Do Stores Make Money From Lottery Tickets? Lets take a look and find out how it all works.
The COVID-19 pandemic transformed the lives of billions of people of all backgrounds all around the world. It doesn’t matter if you are an architect, data scientist, or work at Starbucks – your life has been greatly affected by the situation at hand.
If you can work remotely, then you can consider yourself lucky, as you won’t have to come into contact with people on an everyday basis.
However, even if you work at a grocery store, and you constantly risk getting infected with the virus, at least you still have a job. Millions of Americans have lost their jobs since the outbreak of a pandemic, and the situation is improving, albeit slowly.
No matter how maddening the current situation is, it is important not to forget about entertainment, as focusing solely on bad news will leave you tired and pessimistic quickly. One of the ways how people try to keep their morale high is by playing the lottery.
The COVID-19 virus can be deadly, but the boredom can have a terrible effect on our mental health as well. That’s why it is essential not to forget about entertainment. If you have ever wondered whether stores make money from lottery tickets, you will find an answer to this question below.
Do Stores Make Money From Lottery Tickets?
Why Do Stores Sell the Lottery Tickets?
The short answer is: yes, stores do make money from lottery tickets, though the details differ depending on the game and the location of the store.
The first incentive that the stores have to sell lottery tickets is increased traffic. If customers come to the store to buy a lottery ticket, they are more likely to buy something else as well. The hardest part is to attract the customer to actually enter the shop; if they are already there, it’s much easier to persuade them to buy more stuff.
However, as the end of the COVID-19 pandemic is nowhere near, we would like to remind once again the importance of wearing face masks inside shops and of social distancing. If you would like to exercise even more caution, you could play the lottery online for now. If you haven’t done that ever before, we recommend checking this website to find top online lottery sites.
Apart from the increased traffic, the store also has other, more direct reasons to sell the lottery tickets. Depending on the state in which the retailer is located, the commission on ticket sales ranges from 4.5% to 7%.
It might not seem like much until you consider that each month, hundreds of customers might come to the store just because it sells lottery tickets. As a result, it is a no brainer for the store owner to get a lottery license, as it can noticeably increase the profits.
However, on top of the commission, the store also receives a bonus if they sell a jackpot ticket. As you have probably guessed, it doesn’t happen often, but if it does happen, the stores can receive up to 2% of the winnings, though in most states, this sum is capped at 10 to 50 thousand dollars.
Still, the promise of this bonus serves as an excellent incentive for the stores all around the country to get their lottery license.
So, Do Stores Make Money From Lottery Tickets?
It is likely that in the upcoming months, more stores will start selling lottery tickets.
That’s because Americans, but also people in other parts of the globe are increasingly more likely to buy things online, which makes it difficult for small businesses to stay afloat. A lottery license can somewhat help in this regard, though it will be long before people aren’t afraid to shop in brick-and-mortar stores.
That’s not without good reason – according to the official data, currently, more than 6 million Americans have been infected with COVID-19, which means that it is essential to limit our face-to-face interactions with other people.
That’s why many people have been sticking to playing the lottery online, as there is no risk of getting infected or infecting other people.
Additionally, it’s more convenient, as you don’t need to commute to the store that sells lottery tickets, but you also don’t need to leave your house, or even bed – you only need a laptop or smartphone and internet connection.
Conclusion – Do Stores Make Money From Lottery Tickets?
Acquiring a lottery license is an excellent way for stores to become more profitable. The customers who come to the shop to buy lottery tickets usually spend money on other products as well, which leads to larger profits. On top of that, the store receives a commission from the sales of tickets, and occasionally, might receive a large bonus.
Do Stores Make Money From Lottery Tickets? is a featured post