“What would you rather have: 35 percent of a $100,000 or 25 percent of $500,000?” he asked.
Redburn indicated the commission will continue to request a decrease of the 35 percent cap from lawmakers.
“Our goal is to maximize profits for education, and that's what we intend to do,” Redburn said.
Redburn also announced that the lottery now has exceeded $500 million in contributions to education since its inception.
Finks reported that 11 weeks into the new fiscal year all lottery tickets including instant games and draw games have seen a 6 percent increase in sales over the first 11 weeks of 2012.
“We've had some nice jackpot runs,” Finks said. “We're in one right now.”
The Powerball jackpot is up to $149 million.
But ticket sales still have not recovered to the rates they were at in 2008 and 2009.
Finks said some of the efforts to reverse the trend in declining ticket sales have helped. The price of Powerball tickets increased to $2 in an effort to create larger jackpots, and the state added Mega Millions in January 2010.
“We're seeing the impact of that in our sales,” Finks said.