By AMY JOHNSTON | KVUE News | October 19, 2009
Monday, a new way to raise money was announced, and the Legislature is gambling that a new lottery game will pay big.
At the Zip’n in North Austin, the lottery is big business.
“Mostly we sell the $10 (or) $20 tickets,” said Salim Mardia.
Scratch-off tickets are especially popular — from one dollar up to $50, according to Mardia.
Now the Legislature is banking on that popularity to help Texas veterans. On Monday, they unveiled a new $2 lottery ticket called Veterans Cash. Part of the money goes back to the state’s Permanent Fund for Veteran’s Assistance.
“We could help more veterans with transportation assistance to hospitals. We could help fund PTSD (Post Traumatic Stress Disorder) counseling services that are so crucial especially to many of our younger veterans. We could do more to reduce the shame of homeless veterans,” said State Rep. Chris Turner.
Ticket sales are expected to generate about $8 million in revenue in its first year. Here’s where money that will go: 65 percent to prizes; 5 percent to retail commission; 7 percent to administrative costs; that leaves 23 percent of sales — about 46 cents per ticket — for the Fund for Veteran’s Assistance.