(Pierre) - The winning ticket for Saturday’s record $365 million Powerball jackpot wasn’t sold in South Dakota, but the tickets players bought trying generated more than $850,000 in revenue to the state.
Powerball ticket sales for the 19-draw jackpot run that began with the Dec. 17 drawing and ended Saturday night totaled $3.7 million. While players won more than $827,000 in prizes during the run, state funds also benefited from ticket sales.
Twenty three cents of each $1 Powerball ticket purchase is state revenue that is distributed to the state’s general fund and capital construction fund. The general fund is the state’s general operating fund. The capital construction fund is used for ethanol production incentives, water and environment programs, and state highway projects. Since the jackpot run began, state revenues from Powerball ticket sales totaled $851,702.
The 394 lotto retailers across the state also benefited from the increased sales a large jackpot run can bring. Approximately five-and-a-half cents of each ticket purchase goes to retailers in the form of sales commissions and bonuses. The record jackpot run earned retailers more than $203,600 in commissions and bonuses.
In state fiscal year 2005, sales of Powerball, Dakota Cash, Hot Lotto and Wild Card 2 lotto tickets generated a total of $3.7 million in revenue to the state. By law, the first $1.4 million in revenue is distributed to the general fund, with the remainder distributed to the capital construction fund.