Powerball, Mega Millions Give State Budgets A Lift

February 23, 2014 4:32 PM
Powerball, Mega Millions Give State Budgets A Lift
" IOWA CITY, Iowa (AP) — The scores of losing players in this week’s $425 million Powerball jackpot did more than take an extremely long shot at getting rich. Their ticket purchases also helped fund a small but increasingly important part of their states’ budgets.

Changes in the nationwide Powerball and Mega Millions games have led to some of the world’s largest jackpots in the last two years, boosting player interest and sales. Fueled by the growth of those games and the steady expansion of other offerings, many state lotteries last year reported record revenues and transfers to the state budgets and programs they helped fund.

For every $2 ticket, 50 cents or more might end up paying for police officers in Massachusetts, services for the elderly in Pennsylvania, or education in rural school districts in Idaho, lottery directors say. In all, about $20 billion out of the roughly $70 billion in overall annual lottery revenues is used by states after prize money, retailer commissions, advertising and administrative expenses are taken out. Most states target their lottery revenue to specific causes, with education being the most popular "

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