Lotteries were first introduced in the state of Maryland in the year 1973. Since then, the business has registered continuous growth in terms of revenue and contribution to the state treasury in the form of taxes. The funds generated are used to support state programs and services to benefit the citizens of Maryland.
The business has achieved the purpose of building a positive image, which is evident from the ever-increasing number of Marylanders buying lottery products. It has spread its business everywhere and now covers almost all of Maryland. It has also formed partnerships with private businesses to increase the reach of its products.
The business has registered continues growth in revenues for the last seven years. Revenue generated in the fiscal year ending 2004 was $ 1.4 million. The total contribution to state funded programs in the year 2005 was $458 million, an increase of almost $ 14 million. The lottery sellers offer different products to suit the needs of individual players. Customers can buy MEGA Millions lottery tickets or pick up scratch-off tickets that run from $1 to $20.
Close to 50 percent of moneylenders bought lotteries during the year 2004-2005 from around 3600 retailers spread all across the state of Maryland. The lotteries are a success because operating cost is just around 5 percent of total sales, which is very low.
Lotteries in Maryland have contributed to the state's growth and development. They have also created employment opportunities for Marylanders in areas of retailing and marketing.The lottery business is expected to grow further in the coming years. It is a source of much needed funds for the state government. The direct and indirect income generated forms a part of the total economy of Maryland.
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