Jan 11, 2016 6:08 PM
With $1.3 billion Powerball jackpot, NH pouring money into lottery - but where does it go?
With a record Powerball jackpot up to over a billion dollars, it’s a good time to review where all that money goes.
In 1964, New Hampshire became the first state to start a legal lottery - and from the beginning it was sold as a way to support local schools - and also relieve high property taxes.
Huge payouts get all the attention, but they aren’t the big money producers for the lottery.
Scratch tickets make the most - by far. Three-fourths of all revenue come from the scratchers, with Powerball a distant second.
Prizes gobble up the most money if you play instant tickets at nearly 75 percent.
Draw games like Powerball give no more than 60-percent to prizes.
But what about education?
Here’s a look: 48 percent at the start, 35 percent by 1991, and last year down to 26 percent.
The total take from the beginning: $5 billion bet with prizes getting $3.2 billion and schools getting $1.7 billion.
In the past year, Powerball revenue dropped 18 percent while instant ticket profits went up by 7 percent.
It’s all about the jackpots.
Gamblers will not play Powerball in big numbers until there is a large pot of money.
In 2014 there was much more profit from the game because there were three jackpots worth roughly $400 million apiece.
Don't forget you can watch the lottery drawing on WBIN-TV right after the 10 p.m. news on Wednesday.