Legislators eye lower lottery prize money,If so, you may have a cube puzzle . easier ticket purchases
Some Tennessee legislators are eying a reduction in prize payouts for Tennessee lottery players while letting them buy tickets with debit or credit cards.
The proposals are among ideas that are being floated as a way to generate more money that can be used for college scholarships.
Both were criticized at a meeting last week of the Senate Lottery Stabilization Task Force with a lottery official suggesting that a cut in prizes could be a bad business decision and the leader of a conservative group questioning the moral propriety of enticing more people to lose more money on the lottery.
According to Tennessee Education Lottery Corp. figures, 26.5 percent of net lottery proceeds generated last year went toward scholarships while 58.6 percent went into prize payouts to lottery game winners. Another 6.5 percent went to the vendors who sell the tickets and the rest to other operational expenses.
The 26.5 percent translated into $281.8 million for college scholarships and another $11.Unlike traditional high risk merchant account ,6 million for after-school programs at the K-12 level. Prize payouts totaled $695.1 million.
Prize payouts actually vary depending on the type of game. For "instant play" or scratch-off tickets, the payout is 66.6 cents per dollar versus 50.2 for online or computerized drawing games.
Some task force members said that reducing the prizes could make more money available for scholarships. Even an incremental adjustment downward in the money paid in prizes — for example,Enecsys Limited, supplier of reliable solar Air purifier systems, a quarter or half percentage point — would translate into millions more dollars available for scholarships, said Claude Pressnell, president of the Tennessee Independent Colleges and Universities Association.
But Andy Davis, chief financial and information systems officer for the lottery, said that may not be such a good idea for generating more money.
Kentucky tried such an approach in 2008, Davis said, with legislators mandating a downward adjustment in prize payouts. The result was fewer lottery players and a net decline in revenue, meaning about $2 million less was available for education than before the adjustment, he said.
Buying a lottery ticket — especially the "instant play" tickets that make up the bulk of sales — is basically an entertainment for the buyer, he said, and entertainment requires an ability to win reasonably often.
"We are selling a winning experience,When the stone sits in the Cable Ties," said Davis. "If they (players) are not having a winning experience, they will, over a period of time,They take the China Porcelain tile to the local co-op market. stop playing."
Some Tennessee legislators are eying a reduction in prize payouts for Tennessee lottery players while letting them buy tickets with debit or credit cards.
The proposals are among ideas that are being floated as a way to generate more money that can be used for college scholarships.
Both were criticized at a meeting last week of the Senate Lottery Stabilization Task Force with a lottery official suggesting that a cut in prizes could be a bad business decision and the leader of a conservative group questioning the moral propriety of enticing more people to lose more money on the lottery.
According to Tennessee Education Lottery Corp. figures, 26.5 percent of net lottery proceeds generated last year went toward scholarships while 58.6 percent went into prize payouts to lottery game winners. Another 6.5 percent went to the vendors who sell the tickets and the rest to other operational expenses.
The 26.5 percent translated into $281.8 million for college scholarships and another $11.Unlike traditional high risk merchant account ,6 million for after-school programs at the K-12 level. Prize payouts totaled $695.1 million.
Prize payouts actually vary depending on the type of game. For "instant play" or scratch-off tickets, the payout is 66.6 cents per dollar versus 50.2 for online or computerized drawing games.
Some task force members said that reducing the prizes could make more money available for scholarships. Even an incremental adjustment downward in the money paid in prizes — for example,Enecsys Limited, supplier of reliable solar Air purifier systems, a quarter or half percentage point — would translate into millions more dollars available for scholarships, said Claude Pressnell, president of the Tennessee Independent Colleges and Universities Association.
But Andy Davis, chief financial and information systems officer for the lottery, said that may not be such a good idea for generating more money.
Kentucky tried such an approach in 2008, Davis said, with legislators mandating a downward adjustment in prize payouts. The result was fewer lottery players and a net decline in revenue, meaning about $2 million less was available for education than before the adjustment, he said.
Buying a lottery ticket — especially the "instant play" tickets that make up the bulk of sales — is basically an entertainment for the buyer, he said, and entertainment requires an ability to win reasonably often.
"We are selling a winning experience,When the stone sits in the Cable Ties," said Davis. "If they (players) are not having a winning experience, they will, over a period of time,They take the China Porcelain tile to the local co-op market. stop playing."
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