Topics

Powerball Lottery
Lottery sales surpass $5 billion for first time
Lottery sales surpass $5 billion for first time

California's lottery is on a winning streak. For the first time in its almost three-decade history, wagers at the state's gambling enterprise broke the $5-billion mark for the year that ended June 30. Revenues rose 13% over the previous year, generating $1.35 billion for K-12 schools and higher education, a jump of 5%. It was the fifth year in a row that sales increased and the 14th that provided schools with more than $1 billion. California's ongoing economic recovery gets some of the credit for an uptick in sales. But a more crucial factor, lottery officials said, was a legislative change that gave them more flexibility to reward bigger winning bets with bigger...

Loading