powerball marks its seventh anniversary in Tennessee. And, unlike some cases in other states where big lottery winners didn't handle their fast fortunes well, Hubbard ...
Apr 6, 2011, 7:08 am - Lottery News forum
Tenn. Lottery scholarships underfunded
The Tennessee Lottery games aren't generating enough money to pay for all of the Hope Scholarships. Now, lawmakers are putting options together that could make it tougher for students to get a scholarship in the future.
More students than ever are eligible to receive the annual $4,000 Hope Scholarship. A special task force has been analyzing the problem for the last year. Lawmakers say they don't want to impact any current scholarships and break promises to students.
That's part of their ...
Jan 19, 2011, 7:44 am - Lottery News forum
New Tennessee lottery game debuts tonight
The latest game from the Tennessee Lottery begins tonight, with the first drawing of Tennessee Cash.
In the game, players select any five numbers from a field of 1 to 35, and one Cash Ball number from a field of 1 to 5. Players can also choose a Quick Pick, which has the computer assign random numbers to the ticket.
Players win if they match any of 8 winning combinations.
Tennessee Cash replaces the retired Pick 5 game, which saw its last drawing on Oct. 1.
Tickets cost $1 per play.
Oct 4, 2010, 9:31 am - Lottery News forum
TN lottery scholarships safe from cuts
UT study shows shortfall is less than previously projected
The dollar shortfall between Tennessee lottery revenue and the scholarship programs it funds is much less than previously projected, a study shows, indicating that lottery scholarships won't have to be cut or made harder to get.
The Commercial Appeal of Memphis reported that the study by the University of Tennessee Center for Business and Economic Research was presented this week at the Lottery Scholarship Stabilization Task Force' ...
Aug 19, 2010, 10:19 am - Lottery News forum
Tenn. Lottery uses other states' lotto numbers, headquarters flooded
The Tennessee Lottery closed its Nashville headquarters office Monday, due to flooding conditions.
According to the lottery's Disaster Recover Plan, when the lottery is unable to draw its own numbers, it will substitute other states' winning numbers as its own.
For Monday, May 3, the Lottery used the numbers drawn by other lotteries on the following schedule:
Midday drawings for Cash 3 and Cash 4 used the numbers drawn for those same games by the Kentucky Lottery. Evening drawings for ...
May 4, 2010, 8:00 am - Lottery News forum
Senator says Tenn. lottery scholarship fund in trouble
Tennessee Senate Minority Leader Jim Kyle, D-Memphis, is urging lawmakers to deal with the state's insolvent lottery-funded college scholarship fund.
Sen. Kyle's comment came after a Senate panel refused to adopt his plan to plug a $13 million program shortfall.
This is the first step to reducing scholarships and denying accessibility for thousands of Tennessee students who depend on the lottery scholarship as their sole opportunity to attend college, Sen. Kyle said in a news release Thur ...
Apr 9, 2010, 9:18 am - Lottery News forum
New games send lottery sales soaring
Tennessee lottery officials say sales are surging because of two new games: Mega Millions and Millionaire Jumbo Bucks.
Ticket sales last week were the third highest, $30.8 million, since the lottery began more than six years ago.
Mega Millions is the state's second mega-jackpot game. Millionaire Jumbo Bucks is an instant-ticket game with top prizes of $1 million.
After five days of sales, Millionaire Jumbo Bucks players had won more than $3.5 million in prizes.
Last week's sales were ...
Feb 12, 2010, 8:19 am - Lottery News forum