US Stands to Gain Billions if Lottery Sales Go Online - 04-25-08 |
April 25 - After conducting a comprehensive market research that
included seventeen states across the length and breadth of the United States, a
lottery retailer has come to the conclusion that the country is missing out on
earning nearly $4 billion each year by refusing to allow the sale of online
lottery tickets.
eLottery Inc., which sells governmental lottery tickets,
said the funds could be used to benefit many social and cultural needs in the
country, and fill empty state coffers.
eLottery President, Michael Yacenda said: "These additional funds
could be directly injected into the state's budget for education and public
safety, providing a cushion at a time when economic uncertainties abound
throughout the nation."
Taking the state of Pennsylvania as an example, Yacenda showed that
ticket sales could increase as much as ten percent if online lottery was
legalized. Based on 2007 sales, this translated to a loss of $308 million a
year.
Yacenda also stressed that traditional lottery outlets would not be
affected by moving the sale of tickets online because new markets would be
tapped into, notably the 18 to 34 year old age group. "The availability of
lottery tickets could attract up to 80 percent of the 18 to 24 and 25 to 34
demographic, an audience not currently purchasing tickets through traditional
channels - grocery stores, gas stations and cigarette stores," said Yacenda.
According to the research, the abovementioned age groups said that
they would buy lottery tickets if it was convenient for them to do so, citing
reasons such as standing in line to buy a ticket as to why they were not
attracted to this form of entertainment.
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