Pennsylvania, New Jersey See Economic Boost From Giant Lottery Prizes
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By Tim Jimenez
PHILADELPHIA (CBS) – Saturday nights Powerball drawing for $600 million will be the largest in the game’s history, and the second-largest lottery jackpot of all-time.
This comes a day after two tickets, one sold in New Jersey, hit the $190 million dollar Mega Millions jackpot (see related story).
These giant prizes have many players dreaming big and local lottery officials excited for an economic boost.
Pennsylvania lottery President Todd Rucci says during this latest Powerball run beginning April 3rd, they’ve taken in about $25 million in Powerball revenue on top of money from state-only games.
And with 30 cents of every dollar going to older Pennsylvanians, Rucci says the benefits are all too real.
“Property tax and rent rebates for folks, our area agencies on aging for senior citizens, free and reduced fair share rides, low cost prescription drugs like PACE and PACENET and long-term living services also,” Rucci explains.
In New Jersey, education, human services and military and veterans affairs get a jolt. Last year the state took in nearly $1 billion for those programs from the lottery alone.
But even with all of that, lottery officials like Rucci still ask players to not go overboard, spending only what they can afford.
“It’s fun and exciting but you only need one ticket to throw your hat in the mix here,” he says.