The record sales numbers the Iowa Lottery saw in the last fiscal year have slowed down in the new fiscal year that started in July.
Iowa Lottery CEO Matt Strawn says they believed the record sales were brought on by the unique circumstances of the pandemic — and now things are getting back to normal.
“And that really is what we are seeing in the marketplace as we start the next fiscal year, starting out July 1,” Strawn says. “While we are no longer seeing those year-over-year double-digit increases — I am pleased to report to the board this morning that Lottery sales remain strong.”
Strawn reported on the numbers during today’s Iowa Lottery Board meeting. “Through August 31st, gross lottery sales for FY ’22 are running 2.9% ahead of last year, and ahead of budget projections,” according to Strawn.
Scratch tickets led the way in the record sales year, while lotto games lagged. Strawn says the new fiscal year is seeing some changes there. “Scratch ticket sales are up a modest 1.4% year-over-year. While the multijurisdiction games of Powerball, Mega Millions, and Lucky for Life are up a combined 30.4% through the end of August,” Strawn says.
Strawn says the lotto games have seen a boost in sales as recent jackpots climbed — including a Powerball jackpot that is more than $500 million and still growing.