News From Terre Haute, Indiana

Local & Bistate

June 6, 2014

Jackpot growth slowing down for Hoosier Lotto

INDIANAPOLIS (AP) — State lottery officials are blaming a big drop in ticket sales for a decision to slash the rate at which Hoosier Lotto jackpots grow.

The Hoosier Lotto prizes start at $1 million for the first two drawings after someone wins and have previously gone up by $500,000 for each subsequent drawing. Under the change made last month, the jackpot increases by $200,000 for Wednesday drawings and $300,000 for Saturday drawings.

Hoosier Lottery officials decided to make the change after reviewing the game’s financial performance in recent years, agency spokeswoman Stephanie McFarland told The Indianapolis Star.

“We know Hoosiers expect the lottery to operate in a fiscally responsible manner, and our core mission is to maximize revenue for the state of Indiana,” she said.

Ticket sales for the game, which require a player to match a six-digit number to win the jackpot, have gone down nearly 25 percent since the state’s 2012 fiscal year.

Revenue reached $61.2 million that year, then fell to $46.5 million in 2013. Revenues haven’t rebounded much this year, standing at $46.3 million for the 2014 fiscal year that ends June 30.

The jackpot change took effect May 11. The Hoosier Lottery announced the change in a news release, but didn’t mention a reduction in the jackpot, instead characterizing it as a “makeover” that adjusted “the mechanism by which jackpots grow.”

Ed Feigenbaum, publisher of the Indiana Gaming Insight newsletter, said it’s difficult to say what’s reducing Hoosier Lotto ticket revenue. Sales of jackpot games can be affected by promotions, the startup of competitive games, large jackpots in multi-state games, or even the weather, he said.

The state last year hired Rhode Island-based GTECH Corp. as the new operator for the Hoosier Lottery. The company has committed to increasing lottery revenues by $500 million over the next five years.

McCordsville resident Jim Hughes said he’s played the Hoosier Lotto since its start and is disappointed with the smaller jackpot additions after the first week.

Hughes said he’s never won more than $100 playing Hoosier Lotto, but he likes it more than the larger multi-state games such as Powerball because the odds of winning are more favorable.

“It’s unfortunate for the consumer they lowered the jackpot,” he said. “I think it will hurt their sales. It’s going to make me play less often.”

 

1
Text Only | Photo Reprints
Local & Bistate
Latest News
TribStar.com Poll
AP Video
Raw: Thousands Flocking to German Crop Circle Texas Scientists Study Ebola Virus Small Plane Crash in San Diego Parking Lot Dangerous Bacteria Kills One in Florida Fighting Blocks Access to Ukraine Crash Site Smartphone Powered Paper Plane Debuts at Airshow Raw: Otters Enjoy Water Slides at Japan Zoo Raw: Deadly Landslide Hits Indian Village 3 People Killed, Deputies Wounded in NC Shootout Visitors Feel Part of the Pack at Wolf Preserve Workers Dig for Survivors After India Landslide Raw: 16 Killed in Gaza Market Strike Florida Panther Rebound Upsets Ranchers Southern Accent Reduction Class Cancelled in TN Raw: Smoke, Explosions Fill Gaza Skyline Two Women Narrowly Avoid Being Hit by Train 3Doodler Bring 3-D Printing to Your Hand Today in History for July 31st Russia Counts Cost of New US, EU Sanctions Six PA Cops Indicted for Robbing Drug Dealers
NDN Video
Famous Internet Cats Help Big Cause With Viral Video Snoop Dogg Narrating Animal Footage Is Perfect Tigers Acquire David Price - @TheBuzzeronFOX Russell Brand Slams Sean Hannity Over Gaza Conflict Segment Chapter Two: Composing for a film in retirement Woman's Dive Goes Terribly Wrong Brian Williams Reports on Daughter Allison Williams' 'Peter Pan' Casting News Did Jimmy Fallon Look Up Heidi Klum's Dress? What Drama? Miranda Kerr Poses Topless Plane crashes in San Diego Costco parking lot Justin Bieber Takes To Instagram To Diss Orlando Bloom You Won't Believe the Celeb Cameos in "Sharknado 2" Pitch Invading Morons Cause Chaos - @TheBuzzeronFOX Orlando Bloom 'Takes a Swing' at Justin Bieber In Ibiza Sadie Doesn't Want Her Brother to Grow Up "Maxim" Hotness! See Jessica Alba's Sizzling Spread Two women barely avoid being hit by train Broken Water Main Floods UCLA Orlando Bloom and Justin Bieber Reportedly Came To Blows In Ibiza Meet the Man Behind Dumb Starbucks
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
  • -

     

    March 12, 2010

activity