The New York state lottery has announced a surge in its ticket sales for the fiscal year 2011-2012. According to their pre-audited figures, the state lottery raked in a total of 8.4 billion dollars in lottery sales. This is a $571.3 million surge in sales compared to the 2010-2011 fiscal year. The figures mean that about $2.9 billion will be directed to the state’s education programs.
The surge in the profits is mainly due to the strategic plans implemented in the Powerball lottery game. The plans saw the ticket prices for the lottery go up by an extra dollar. This enabled the lottery to have a large starting up jackpot prize and huge rollovers. This was a major incentive for the New York lottery players to participate more in the lottery.
Apart from the Powerball lottery, the year saw the Mega Millions lottery jackpot reach a historical high of $656 Million dollars. This gave a boost to the ticket sales in the state that saw the ticket sales surge by more than $67.4 Million in the weeks leading to the historic draw. In summary, the Powerball lottery contributed $296.6 million in sales while the Mega Millions generated $95.5.
Apart from the other traditional lottery games, the state’s video gaming platform raked in $253.3 million for the state. The record revenue figure makes the lottery the largest and most successful state lottery in the US. New York residents received 96% of the lottery revenues in terms of prizes and grants for the education programs.