Iowa Lottery reports record-setting ticket sales

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According to Iowa Lottery, this year has been instrumental for record-setting ticket sales. It has helped them finish the FY 2017 well ahead of budget projections.

However, in spite of record-setting ticket sales, the Powerball ticket sales were down from the last year’s sales. This year’s world record jackpot was nearly $1.6 billion. As a result, this year’s sales were four percent lower than the previous years. Also, the prizes paid to players were down about eight percent.

The Iowa Lottery CEO, Terry Rich says, “The ‘chance factor’ was highlighted this year in terms of jackpots in our lotto games.” The lottery is in a healthy position, and we continue to deliver more than what we had forecast for the state cause. However, Rich also added, “There simply won’t be a world-record jackpot every year.” The preliminary results show that Iowa Lottery has managed to generate $81 million in proceeds in the fiscal year 2017. The fiscal year 2017 ended on June 30. This also marks the fourth time proceeds topped the 480 million mark in the long 32-years history of Iowa Lottery.

Above all, annual Lottery sales were $352.2 million, and prizes to players totaled $215.6 million. And, the lottery sales commissions to retailers totaled nearly $23 million.