Powerball sales drop busts NJ Lottery’s 7-year winning streak
Lottery sales in New Jersey fell for the primary in seven years in 2017 led by way of a pointy by way of decline in earnings from Powerball tickets, although scratch-off video games stay the state’s greatest cash maker, in line with the New Jersey Lottery’s annual record.
The lottery offered $three.186 billion in tickets for all video games — about $103 million not up to in fiscal 12 months 2016. The lottery nonetheless contributed $994 million to training and social techniques remaining 12 months, up from $987 million the former 12 months.
Sales of Pick three, Pick four, Powerball, Mega Millions, and Cash4Life all fell. Only immediate scratch-off video games and Jersey Cash five tickets introduced in additional earnings in 2017 than 2016.
Powerball sales dropped to about $213.five million — a lower of about $72.five million from the former 12 months.
Scratch-off tickets are nonetheless by way of some distance the most important sales driving force for the New Jersey lottery.
Customers purchased $1.nine billion within the immediate tickets remaining 12 months — accounting for roughly 59 p.c of the lottery’s earnings. That was once about $15 million extra in scratch-off sales than the former 12 months.
The non-public operator of the lottery, Northstar New Jersey, was once awarded $1 million much less in charges and bills than it earned in 2016. Its bonus totaled $29 million, a drop from the $30.6 million it were given the 12 months sooner than.
Beginning this fiscal 12 months, a brand new regulation signed by way of former Gov. Chris Christie redirects lottery earnings to the general public worker pension fund to lend a hand remedy its primary monetary shortcomings.