Powerball Packing Punch in Florida Lottery Sales
Around the State
Floridians are playing the state’s lottery games at a record clip and there is no indication that in these economically uncertain times they will ease off on lightening their wallets.
Florida's Lottery Estimating Conference, which on Tuesday increased the already record-setting sales totals for the recently completed fiscal year, projects the numbers to continue to grow for at least the next four years.
Sales totals were adjusted from $4.274 billion to $4.463 billion as additional receipts roll in, while forecasts were set at $4.76 billion for the current year that runs through June 30, 2013, $4.76 billion in 2013-2014, $4.82 billion in 2014-2015, and $4.88 billion in 2015-2016.
With the multistate Powerball expected to continue growing in popularity in Florida, the only aspect of the games forecast to see a dip is the Mega Money jackpot drawing game.
The game did have a 3.2 percent growth rate last year and is projected to increase 2.2 percent this year, before slowing to a negative 0.8 percent growth rate in coming years.
Other games based on random drawings, Lotto with Xtra, Fantasy 5, Cash 3 and Play 4, have minimal growth projections.
Lotto’s growth is expected to drop 0.7 percent this year before hovering at the 1.5 percent mark the following three years. Interest in Play 4 will sustain its growth at 1.8 percent for three of the next four years. Both Cash 3 and Fantasy 5 growth will fall to 0.1 percent at the end of the four-year forecast.
The multistate Powerball is forecast to have a 12 percent growth this year in Florida.
According to state records, scratch-off tickets, which grew 15.3 percent in the past year, will have a 5.3 percent growth this year.
The state became the first in the nation to have Wal-Mart sell its tickets last fall.
With the increase in sales for the current year, the Florida lottery will send $1.35 billion toward the state’s Education Enhancement Trust Fund -- $48 million more than what was projected earlier this month.
Reach Jim Turner at firstname.lastname@example.org or at (772) 215-9889.