For the first time in its history, the Iowa Lottery will shift part of its financial risk to a scratch ticket vendor. Beginning in January, the Lottery will work exclusively with one company to print its scratch tickets — and that company will share in both the potential gains and losses.
Lottery CEO Matt Strawn says the selected vendor, Scientific Games, won the contract through a competitive bidding process and will now operate under a performance-based agreement.
“If they exceed their performance goals, they are incented with a small bonus. If they miss their projected annual performance goals on sales, there is a small penalty,” Strawn explains.
Until now, the Iowa Lottery carried all the risk in choosing which scratch games to develop and bring to market. Strawn says the new arrangement allows the Lottery to tap more directly into the vendor’s expertise.
“This allows the Iowa Lottery to better leverage the experience and expertise of its scratch ticket printing partner,” he says.
Despite the shift, the state will continue to have full authority over game selection and design.
“The state of Iowa still has the ultimate sign-off on the annual product plan to ensure it meets revenue goals and that we’re managing the portfolio responsibly,” Strawn says.
Scratch tickets were the first products ever sold by the Iowa Lottery and remain its strongest category, accounting for 23% of total sales.
Wednesday December 3
ISU Men’s Basketball vs Alcorn State 6 PM Pregame 7 PM Tip-off KIOW 107.3 FM
Waldorf Women’s Basketball vs St. Ambrose 5:45 Pregame 6 PM Tip-off B103
Thursday December 4
Clear Lake Basketball Doubleheader at Charles City 5:45 PM Pregame 6 PM Tip-off 103.7 The Fox and Clear Lake Video Stream
Garner-Hayfield-Ventura Basketball Doubleheader vs West Fork 6 PM Pregame 6:15 PM Tip-off GHV Video Stream
Belmond-Klemme Basketball Doubleheader at Bishop Garrigan 6 PM Pregame 6:15 Tip-off Belmond-Klemme Video Stream
Forest City Boys Wrestling at Central Springs with Eagle Grove 6 PM KIOW 107.3 FM and Forest City Video Stream
West Hancock Boys Wrestling Triangular with St Ansgar and West Fork 6 PM B103 and West Hancock Video Stream
Friday December 5
Forest City Basketball Doubleheader at Garner-Hayfield-Ventura 6 PM Pregame 6:15 PM Tip-off KIOW 107.3 FM, Forest City Video Stream and GHV Video Stream
Lake Mills Basketball Doubleheader vs Belmond-Klemme 6 PM Pregame 6:15 PM Tip-off Lake Mills and Belmond-Klemme Video Stream
West Hancock Basketball Doubleheader at Eagle Grove 6 PM Pregame 6:15 PM Tip-off B103 and West Hancock Video Stream
Clear Lake Girls Basketball vs Hampton-Dumont-CAL 7:15 PM Pregame 7:30 PM Tip-off 103.7 The Fox and Clear Lake Video Stream
Saturday December 6
ISU Men’s Basketball at Purdue 10:30 AM Pregame 11 AM Tip-off KIOW 107.3 FM
West Hancock Basketball Doubleheader vs Clarion-Goldfield-Dows 4 PM Pregame 4:15 PM Tip-off B103 and West Hancock Video Stream
Sunday December 7
ISU Women’s Basketball vs Northern Illinois 12:30 PM Pregame 1 PM Tip-off KIOW 107.3 FM