WyoLotto makes third revenue transfer to Wyoming

As a part of the Wyoming Lottery’s goal to give back to Wyoming, WyoLotto made a third transfer of revenue to the state on Oct. 7.

This revenue transfer, totaling $797,638, brings the lottery’s total revenue transfer amount to $2,832,638 since April of this year. WyoLotto looks forward to building on the success that has made these transfers possible and will launch the Lottery’s newest game, Lucky For Life?, on Dec. 4. Lucky for Life is a draw game offering players a grand prize of $1,000 a day for life.

WyoLotto is committed to contributing to the Wyoming communities that have supported the organization from the start. By paying off the Lottery’s start up loan early, WyoLotto was able to make their first transfer to the state of more than $1 million sooner than anticipated on April 5.

Jon Clontz, WyoLotto CEO said, “We attribute our success to the players, retailers, and other supporters throughout Wyoming who have allowed us to give back revenue to support our communities.”

For years, Wyoming’s lottery players spent money in neighboring states. With the launch of the Wyoming Lottery in August 2014, and the introduction of Cowboy Draw in March 2015, WyoLotto has successfully kept Wyoming dollars in Wyoming, spent at Wyoming retailers. What began as a startup, has become an established and growing Wyoming organization.

So far, WyoLotto players have won more than 1.7 million times. In a state with a population of 563,626, that means great odds for players. Those winners have taken home more than $26.4 million in prizes.

Clontz added, “We are proud to be able to share the success of the Lottery, by giving back to the state through revenue transfers.” The Lottery transfers revenue to the Wyoming State Treasurer every financial quarter, with the amount dependent on lottery revenue.

Per the state statute, revenue transfers each year will be distributed by the State Treasurer to Wyoming’s 99 cities and towns, and 23 counties. Should revenue transfers exceed $6 million in a fiscal year, those funds will be directed to the Wyoming Permanent Land Fund’s Common School Account.

From Wyoming Business Report