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Moderate Lottery Jackpot Dampening Sales28 August 2000EVANSVILLE, INDIANA --Aug. 28, 2000 –As reported by the Evansville Courier and Press: "The state's lottery director knows that nothing sells tickets faster than the lure of a big, $100 million-plus Powerball jackpot. "But Jim Maguire says those big jackpots have actually led to a decline in ticket sales — which could end up hurting some projects across the state. "But now, players aren't getting as excited about the $15 million prizes — and they're waiting for the jackpot to grow before playing again. "In fiscal year 2000, which ended in June, the lottery sold $582.7 million worth of tickets — plunging $98.5 million from the year before. "…Indiana wasn't the only state to see a drop in lottery revenue. Through mid-June, the Michigan Lottery saw a $41 million drop in sales for the fiscal year ending Sept. 30 after eight consecutive years of increases, according to news reports. "The Wisconsin Lottery saw a drop of $21.5 million, or about 5 percent, for the 1999-2000 fiscal year, the Milwaukee Journal Sentinel reported. "Declines also have been reported in Texas, Nebraska and Kentucky. "Indiana's decrease in sales amounted to about 15 percent. "…Meanwhile, Maguire is asking the lottery's marketing experts to come up with promotions to entice people to play when Powerball pots are in the $30 million to $70 million range. |