Australians Spend Big on Lotteries in 2020 | Keno & Powerball

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South Australians spend big on lotteries

A new report by the Lotteries Commission of South Australia has revealed that residents gambled a record $552 million on lotto tickets and won $331 million.

The Advertiser reports that while the search continues for a lucky punter who purchased a ticket in the state’s south-east in July, but is yet to claim their $1 million prize, punters spent more on lotto this financial year than last.

Despite many people being forced to tighten their belts in the fallout of the coronavirus pandemic, the commission’s annual report reveals people were still keen to try their luck at winning big.

By comparison, punters spent $539 million and won $322 million in 2018/19.

South Australian Council of Social Service chief executive director Ross Womersley said the rise could have been due to pokies being unavailable because of COVID-19 restrictions.

“I think the other thing is that things have been very tense and difficult and so people are more tempted to gamble in an effort to get themselves set up,” he said.

But Mr Wormesley warned against this strategy.

“The odds are absolutely clear,” he said.

“Gambling is one of those activities which is loaded in favour of the gambling institution and it’s almost certain that most people will lose whatever they’re gambling, or lose a large proportion of whatever they’ve gambled, so it’s not actually a pathway to riches.”

Powerball proved to be the most popular game last year, however, Keno paid out the most prize money.

Powerball sales soared 30 per cent to $143 million and the game paid out $80 million in winnings.

Keno sales increased by 21 per cent to $116 million and paid out $85 million.

The Saturday Lotto was also a favoured game, with its sales increasing by 24 per cent to $134 million.

A total of $36 million was spent on instant scratchies and $21.8 million was won.

The least popular game was Super 66, which only made $1.5 million in sales and paid out $800,000.

Meanwhile, almost $9.2 million in overall prize money remains unclaimed, including a $1.05 million division one prize.

That ticket was bought at the NewsXpress Naracoorte in July.

The Lott spokeswoman Bronwyn Spencer said the organisation was “still waiting to hear the winning scream of delight from our mystery Naracoorte player.”

“We encourage all players who purchased an entry ticket into that draw to check their tickets and if they believe they are holding a division one winning entry to give us a call on 131 868 to begin the process of claiming their prize,” she said.

In South Australia, winning ticket holders have 12 months from the date of the draw to claim their prize directly from SA Lotteries.

After this time, players can claim their prize from the Commission’s Unclaimed Prized Reserve, however, there are administration costs involved with this process.

The reporter stated the Commission contributed $92 million to the Hospitals Fund for the provision, maintenance, development and improvement of public hospitals, up from $90 million from the previous year.

Jumbo Interactive extends lottery resale agreement with Tabcorp

Online lottery ticket retailer Jumbo Interactive has extended its resale agreement with gambling giant Tabcorp until 2030 but will pay new fees which will crunch its earnings in the short term.

The Sydney Morning Herald reported in June that investors in the $630 million group were bitterly disappointed by the deal announced on Monday morning following a mysterious two-week trading halt, sending Jumbo’s shares plummeting to close 13 per cent lower.

Jumbo runs the OzLotteries website, which sells tickets for Tabcorp’s Powerball, OzLotto and TattsLotto under an agreement that could have been terminated by either party in May 2020.

That looming deadline was causing anxiety for some Jumbo investors.

The group clipped $320 million worth of Tabcorp lotto tickets last financial year, which accounted for almost all its $65.2 million in revenue.

Jumbo went into a trading halt two weeks ago telling investors it was in negotiations over its resale operations in Western Australia, where Tabcorp does not have a lotteries licence.

It later updated that to say its nationwide agreement with Tabcorp was also being renegotiated.

On Monday, Jumbo said it had agreed with Tabcorp to extend their reseller agreement in all states and territories, except Western Australia and Queensland until 2030, in a deal that included a $15 million extension fee and a new annual service fee scaling of up to 4.65 per cent in 2024.

“The next 10 years will see a lot of advances in the lottery industry both in Australia and abroad,” Jumbo chief executive and founder Mike Veverka said.

“The new 10-year reseller agreements are the longest ever term in Jumbo’s history and provide a basis for continuing expansion.”

William Brown

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