Bigger is better, as far as lottery jackpots are concerned and the proof was underscored by the experience reported by the New York Lottery.
In a recent budget proposed by Gov. Andrew Cuomo, state Lotto receipts dropped from $137.5 million in 2005 to a projected $44 million in the current fiscal year.
The reason, officials said, was Lotto is simply less alluring than the six-figure jackpots of Powerball and Mega Millions, which are sold around the country.
As a result of the decline, budgeters said, Lotto now represents a small slice of the state’s lottery revenue.
Cuomo hopes to boost gaming revenues by awarding as many as seven casino licenses.
Ray Poirier is the longtime executive editor at GamingToday.
Contact Ray at [email protected].