BATON ROUGE – For the third quarter of fiscal year 2022, the Louisiana Lottery Corporation transferred more than $47.6 million to the state treasury, bringing total year-to-date contributions to more than $143 million. This represents a decrease of $13.7 million from the first three quarters of fiscal year 2021.

With revenue of $147,870,376 the Lottery’s total third-quarter state transfers were $47,644,637 or 32.2%. Since the Lottery began operations in 1991, it has brought in more than $12.1 billion in revenue and transferred nearly $4.3 billion to the state treasury.

“At a first glance, the decrease in Lottery fiscal year revenue may be surprising,” noted Lottery President Rose Hudson. “We anticipated our sales would reflect the easing of pandemic restrictions and the return of other gaming options. After two years of record sales levels, we are pleased our current sales level are exceeding prepandemic levels. This is thanks in no small part to the budgetary flexibility afforded to us by the legislature, which has allowed us to increase prize payouts. Our players love that and have truly responded.”

Retailers earn 5% sales commission, plus incentives for cashing winning tickets and bonuses for selling big winning tickets. For January through March of 2022, retailer compensation totaled nearly $8.5 million, bringing total fiscal-year-to-date retailer earnings to more than $24.9 million.

Over the last couple of years, the Lottery began adjusting scratch-off game prize structures, increasing prize payouts, adding more higher price-point games and launching new types of games. This strategy has been well received by players, resulting in net gains for the state.

https://bossierpress.com/fiscal-year-lottery-revenue-down-for-third-quarter/