Tennessee Lottery shortfall requires reserves
$10 million needed to fully fund scholarship grants for students
Are computerized drawings hurting sales? Will the Tennessee Lottery bring back real ball drawings? Why is Powerball always blamed for poor financial showing in Tennessee?
The state of Tennessee probably will have to pull about $10 million from reserves to keep lottery scholarships fully funded this year, budget officials said after reporting a revenue shortfall last week.
State Budget Director Bill Bradley said the state w ...
May 4, 2009, 6:35 pm - Lottery News forum
Bill limiting lottery prizes of people on public aid fails
See previous story at www.lotterypost.com/news/191985.
A proposal that would limit Tennessee lottery winners on state or federal assistance to $600 failed in the House State Government Subcommittee.
The measure sponsored by Rep. Stacey Campfield, a Knoxville Republican, failed Wednesday for lack of a second.
Campfield says people receiving assistance should not be spending money on lottery tickets, but rather on education or to put food in their children's mouths.
The proposal would ...
Apr 28, 2009, 10:57 pm - Lottery News forum
Tennessee may cap lottery winnings at $600 for poor
The Tennessee Legislature is considering a bill that could end up making life more difficult for the poor or could help them, depending on your point of view.
The bill at the center of the issue is scheduled to be discussed at a committee hearing Wednesday. It would prohibit anyone receiving state or federal assistance, sometimes called welfare, from winning $600 or more in the state lottery.
The bill's sponsor, Rep. Stacey Campfield (Knoxville), said that if someone can't afford the basic ...
Apr 7, 2009, 11:31 pm - Lottery News forum
N.C. lottery revenues redirected away from education
Lottery opponents warned it would happen; they were right
State lawmakers voiced concern today over a transfer of proceeds from lottery-ticket sales from school construction to the state's general fund.
Gov. Bev Perdue's office also clarified details of the transfer today, a day after school systems learned they would lose this quarter's state funding for school construction.
Perdue's office said today that the funding being withheld, $37 million from lottery profits and $5 million from ...
Feb 27, 2009, 9:36 am - Lottery News forum
Illinois Senate president hopes to expand lottery
Internet sales being contemplated
Hoping to squeeze more money out of the state lottery, Illinois Senate President John Cullerton wants to sell tickets online and hire a private company to manage and market the games.
Cullerton thinks new technology and fresh ideas could help Illinois facing what could be a $9 billion hole in next year's budget dramatically boost lottery revenues.
I would venture to say you could potentially even double it, the Chicago Democrat said in a recent intervi ...
Feb 16, 2009, 9:38 pm - Lottery News forum
Kentucky blocked from seizing gambling domain names
Kentucky may not seize 141 online casinos' Internet domain names in an attempt to block them from operating within the state's borders, a three-judge appeals panel ruled.
In a 2-1 opinion Tuesday, the Kentucky Court of Appeals panel said an Internet domain name is not a gambling device. That left the Franklin County Circuit Court without jurisdiction in the matter.
It stretches credulity to conclude that a series of numbers, or Internet address, can be said to constitute a 'machine or any ...
Jan 21, 2009, 4:47 pm - Lottery News forum
Arkansas lottery bill is first legislation filed for 2009
The first bill filed in the 2009 legislative session Monday carried symbolic weight and political heft but was scanty on substance.
Incoming House Speaker Robbie Wills' one-page bill is a shell for what will become a bill to create and regulate state lotteries. It noted that voters approved the constitutional amendment this month and the revenue would be dedicated for college scholarships.
This is appropriate that this be the first bill filed, said Wills, a Conway Democrat. It's an histor ...
Nov 18, 2008, 4:35 pm - Lottery News forum
Lawmakers steamed about lottery promotion
The Maine Lottery is getting strong, bipartisan criticism for its Funds For Fuel promotion as lawmakers say the lottery should not be using Mainers' fear of high fuel prices this winter to sell more lottery tickets.
I think it is misleading, Sen. Debra Plowman, R-Hampden, a member of the Legislature's Legal and Veterans Affairs Committee that has oversight of the lottery, said this week. It almost sounds like some of the money will go to fuel assistance. It doesn't. It is just another way to ...
Nov 14, 2008, 7:39 am - Lottery News forum
Weak bond market lowers lottery annuity jackpots
Situation serves as reminder of how jackpots are calculated
The nation's financial crisis is causing a dip in one of the optional jackpots offered in Wisconsin's Megabucks lottery game.
The lottery said Tuesday that the annuity option which has a jackpot paid in installments over 29 years will decline for the first time because of a weak bond market.
State lotteries fund their annuity options by using ticket revenue to buy conservative, government-backed bonds.
For the Wisconsin lott ...
Oct 29, 2008, 9:06 am - Lottery News forum
DOJ says privatizing state lotteries illegal
Indiana drops privatization plans after DOJ issues opinion
Indiana Governor Mitch Daniels said Friday that he is dropping the idea of privatizing the Hoosier Lottery as an option of funding a college scholarship program after the U.S. Department of Justice said such a move would not comply with federal law.
The Oct. 16 opinion, which Daniels' office said was requested by Indiana and New Jersey, says states would not comply with federal law if they enter into long-term private management ag ...
Oct 28, 2008, 8:25 am - Lottery News forum