Dutch state-owned Staatsloterij is the oldest running lottery
The Dutch state-owned Staatsloterij is one of the oldest continuous lotteries in the world. The lottery is drawn on the tenth of every month between 6 pm and 9 pm CET, and the jackpot has been as high as EUR 37 million in recent draws. The lottery is a popular form of entertainment in the Netherlands, as well as a major source of taxation.
While many governments have banned lotteries altogether, others endorse them and regulate them. The Dutch state-owned Staatsloterij is one of the oldest running lotteries, paying out prize money to 4.3 million players every month. Its origins can be traced back to 1445, when it was originally used to raise money for fortifications in the Low Countries. Originally, the Dutch lottery was a taxation tool, but soon became popular amongst its citizens.
The Netherlands has the longest-running lottery in the world. The first lotteries were prohibited in England from 1699 to 1709. Today, the New York Lottery pays out lump sums instead of annual payments.
New Hampshire lottery spending has boomed
Since New Hampshire became the first state to establish a state-run lottery, ticket sales have skyrocketed. Even people who don’t gamble may have bought a Powerball ticket in the record Powerball drawing of January 2016. The New Hampshire lottery also generates a great deal of revenue for local and state governments.
In FY 2021, the lottery’s net gaming revenue grew by 123% year over year. It also experienced an 18% jump in retail instant sales. In FY19, the lottery introduced a new game called iLottery. Since its launch, net gaming revenue from iLottery has grown by 332%. This new game provides a significant source of revenue to support education.
The New Hampshire lottery program has become an international sensation. The lottery jackpots for the Powerball and Mega Millions have reached billions of dollars, making New Hampshire lottery spending boom-tastic. Gas stations and retailers have reported a strong business for lottery tickets.
Powerball ticket sales have increased
Since the Powerball jackpots began rolling over in January, ticket sales have risen sharply. While sales remain around 20% below pre-pandemic levels, the jackpots have more than doubled in size. In late January, five tickets had won $1 billion jackpots. The jackpot is now approaching $7 billion.
A quarter of the Powerball’s revenue goes to the 43 states plus Washington D.C., and the remaining 60% goes to winners. Retailers get 5% to 6% of the revenue from Powerball ticket sales. That means they get $10 to $12 for every hundred tickets sold. The remaining 9% of the revenue goes toward administrative costs and advertising.
The jackpot for both Mega Millions and Powerball increased in recent weeks. However, no winner of the jackpot took home the entire jackpot. The jackpots will remain at these levels until a winner is announced. The odds of winning are still low, at one in 292.2 million. A winner can choose to receive their prize in 30 annual installments, or in a lump sum in cash. The drawing is scheduled for Wednesday night at 10:59 pm ET.