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Florida Lottery Reached Record High

Florida Lottery

Figures recently published at the end of the US fiscal year have backed up the fact that the online scratch cards and lottery market in Florida is continuing to thrive. The 25-year-old lottery in Florida has just reach a new record sales level, reaching a figure exceeding $5 billion in the previous financial year, from 30th June 2012 – 30th June 2013.

The sales figures supported state lawmakers as they await the latter part of a recently commissioned study, designed to analyse and show the effects of gambling in casinos, online and in lotteries in the Sunshine State. At present, the country has a very inconsistent stance on gambling policy, with different states having different views on what should and what shouldn’t be legal. Given gambling’s uncertain climate in the US, the study is being carried out in preparation for a major discussion in the legislative session next year.

Sales figures rising have been mainly attributed to the growing demand for scratchcards. This shifting scratchcard demand has been partly to the 34% growth in their Powerball lottery game, the most popular in the country. It is estimate that sales for the Powerball will just fall shy of the $5 billion mark alone next year.
A spokeswoman for the lottery, Meagan Dougherty spoke out on the company’s intentions for achieving growth and that they are trying to introduce bigger and better games. Florida has recently introduced the national Mega Millions game to the state. This move was made in a bid to constantly stay on top of demand in order to bring in new players and keep exiting players interested.

Of all the money that the lottery takes in, just 62% is paid out on winnings. Responsibly, $1.41 billion goes towards the Educational Enhancement Trust Fund each year.
The Lottery began in 1989 after a vote was taken and its initial sales figures reached $1.8 billion. This has increased significantly to $4.45 in 2011-2012. The Powerball game is so popular as a result of the massive jackpot prizes it offers. During the past year, it has paid out $590.5 million to one winner (in May 2013). It has been said that this colossal amount was won by a woman in Zephyrhills, near Tampa Bay. It is usually the thought of winning such life-altering amounts of money which lures people in to play the lotteries in the first place.