Tattersalls Lotteries Extracts $1.6bn From Aussies in 2011
You look at those big jackpots, dreaming of how you could win millions. Well, stop for a moment and think about just how much Tattersalls are extracting from everyday Aussies like you and mean as they peddle these promises.
Total revenue for Tattersalls Lottery operations in Australia for the 2011 Financial Year was a whopping $1.6 billion. That’s right. Your $12-$20 tickets are all part of that pile.
So where does the money go? Here’s the breakdown:
Approximately $1bn has gone into government coffers – don’t expect your MP to be interested in your rights with regards to Tatts lottery operations when there’s this much on the line.
Around $400m has gone into ‘operating costs’ – this includes payout to players, but also the company’s operating costs (machines, staff, etc.). Put into context, even if over $300m of this money was returned to players, that’s less than 20% of money from lottery games actually returned to players in prizes.
Tattersalls pocketed a profit of $175 million, after all expenses, government and player payouts, etc. Put into context, Tattersalls actually made more than 50% in clear profit dollars than all the player payouts (jackpots and first divisions, etc.) combined for the whole year.
So next time you’re thinking Tatts is going to make your ‘dreams come true’, and similarly next time you get a measely $10-$20 win on your ticket, think about how much they’re pocketing and who the real winners are.
For those interests, all of this information is presented in Tatts Annual report, which can be found here:
Tatts members really get the short end of the stick, consistently with poor odds and poor division prize payouts that could be significantly larger if they weren’t taking a hefty slice for themselves.