All that hub-bub over last month’s world-record Powerball® jackpot has led to some big lottery numbers here in our state. The Iowa Lottery smashed several long-standing records in January.
Our financial figures for January are out today, showing that the lottery set records for its highest monthly sales, highest monthly proceeds to state causes and highest monthly prizes to players since its start in 1985.
The Jan. 13 Powerball drawing was a historic moment, and we thank our players and retailers for being part of it with us. It was definitely a busy time, but we had a lot of fun, too. And our joint efforts have made a big difference right here at home by raising additional lottery proceeds for state causes while at the same time bringing a record amount in prizes to players.
The Powerball jackpot grew for more than two months before it reached a world-record level of nearly $1.6 billion annuity ($983.5 million lump-sum option) and was split in the Jan. 13 drawing by three tickets purchased in California, Florida and Tennessee. During that jackpot run from Nov. 5, 2015, to Jan. 13, 2016, the Iowa Lottery sold about $34.2 million in Powerball tickets. That compares to a total of $52.2 million in Powerball sales in all of fiscal year 2015.
With the world-record jackpot drawing occurring in January, total monthly sales for the Iowa Lottery hit $54.1 million, topping the previous monthly sales record of $42.2 million set in February 2006. Monthly lottery proceeds to state causes also were a record, totaling $17.3 million. The previous monthly proceeds total of $11.6 million had stood since February 2006.
Prizes to players also set a record for the month, totaling $30.2 million. That surpassed the previous record of $20.3 million set in March 2013.
During the course of the month, the lottery also saw its highest Powerball sales for one day ($6.3 million on Jan. 13), its biggest sales week ($19.5 million for the week ending Jan. 9), and its highest monthly sales for instant-scratch tickets ($20.8 million).
We know that things will continue to fluctuate in the months ahead, but the lottery is well positioned to meet its budget targets for the year, with sales and proceeds through January both ahead of budget and the lottery’s five-year average.
Our strong performance last month also sent total prizes to players past a historic mark. Since the Iowa Lottery’s start in 1985, players have now won more than $3.6 billion in prizes while the lottery has raised more than $1.6 billion for state causes.