Established originally in 1964 under Chapter 284:21-a of New Hampshire RSA, the Lottery operates essentially to benefit New Hampshire Education. The Lottery Commission games are made up of a variety of instant and on-line lottery products. The Lottery is an active member of two joint venture arrangements; the Tri-State Lotto Commission and the Multi-State Lottery Association, and operates a number of on-line games under those jurisdictions.
Gaming Commission, but to control transfers to ETF, the activity is still accounted for in the Lottery Commission. Monthly profits from both Lottery and Bingo/Lucky 7 are calculated and transferred to ETF on the 20th of the following month.
Total sales of Lottery have declined appreciably since FY 2008. This trend is consistent with Lottery management's observation of experience in the industry nationally. Instant tickets range in price from $1 to $30. Overall, instant scratch ticket sales grew to a high of $189 million in 2009, but since then have declined to fiscal year 2005 levels. The most popular on-line game is Powerball. Powerball sales, however, have declined consistent with other games.
ETF records revenue each month representing a transfer of operating results of Lottery for the prior month, with the exception of June in which an estimate for the current month results are also included. ETF for July of the new fiscal year then only reflects any adjustments to the previous month's estimate. Accordingly, the fourth quarter of the fiscal year reflects four months' operations and the first quarter only two.
The total transfer to the Education Trust Fund for fiscal year 2010 was $69.4 million. Through the nine months ended March 31'st of fiscal 2011, transfers totaled $42.4 million, $8.8 million, or 17.2% below plan and $0.5 million (1.2%) below prior year. Sales for the Lottery are heavily influenced by the level of the jackpot, which increases until there is a winner. The longer, and higher a jackpot runs before winning, the greater sales will be. A Powerball jackpot of $250 million during the quarter last year resulted in strong September sales for FY2010 which were not repeated in FY2011.