A bill which would make a change to the state’s lottery law to the benefit of senior citizens has been approved by the House Aging Committee.
State Representative Thomas Murt (from Philadelphia) says it may sound like convoluted math, but the bill seeks to increase lottery profits by lowering the rate of return on lottery games.
“Because of the higher pay-outs, these lottery games have a lower profit margin. However, the higher pay-outs generate more ticket sales,” Murt said. “Even with a lower profit margin, the lottery games will generate more profit because revenues from ticket sales will be higher.”
Murt says the increased profits would go to programs which benefit senior citizens.
The bill calls for temporarily lowering the rate of return on lottery games from 25 to 23 percent for the next three fiscal years.
Officials say the PA Lottery has requested the legislation.
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