New Mexico Lottery scratcher sales increased by 14.54 percent in fiscal year 2015, which means more students at UNM could potentially benefit from the Lottery Scholarship, according to University Associate Vice President Terry Babbitt.
According to a press release from New Mexico Lottery, $1 million in additional money was raised for college students this year from the increased sales.
“We began a number of new strategies this year, and players responded,” New Mexico Lottery CEO David Barden said. “Our partnership with players, retailers and the legislative community continues to make it possible for our children to focus on their studies rather than on finding money to pay for tuition.”
The fact that Lottery revenues increased at all is a good sign for students receiving the Legislative Lottery Scholarship, because many similar programs around the country have seen a gradual decline in revenue over the years, Babbitt said.
“The actual amount of the increase of $200,000 could fund 40 more students at UNM this year, based on current payment rates,” he said. “However, the actual statewide impact is much smaller, as it would take three or four times this amount to increase the payout to students from 90 percent to 91 percent.”
The Lottery Scholarship will benefit an estimated 25,000 students across the state this fall, including 6,500 from UNM, Babbitt said. UNM received about $36 million from the LLS last year.
Babbitt said the current state of the Lottery Scholarship will cover 93 percent of each recipient’s tuition this fall, amounting to $2,404 of the $2,579 mandated for a 15-credit-hour semester.
According to the New Mexico Lottery statement, despite overall higher monetary return than fiscal year 2014, drawing games, including Powerball and Mega Millions, did not reach as many of the big jackpots that drive big sales as had previous fiscal years.
“New Mexico Powerball sales were down 18.53 percent. Nationwide, Powerball sales declined 17.24 percent collectively,” according to the statement.
The statement attributed the increase in scratcher sales, which rose by more than $10 million, to the strategies introduced by Barden. They included a year-long scratcher promotion, monthly game launches and scratcher ticket “call outs,” according to the statement.
Ijlal Shamoon, a junior in the chemical engineering department, said that the sales increase was great news for residents of New Mexico.
“The increase means students will benefit more from the scholarship. They will be able to concentrate on their studies,” he said. “The increase kind of provides sense of security to the students at a time when the University is not doing well financially.”
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Since its creation in 1996, the lottery has raised a total of $654.5 million for education in New Mexico, helping more than 97,000 students to attend college on Legislative Lottery Scholarships, according to the statement from New Mexico Lottery.
Sayyed Shah is the assistant news editor at the Daily Lobo. He can be contacted at assistant-news@dailylobo.com or on Twitter @mianfawadshah.
