CLIVE — The Iowa Lottery is on a pace to surpass the record for sales set last year. Lottery CEO Matt Strawn detailed the numbers through November today for the Lottery Board. He says says thus far are $214,532,943 dollars.
“That represents a 5.14% year over year increase in sales,” Strawn says. The record for sales in the last fiscal year was 481-point-five million dollars. He says the proceeds to the state are also on a pace to beat last year’s record. “The lottery proceeds through November, again the first five months of fiscal ’24, proceeds of $49,416,943. This represents a 3.1% year over year increase in proceeds,” Strawn says. The record for proceeds set in the last fiscal year was a little more than 108 million dollars.
Lottery retailers are also looking at another possible record for commissions. “Retail partners did earn a record $31.3 million in sales commissions during the last fiscal year, and then turning to this year through November, fiscal year ’24. Sales commissions paid to retailers exceed that pace and 5.7% year over year,” Strawn says.
The increase in sales is due in part to large lotto jackpots. There’s also been an impact from the economy, including increase in scratch ticket sales as gas prices have come down.