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Lottery Reflects Poor Economy
Special Report - December 17, 2010
Weak ticket sales this year have put the lottery on track to finish the current year $40 million below projections after 2010’s record-setting year. At their quarterly meeting on December 15, the Lottery Commission approved a revised fiscal year budget through summer 2011 that projects the lottery will generate about $402 million for education for the year. Original projections expected the lottery for generate $441 million for education programs in the state. Lottery officials, including acting executive director Alice Garland, attributed the need for the budget revision to the economy’s impact on people’s disposable income for entertainment and on the lack of a major jackpot in the multistate Powerball game.
In response to the lower forecast, lottery officials are preparing to roll out new games, increase the number of drawings, and expand the network of retailers who sell lottery tickets across the state.
“It has taken longer than the rest of the economy, but the lottery is finally feeling the effects of families having to reprioritize their spending habits,” said Bill Brooks, president of the North Carolina Family Policy Council. “As families tighten their budgets, they will inevitably make the decision that gambling away their scarce dollars on a long-shot chance at luck is not worth it. Rather than coming up with more and new ways to separate North Carolinians from their dollars under the guise of supporting education, North Carolina should do away with its state-sponsored gambling all together.”
Related resources:
Lottery Funding Shifts From Education - September 30, 2010
Lottery Revenues Rise With Unemployment - February 2, 2010
Governor Seizes "Education" Lottery Funds - February 27, 2009
Lottery Revenue Fails to Make Significant Impact - September 25, 2007
Easley Recommends Increasing Lottery Prize Payouts - February 23, 2007
A Lottery Education: Dispelling the Education Lottery Myth - [PDF] - Findings - April 2004
Copyright © 2010. North Carolina Family Policy Council. All rights reserved.
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