Recent data showing the slump in millenials’ lotto habits has gained the attention of Louisiana Lottery officials. The state divvies out 35% of all lotto revenues to critical social programs, such as K-12 education and behavioral health services.
The fiscal year 2019 ended on a high note for the Louisiana Lottery, with scratch-off sales and Mega Millions contributing to the state’s highest-grossing year on the books. State lottery revenues totaled $526 million, with $184.3 million going to the state. This number is up $12 million from the previous year.
2020 lottery sales decline
Louisiana Lottery CEO Rose Hudson reported that sales are down in FY 2020 by 13% from the same point last year.
“We’re looking for ways we can bring lapsed players or new players into stores to purchase our products,” Hudson says. “It’s up to us to come up with ways to make it part of their entertainment spending.”
To Hudson, millenials are the demographic to focus on. Their spending falls far short of that of older generations.
Breaking things down per capita, players age 65-74 spend the most at $1,585 per year. Those 75 and older bring the second-largest revenues at $891. Players age 25 to 34 and those under 25 spend far less, with $484 and $91 per year recorded respectively.
Louisiana millenials’ low figures
Hudson attributed millenials’ low spending to student loan debt other sizable monetary hurdles. Whatever the reason, the push for online ticket sales is one move Hudson thinks will pay off big. By making the buying process more convenient, the lottery hopes to improve sales from those millennials and lapsed players who haven’t been frequenting their local corner lotto retailer as of late.
The only thing standing in the way is a three-decade-old Louisiana statute prohibiting online lotto ticket sales. With lotto proponents pushing for repeal, it remains unclear whether they have what it takes to get the statue overturned. That doesn’t mean there is any shortage of external resistance. Many residents have already chimed in to deplore the targeted campaign. Opponents say young people have it rough enough as it is. However, Hudson will press on in hopes of striking a win for the Louisiana Lottery Corp.
“We’d like to see movement in the area of eliminating that so we can meet our players where they are,” Hudson said. “We aren’t at the point of drafting legislation yet — just having internal preliminary discussions to get a sense of what the numbers could look like.”