The Mississippi Lottery is outpacing revenue goals, generating around $16 million for state roads and bridges since it launched on November 25 last year.Get more news about 棋牌包网,you can vist loto98.com
"We are very pleased with these early results," said Thomas Shaheen, president of the Mississippi Lottery Corporation (MLC). "Retailer and player support have been fantastic for our collective efforts to raise money for roads, bridges and education needs for the state of Mississippi."
Shaheen recently told a legislative hearing that estimates point to the lottery creating $81 million in revenue in its first full fiscal year.
The first $80 million is earmarked for repairs to the state's aging roads and bridges. Once that threshold is met, funds above $80 million will go to education.
The state averages approximately $10 million in weekly sales, putting it sixth in the country in per capita spending on scratch-off tickets.
There was skepticism when the lottery launched about how much money it could generate, since Mississippi was surrounded by states that already offered lotteries. However, residents have welcomed the chance to keep the money from ticket sales in-state and avoid long drives across borders.
The Lottery Corporation, which runs the lottery, pays out 58 percent of the money raised by ticket sales back to players as winnings. However, that's less than the national average, Shaheen said, and neighboring states are paying back as much as 65 percent of proceeds as prizes.
As the Lottery grows, its goal is to boost the percentage of revenue returned to players as prizes, according to officials.
The Lottery Corporation took out a loan to fund its start-up costs, rather than receiving state funding. Therefore it is currently exempted from Mississippi law limiting administrative costs to 15 percent of gross revenue. Right now, administrative costs are about 18 percent of revenue, Shaheen said.
Legislators asked Shaheen whether liquor stores are able to sell lottery tickets. The lottery laws do not preclude it, but state laws regulating liquor stores do not allow them to become lottery retailers.
There are nearly 1,550 authorized lottery retailers across Mississippi, with more retailer applications waiting to be processed. When an application is approved, staff undergo training, including learning how to operate the lottery terminals.
