On Friday, Jan. 5, WyoLottoTM transferred $1,001,963 to the State Treasurer’s Office, where the funds will be distributed to Wyoming cities, towns and counties.
This is the second of four quarterly transfers that will occur this fiscal year [July 1, 2017-June 30, 2018]. To date, the Wyoming Lottery has transferred a total of $6,539,300.94 to the State of Wyoming since launching in 2014. Committed to giving back to Wyoming, quarterly revenue transfers are a critical part of WyoLotto’s mission.
“Thanks to our dedication to paying off our start-up loan early, we were able to start making transfers to the state in April 2016, making this our eighth transfer,” said Jon Clontz, WyoLotto CEO.
Clontz added that he is very excited for 2018 and expects it to be the most successful year yet. “We have been working hard to get our brand recognized by players throughout the state, and as such have set a goal to be in as many communities as possible focusing on relationships with retailers and smaller communities. We’re thrilled about giving back to Wyoming with this most recent transfer and the positive impact it will have on our counties and municipalities. Overall, it is far-reaching and meaningful—to residents, to businesses, to winners—celebrating keeping money in Wyoming that, without the Lottery, would have been spent elsewhere,” Clontz said.
Not only are Wyoming communities winning, but players and retailers are also winning.
- Since launch, the Wyoming Lottery has seen 2,269,922 WyoLotto players take home $33,505,280 in winnings.
- There are approximately 450 WyoLotto retailers around the state.
- According to the Wyoming Lottery’s 2017 Governor’s Report, retailers have earned over $5 million in commissions from August 2014-October 2017. Small businesses around the state have been able to realize the benefit derived from a new revenue source that didn’t exist before the Lottery was formed.
A young corporation, the WyoLotto continues to increase revenue and decrease expenses. Large jackpots, like the recent Jan. 6 of nearly half a billion in Mega Millions and over half a billion in Powerball, hugely impact sales forecasts on a positive note.
By state statute, at least 45 percent of net proceeds from lottery sales must go to the prize pool. In 2015 and 2016, approximately 55 percent each year went to the prize pool. This number rose to 57 percent in 2017.
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