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Hungarian Lottery in Spotlight

"While gamblers dream of the Ft 4.13 billion (US$18.1 million) top prize in the 5/90 game, the government hopes to improve the budget balance by collecting even more – in the form of taxes and dividends from the state-owned gambling monopoly, Szerencsejáték Rt.

"`Our revenues from ticket sales last week totaled Ft 3.099 billion, which compares to Ft 2.027 billion in the same week in 2002. Thanks to the large accumulated jackpot on the 5/90 lottery, nearly two-thirds of the Ft 3 billion revenues came from this game,' László Somorai, communications director at Szerencsejáték, said last Friday.

"…According to Somorai, between 60% and 70% of the company's revenues are paid out in jackpots and spent on taxes and contributions. In 2002, Szerencsejáték had a total turnover of Ft 102 billion, of which Ft 40 billion went to the central budget in various forms, he said.

"Somorai said Szerencsejáték collected record revenues of Ft 51.19 billion (US$224.2 million) in the first half of 2003, up from Ft 46.44 billion in the corresponding period of last year. The record revenues on the 5/90 game came from sales of 12.2 million, 12.8 million and 12.6 million tickets, respectively, in the last three weeks, he added.

"Describing various budget revenues from the gambling monopoly, Somorai said Szerencsejáték pays a flat gaming tax of 18% on all revenues from all lottery game variations.

"…Somorai said Szerencsejáték on average realizes the largest profits on lottery games, while sports betting games provide the smallest margin.

"…Last week's jackpot of Ft 4.13 billion was the largest ever sum offered for a winning ticket in Hungary, and the largest lottery jackpot available in all of Europe at the time, Somorai said.

"…Somorai said the huge prize does not only excite local players, but also attracts flocks of tourists from neighboring countries…"

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