Oklahoma Lottery Sales Top $5 Million
OKLAHOMA CITY, OK – October 14, 2005
The Oklahoma Lottery announced that estimated sales topped $5 million early today, less than three full days after the Lottery’s successful October 12 launch. Estimated sales are based on ticket activations. As of 3 pm, a total of twenty Lucky 7’s top prizes and eleven $5,000 prizes had been claimed. Enthusiastic retailers have placed reorders to stock up for weekend sales.
New retailers applications are being received daily as the installation of terminals continues. There are now close to 1300 installed locations with another 300 approved for installation which will bring the total retail base to approximately 1600.
Between October 12 and the start of the next fiscal year on July 1, 2006, the Oklahoma Lottery estimates it will produce $65 million in net revenue on anticipated sales of about $219 million. Oklahoma’s lottery law requires that at least 30 percent of net proceeds are to go to education the first two years, increasing to 35 percent after that. All Lottery proceeds are specifically earmarked as a supplement to, and not a replacement of, existing funds for education.