2017-06-19 15:48:18.607

Annual and Monthly Lottery Profits Second Highest Ever

On June 16, the Missouri Lottery made its final monthly transfer for fiscal year 2017 worth $30.7 million, the second-largest monthly transfer in the Lottery’s history. It brings the transfer year total to $297.8 million and exceeds the Lottery’s strategic goal by more than $11.4 million.

“Our strategic goal was to reach $286.4 million, and we surpassed that by 4 percent,” said May Scheve Reardon, executive director of the Missouri Lottery. “We’re very pleased. This is the second-highest annual profits to public education ever.

“The monthly transfer was the second-highest ever, too, due to a large unclaimed Lotto prize, and strong Powerball and Scratchers sales in May,” Reardon said.

A $3.5 million Lotto prize sold in Hermann for the Nov. 12, 2016, drawing, expired on May 11. That prize amount was part of the May transfer to the Lottery Proceeds Fund for public education. It was the largest unclaimed prize and the third worth more than $1 million to go unclaimed in the Lottery’s 31-year history.

Reardon said prior to each fiscal year, the Lottery averages the most recent five years’ profits for a “benchmark” and increases it by 1 percent to arrive at a reasonable goal. She noted that while last year’s annual proceeds came in higher – $308.9 million – it was due to profits from the record high $1.5 billion Powerball jackpot in January 2016.

“The last fiscal year was an anomaly,” Reardon said. “A jackpot higher than $1 billion is only expected to happen once every decade. This year, we are $9.1 million higher than our prior second-best year – without any record jackpots or unusual circumstances.”

Reardon said strong Lottery sales in transfer year 2017 came from a full year of sales of the $30 “$300,000,000 Golden Ticket” Scratchers game, increased Scratchers tickets displayed from 24 to 28 in new Gemini Touch machines, and record Pick 3 and Pick 4 sales.

“Our average price per Scratchers ticket sold this past year was $3.93,” said Reardon. “Scratchers sales have hit an all-time high – up more than 3.9 percent so far this fiscal year compared with last year.

“We also have to attribute some of the increase to our network of more than 4,700 dedicated retailers. They work hard to help us maximize money for public education programs.”

One hundred percent of the proceeds from Missouri Lottery ticket sales go to public education. In fiscal year 2017, these proceeds were appropriated for a variety of programs including:  the Foundation Program, the A+ Scholarships Program, Special Education Excess Costs, the Classroom Trust Fund, and 10-11 percent of the state’s funding for several public higher education institutions’ operating costs. For a complete list of programs, including information about Lottery dollars directed to your county, visit the Lottery’s website at MOLottery.com.

Each year, the proceeds are allocated by the governor and the state’s legislature during the annual appropriation process. These funds represent approximately 4 percent of the annual funding required for Missouri’s public education system.

For each dollar spent on the Lottery, more than 95 cents goes back to the citizens of the state in one form or another. Approximately 66.6 cents is returned to players as prizes, 23 cents goes to the state’s public education programs, 5.9 cents pays for retailers’ commissions, incentives and bonuses, and 4.5 cents is used for administrative costs.

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