Fewer People placing their bets

by: Jason Springer

Wed Jan 14, 2009 at 01:15:00 PM EST

Scientific Games, a maker of scratch-off lottery tickets, reports that revenue from scratch-off and daily lottery games is up since July in 25 of 42 states with lotteries.

In New Jersey, however, lottery revenue for the first four months of the new fiscal year -- which began in July -- has dipped 4 percent, from $352 million to $338 million through the end of November, the last month for which statistics are available.

It's about helping to feed a nutritious meal to a young student, or providing scholarships to a high school student. It's about improving the quality of life for disabled veterans and developmentally disabled individuals. As one of the most cost-efficient lotteries in the United States, the New Jersey Lottery spends approximately one percent of its revenues to operate and promote its business. As the State?s fourth largest revenue producer, the Lottery raised over $2.4 billion in sales for fiscal year 2006, and was able to contribute more than $844 million to the State to help fund education and institutions, making everyone in the Garden State a winner.

Since its inception 35 years ago, the Lottery has dedicated over $15.6 billion to programs that benefit millions of New Jersey residents. Educational opportunity programs, the Department of Human Services, the Department of Military and Veterans Affairs, the School Nutrition Program, and the Marie Katzenbach School for the Deaf are just a few of the organizations and programs whose constituencies benefit from Lottery proceeds.

Atlantic City's revenues continued to fall in December, according to the latest statistics from New Jersey, with the gambling centre's 11 land casinos showing an accelerated decline over the previous year. The casinos won $302 million from gamblers in December, down 18.7 percent, exceeding the 15.1 percent decline set in September.

Throughout 2008, Atlantic City's casinos won 7.6 percent less from gamblers than they had in 2007, and prior to that, casino revenue had increased every year since gambling was legalised in the area back in 1978.

Joseph Weinert, senior vice president of consultants Spectrum Gaming Group commented: "Over the last two years, about $600 million in gross gaming revenue has disappeared from Atlantic City." He added that 3 300 casino jobs had been the human cost of the two year decline.

Moneys in the Casino Revenue Fund shall be appropriated exclusively for reductions in property taxes, rentals, telephone, gas, electric, and municipal utilities charges of eligible senior citizens and disabled residents of the State, and for additional or expanded health services or benefits or transportation services or benefits to eligible senior citizens and disabled residents, as shall be provided by law.