The Minnesota Lottery has announced that for the third year in a row it has achieved record sales for the fiscal year.
In total $668.6 million has been calculated in lottery sales for the 2020 fiscal year with $156 million returning to the state, which is yet another record number. The record numbers will be a welcome boost to the state given the global health pandemic causing financial difficulties across a variety of sectors.
“All Minnesotans benefit from Lottery proceeds,” stated Lottery Executive Director, Adam Prock. “From state services that protect and support Minnesotans to environmental projects that protect our environment and give more Minnesotans the opportunity to connect with nature, Lottery proceeds help make Minnesota an even better place to live.”
According to the Minnesota Lottery’s latest release, the organisation, which was established in 1988, has generated around $3.3 billion in its history that has then gone on to be invested in programs to benefit the state.
Due to the lottery funding, in total an estimated $1.4 billion has gone into the Environment and Natural Resources Trust Fund, Game and Fish Fund and the Natural Resources Fund in order to protect the environment. Moreover, $1.9 billion has helped develop a variety of state programs through the General Fund, enhancing Minnesota’s public safety, education, and health and human services.
Other figures that were highlighted in the Minnesota Lottery’s fiscal year report included record numbers for prizes paid to players, which totalled $423.6 million, whilst retailer commissions and incentives also reached its highest amount ever, recording at $44.8 million.
The news follows on from the unexpected success of the Oregon Lottery this year with economists predicting that lottery and tax revenues for the states 2-year budget are expected to rise by an estimated $2 billion from its previous calculations.