Hoosier Lottery Hits Record State Contribution
(photo courtesy Hoosier Lottery)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowThe Hoosier Lottery has set a new record for the amount of money transferred to the state. Lottery officials say the state received $306 million for the last fiscal year, which comes from record lottery sales of $1.27 billion.
Sarah Taylor, executive director of the Hoosier Lottery, says draw game sales were driven by six large jackpots over the last year that ranged from $390 million to $759 million. The lottery also saw strong scratch-off ticket sales that added to the record income.
The money from the Hoosier Lottery is distributed to various state funds each year. The State Teachers Retirement Fund and the local police and firefighters’ pension fund each receive $30 million, with the balance going to the Build Indiana Fund, which is currently used to reduce auto excise taxes by up to 50 percent. Some of the fund is also used to cover library and school technology projects.
State Lottery Commission Chairman Bill Zielke says the agreement with IGT Indiana, which provides product development, marketing, sales and distribution services for the lottery, has been fruitful for the state. Since Fiscal Year 2012, lottery contributions to the state have gone from $205 million to $306 million.