The Oregon Lottery will return more than $947 million to the state for the 2024 fiscal year – a $48 million increase from the previous year, according to the lottery’s latest report.
Lottery generated $940 million in profit and reduced reserves by nearly $8 million, enabling a higher return. Unclaimed prizes for the year totaled $8 million and will also go back to the state.
The funding directly benefits state parks and natural habitats, public schools, veteran services, outdoor schools, and economic development, the Oregon Lottery noted. Oregon Lottery is self-funded through the sale of games and voters and the Legislature designate where the money goes.
“Oregonians help support the state programs they care about by playing our games,” said Oregon Lottery Director Mike Wells. “We continue to celebrate the wins of our players, the retailers who sell our games, and the public programs lifted up by these funds in our communities.”
Lottery players earned payouts totaling nearly $16 billion for the year. Including a record-breaking $1.3 billion Powerball win in the spring, 13 players took home prizes worth $1 million or more. Prizes big and small account for about 92% of the Lottery dollars played.
Sales commissions on Lottery games also support retailers, many of whom are small business owners. The 3,800 Lottery retailers across Oregon collectively earned close to $310 million in commissions this year.
Oregon Lottery underscored that since 2016, it has maintained the highest level of accreditation for responsible gambling from both the National Association of State and Provincial Lotteries/National Council on Problem Gambling and the World Lottery Association’s (WLA) Responsible Gambling programs. Oregon is one of only eight lotteries in the US that reached this level by the WLA.
The Lottery’s financial year runs from July 1, 2023 to June 30, 2024. A final audited report is posted to Oregon Lottery’s website under ‘Proceeds and Financials.’
Original article: https://www.yogonet.com/international/news/2024/12/04/87464-oregon-lottery-transfers-947-million-back-to-state-for-the-2024-fiscal-year
