Jim Rosica
Higher Cash 3 and Play 4 sales, as well as increased scratch-off ticket sales, have led to a growth in Florida Lottery revenue, according to the state’s economic forecasters.
Total ticket sales were $79 million over estimate for July-November of this year, the state’s Revenue Estimating Conference reported on Dec. 8.
At the same time, sales of Powerball, Mega Millions, Lotto and Lucky Money have gone down, the report said.
Lottery proceeds benefit the state’s Educational Enhancement Trust Fund, which helps pay for public education.
The updated forecast for money flowing into that fund is “$16.1 to $17.8 million higher each year through Fiscal Year 2020-21,” according to the report.
Here’s more from the conference’s executive summary:
Actual Powerball ticket sales were $6.8 million lower than the estimate for July through November 2015. The Conference decreased the forecast for Fiscal Year 2015-16 by $18.5 million, and maintained current growth rates in the remaining fiscal years of the forecast, which resulted in an $18.7 to $19.8 million decline in Powerball ticket sales each fiscal year.
Mega Millions ticket sales were also under estimate for the fiscal-year-to-date by $5.3 million, leading the Conference to reduce this forecast as well by $12.0 to $12.8 million each fiscal year going forward.
Lotto ticket sales for the first five months of Fiscal Year 2015-16 came in under estimate by $6.6 million. To account for the lower than expected level of activity, the new forecast reduces expected lotto ticket sales by $16.6 to $17.6 million each fiscal year.
Ticket sales for Lucky Money fiscal-year-to-date were $3.4 million under estimate, and the forecast was therefore reduced by $7.7 to $8.3 million each fiscal year going forward.
