Wisconsin Lottery sales increase by 8.9% for fiscal year 2012
The Legislative Audit Bureau released the Wisconsin Lottery fiscal year review, revealing a sales increase of 8.9% over the previous year.
Te Wisconsin Lottery is celebrating its 25th, after beginning with the first lottery sales in 1988. Since then, the wisconsin Lottery has been providing funds for the Wisconsin Property Tax credits. These efforts have helped provide property tax relief for residents of Wisconsin for 25 years. Since its inception, the Wisconsin Lottery has given more than $3 billion for property tax relief.
A report highlighting the fiscal years from 2007-2012 shows a total sales increase of 11% over the past 5 years. The increase in sales, according to the audit, can be attributed to the recent changes in Powerball which have sparked record jackpots. Mega Millions was also recently added to the Wisconsin Lottery, giving lottery players the chance to go for the high jackpots offered by the multi-state game. In addition to these popular draw games, the Wisconsin Lottery has added higher priced instant games, attracting crowds anxious to win more in prizes.
Despite this increase, the same audit suggests canceling themed games and promotions. The report showed that in the 2009-10 fiscal year alone more than $700,000 was spent on licensing for themed games. Themed games from the Wisconsin Lottery currently are showing lower than expected sales and generate less revenue than non-themed games.
The fiscal year 2007-08 saw total sales of $494.7 million, while the 2011-12 year saw sales of $547.6 million. In the 2011-12 fiscal year, the Wisconsin Lottery transferred 58.5% of its $391.2 million profits to help property taxes in the state. This totaled $228.8 million to help with property tax relief.
This exceedingly rapid growth has given the Wisconsin Lottery reasons to celebrate its 25th year of operations. They are looking into the Audit bureau’s request to discontinue themed games. They Wisconsin Lottery hopes to provide fun and property tax relief for the whole state, and hopes to see an even larger sales increase for the 2012-13 fiscal year.