STAMFORD, Conn., March 30, 2011 (GLOBE NEWSWIRE) -- Florida could increase its lottery revenues by a minimum of $585 million annually if tickets to selected lottery games were available online, according to eLottery Inc., the web-based retailer of government lottery tickets.
"It's time for the State of Florida to take its lottery operations into the 21st century, embrace e-commerce, and sell its lottery products through the internet," says Edwin McGuinn, chairman of Connecticut-based eLottery Inc.
Revenues of Florida lotteries in 2010 were $3.9 billion. "The state could increase its lottery revenues by a minimum of 15 percent with an internet sales channel – that's $585 million.
"A properly developed e-commerce sales channel could attract a host of new participants," according to Mr. McGuinn. These would include young adults who are comfortable with social gaming; non-traditional lottery players who earn more than $75,000 annually; and older people who either have no access to traditional lottery outlets, or simply don't want to wait on line.
"It would have little if any effect on those purchasing tickets through traditional sources, would be secure, more entertaining and addressable to problem gambling concerns," Mr. McGuinn said.
"Virtually every state in the union is wrestling with monumental deficits and the thankless task of cutting program services and raising taxes. This is one way to address the problem," Mr. McGuinn said.
CONTACT: Victor Emmanuel, VJE Consultants 914-305-5198 Edwin McGuinn, Chairman, eLottery Inc. 203-388-1808