Tennessee Lottery Tops $1 Billion In Sales Over The Past Year

State lotteries are a legalized form of gambling that individual states are taking full advantage of. The Tennessee Lottery is counting their lottery money all the way to the bank these days.

The state lottery corporation has recently announced that their state lottery sales have eclipsed $1 billion over the past year. That is a staggering figure when considering the economic hardships that have fallen on the nation.

The Tennessee Lottery has only been around for four years, but the early returns are proving why legalized forms of gambling could bring in record amounts of revenue. In the four years since it began, the lottery has brought in $4.39 billion in gross ticket sales.

Of course, that numbers do not count the amount of money that has been paid out by the lottery. Still, the numbers are extraordinary for something that still has not been perfected. Around $286 million of last year's money will go to the education system in the state.

Even with costs, the lottery has given $1,2 billion in lottery sales revenue to the state's education system. That is in comparison to the $2.5 billion that has been paid out in prize money.

In other states, lottery sales have been down thanks to the current state of the economy. Many states are resorting to aggressive marketing campaigns to try and boost ticket sales.

July 19, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
Submit News!