
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, November 5, 1993                   TAG: 9311050055
SECTION: VIRGINIA                    PAGE: B-3   EDITION: METRO 
SOURCE: 
DATELINE: RICHMOND                                LENGTH: Short

TOO MANY WINNING LOTTO'S JACKPOT . . .

The Virginia Lottery had to dip into its savings twice last month to come up with enough money to ensure the minimum $1 million jackpot for the Lotto game.

Paula Otto, a lottery spokeswoman, said it was the first time in the lottery's five years that savings were used to fund jackpots. She said October was a good month for lottery players. In the final three Lotto drawings of October, there were four winners.

Another problem is low interest rates paid on the annuities used to fund the jackpots.

"It used to take us $1.3 million in ticket sales to make a million-dollar jackpot. Now, it takes $1.6 million," Otto said.

On Wednesday, Oct. 20, the lottery had to pitch in $100,000 to assure that the $1 million jackpot would be met. Three days later, the jackpot needed $25,000.

Otto said the lottery expects to turn over $300 million to the state this fiscal year. - Associated Press

by CNB