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Latest post 12-16-2011 6:37 PM by dbrown. 2 replies.
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  • 12-09-2011 5:00 PM

    2011 House Bill 5147 (Revise lottery payout formula )

    Introduced in the House on November 3, 2011, to eliminate a requirement that no more and no less than 45 percent of lottery ticket sale revenue be paid out in prizes, eliminating a 2012 sunset on this provision. According to a 2002 Senate Fiscal Agency analysis, approximately 54 percent of ticket sale revenue is distributed for prizes. Reportedly, the record in other states is that when payouts are reduced, lottery ticket sales and net proceeds also decline

    The vote was 107 in favor, 1 opposed and 1 not voting

    (House Roll Call 537 at House Journal 0)

    Click here to view bill details.
  • 12-09-2011 5:05 PM In reply to

    • dbrown
    • Top 100 Contributor
      Male
    • Joined on 01-07-2010
    • Northeastern Michigan

    Re: 2011 House Bill 5147 (Revise lottery payout formula )

     wHEN THE QUESTION OF SHOULD THERE BE A LOTTO OR NOT THE PRIZE WAS TO BE 50% OF THE REVENUE, EVER SINCE IT WAS PASSED THE STATE HAS LOOKED FOR WAYS TO SHORT CHANGE THE PEOPLE THAT BUY TICKETS. IT'S NO WONDER THAT THE LOTTO IS NOT AS POPULAR AS IT ONCE WAS.

     

  • 12-16-2011 6:37 PM In reply to

    • dbrown
    • Top 100 Contributor
      Male
    • Joined on 01-07-2010
    • Northeastern Michigan

    Re: 2011 House Bill 5147 (Revise lottery payout formula )

     The original law to establish the Lotto set the prize at 50% of the revenue, the State has made billions on the Lottory at that rate if they are going to get greedy and steal more they can count me out, I'll go to the casino chances are better there any way.

     

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