Panel- Where is the U.S. Lottery Industry Going After a $1.58 Billion Jackpot (May Scheve Reardon, Gary Grief)

Two U.S. lottery directors discussed the implications of Powerball’s $1.6 billion jackpot in the afternoon panel.
“Mega Millions currently has a $415 million jackpot. That is the fourth largest jackpot ever, yet there is no player interest or media coverage. That is what the billion dollar jackpot did. As wonderful as it was, it really makes that next mountain hard to find. The research shows that jackpots will have to exceed $500 million before players will get interested,” Gary Grief, Executive Director, Texas Lottery, said.
“We turned over $300 million to the legislature. They were thrilled. I told them next year we expect to raise $273 million. They said they understood but they still budgeted $311 million,” May Reardon, Executive Director, Missouri Lottery said.
“My message to the policy makers is if you could remove some of the restraints, widen the parameters, and just see what we can do,” Grief said.