The Texas Lottery revealed that it has achieved $8.39 billion in sales for fiscal year (FY) 2024, marking the second-best year in the agency’s history. The strong performance led to the Texas Lottery generating $2.007 billion for the State of Texas to support public education and veterans’ services, the report shows.
“This marks the second-consecutive year that the agency has transferred at least $2 billion to its two primary beneficiaries,” the Texas Lottery stated. “Despite fewer billion-dollar multi-jurisdiction jackpots and multiple major weather incidents, innovative product offerings and strong player engagement propelled the Texas Lottery to its second-best year for both scratch ticket and draw game sales.”
While the agency’s FY 2024 sales results were consistent with the broader lottery industry, it surpassed its average sales of the last three fiscal years. The Texas Lottery has now seen sales growth of $1.686 billion, or 25.2%, over the past five years.
“The 2024 fiscal year was a standout year for the Texas Lottery, once again showcasing its ability to develop exciting new games that captivate and engage lottery players,” said Ryan Mindell, Executive Director of the Texas Lottery.
“This success is a testament to the commitment of the entire Texas Lottery team and its partners to generate important revenue for public education and veterans’ services. As the new fiscal year gets underway, we’re excited to build on these accomplishments to maximize support for our beneficiaries.”
“The Texas Lottery continues to demonstrate its commitment to supporting the State of Texas,” said Robert G. Rivera, Chairman of the Texas Lottery Commission. “The hard work and dedication of agency staff and vendor partners signifies tangible appreciation for the Foundation School Fund and the Fund for Veterans’ Assistance. Looking ahead, the Texas Lottery is committed to building on this year’s progress and further enhancing support for our state.”
Sunset Review process
In FY 2024, the Texas Lottery Commission began its Sunset Review, an independent assessment led by the Sunset Advisory Commission. This process, which will continue through the upcoming 89th Legislature, evaluates the agency’s effectiveness and proposes recommendations for improvement.
“The agency remains prepared to implement any changes deemed necessary by the Legislature to enhance its operations and continue serving the State’s needs effectively,” it said in a statement.
Emphasis on responsible gambling efforts
In FY 2024, the Texas Lottery continued to prioritize responsible gambling (RG) as a core element of its social responsibility initiatives. This commitment was carried out through a comprehensive approach that included enhanced annual training for retailers, vendor staff, and agency employees. This training was complemented by the agency’s active participation in the international campaigns for Problem Gambling Awareness Month.
The Texas Lottery took additional steps in August 2024 by launching a focused campaign, running through early FY 2025, to reinforce that lottery tickets are not for minors. This initiative included retailer-specific messaging in newsletters and sales terminal notices. The general public was notified through social media posts, mobile app notifications, email notifications, screens at the point of purchase, and website and mobile app banners.
All advertising and marketing materials and self-service vending machines maintained messaging to remind customers and retailers that players must be 18 years or older to purchase lottery tickets while providing accessible information for responsible play and resources for support with problem gambling.
FY 2024 by the numbers
This is the fourth consecutive year the Texas Lottery generated more than $8 billion in sales. With a total contribution of $2.007 billion to the State, this is the 21st consecutive year that the Texas Lottery generated more than $1 billion in revenue for Texas and the second straight year it has transferred more than $2 billion.
97.6% of Texas Lottery sales were returned in the form of contributions to the Foundation School Fund, the Fund for Veterans’ Assistance and other state programs, and through prizes, retailer commissions, and retailer incentives.
The Foundation School Fund, administered by the Texas Education Agency, funds the operational needs and special program services for Texas school districts, including teacher salaries, utilities, equipment, bilingual education, special education, gifted and talented education, and career and technical education.
The Texas Veterans Commission Fund for Veterans’ Assistance makes grants available to eligible charitable organizations, local government agencies, and Veterans Service Organizations that provide direct services to Texas veterans and their families. With 1.5 million veterans spread across the state, these programs provide financial assistance, transportation services, Post-Traumatic Stress Disorder counseling, and housing assistance.
Original article: https://www.yogonet.com/international/noticias/2024/10/14/81867-texas-lottery-generates-839-billion-in-sales-in-fy-2024-its-secondbest-year
