Earlier today Family Council staff member Ken Yang attended a meeting between lottery officials and lawmakers who are on the Lottery Oversight Committee. Below are highlights from the meeting.
- With two months remaining in the lottery’s fiscal year, the lottery is $5.9 million behind in projected revenue. In other words, sales are down.
- 2014 net proceeds (the money that goes for scholarships) are projected at $89.5 million–millions of dollars lower than previous years.
- The lottery has authorized “higher staff compensation” (i.e. “raises”) in its budget for fiscal year 2014.
- MegaMillions, one of two multi-state lotteries Arkansas participates in, is going to be overhauled. In the future players can expect even worse odds than ever before on the top prizes. Too many people are winning, and the company responsible for the game thinks making it harder to win the big jackpot will cause more people to buy tickets.