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Winner collects $1 million in Veterans Raffle; Lottery could face loss of $100,000

Post by Jordan Schrader / The News Tribune on Jan. 9, 2013 at 10:11 am with No Comments »
January 9, 2013 10:19 am
Courtesy of Washington's Lottery
Courtesy of Washington’s Lottery

Lottery officials said last week their Veterans Raffle wouldn’t raise significant money for grants to returning soldiers, its intended purpose.

Now it appears the money raised won’t even cover expenses and prizes, and the Lottery will lose money on the raffle — probably about $100,000.

Any loss will come out of the agency’s marketing budget. The Lottery said it doesn’t expect the loss to affect the college fund that receives most of its proceeds. (In fact, the agency believes higher education will receive more money than expected this year thanks to high ticket sales elsewhere).

The potential loss of $100,000 is based on preliminary estimates by the Lottery that it paid about $342,000 for the raffle’s expenses — far less than last year but still enough along with $1.04 million in possible prizes to outstrip the $1.28 million in tickets sold.

Numbers won’t be certain until all prizes are claimed or unclaimed, but the big prize of $1 million has a winner: Stacey Morehouse of East Wenatchee.

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