Even though some sectors of the economy still feel the effects of the world economic crisis, the same thing can’t be said about many a state lottery. The lotteries have continued to thrive and a recent report revealed that many of them got record profits last fiscal year. Even though the economy has had many serious problems over the past couple of years and unemployment is still very high, lotteries are still going strong. Lotteries

Terry Rich, the CEO of the Iowa State Lottery, said that it is his personal opinion that the lottery is thriving even in these times because it’s cheap, it’s a local product and “you’re able for a couple of bucks to dream about what might be.”

During the last fiscal year, the Iowa State Lottery sold $271 million worth of tickets, the highest sale rate since the lottery’s inception in 1985. Also, the state received more than $68 million, another record. However, those who played the lottery also walked out with more money. More than $159 million found new owners. That sum increased with 5.6 percent. Mega lottery

The Pennsylvania State Lottery is in the same situation. It appears that people are buying more lottery tickets than ever, and sales went up to an astounding $3.2 billion. That means that sales increased by $142.2 million. Also, it beat the previous record with almost $119 million. Powerball lottery

The lottery has put the money to good use and added 500 more retailers to its portfolio. Drew Svitko, acting executive director of the lottery, said that more than 9,000 retailers were under contract with the lottery last year. The Pennsylvania State Lottery turns over all of its profits to education, rent rebates, senior programs and many recreational services and programs.

Another lottery that managed to smash its own records is the Idaho one. It gave $37 million to the state, more than in any year since the lottery was founded back in 1989. Governor C. L. Otter said that the money is most welcome as it saves tax payers from more expenses.

The Kansas State Lottery generated a record $104 million in profits. $34 million came from several casinos owned by the state, while $70 million came from lottery tickets and other products. But keep in mind that the $104 million sum represents the profits alone. Sales actually went as a up as $232.4 million.