Financial Literacy for Lottery PlayersHoosier Lottery Case Study

Indiana, USA

Confidential & Proprietary

Overview• Gain insight into the appropriate role of the

gaming industry in promoting financial literacy

• Opportunity to review & critique the Hoosier Lottery’s evaluation the program.

• Gain insight into concept of shared value and the importance of proactive stakeholder engagement

Confidential & Proprietary

Show of hands…• Who knows what “Hoosier” means?

• Who knows the percentage of adults on average that use a budget?

• How many people in the room feel that it’s appropriate for the gaming industry to produce and promote financial literacy?

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About the Hoosier Lottery• Insert logos

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Why Financial Literacy• Partnership with local stakeholders

• Audience: Lottery winners, players, Ivy Tech students

• Strategy: Helping winners through life changing event, general education on budgeting for entertainment expense

• Launch and support

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Course Content

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Measurement & KPIs• Current Metrics/Monitoring: – 626 registrations– 6% completion rate– Qualitative analysis on the feedback generated by

players, winners, and the general public on the usefulness of the content.

• Future Metrics/Monitoring: All of the above plus results of survey

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Completion Rate by Module

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Stakeholder Feedback: Players

• Liked:• The words “invitation to learn” was used. Made it feel special and not like a

requirement or demand like a “teacher hitting you with a plastic ruler”• Getting a certificate, felt like a special accomplishment• Being able to take it “at my leisure”• That it promoted the Hoosier Lottery as “socially aware”• That it was free for anyone

• Disliked:• Videos hard to understand - felt accent was distracting• Questions in surveys were too repetitive and easy• Felt like “Final Literacy” wording was intimidating and sounded “hoity-toity” • Too intellectual focused.

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Stakeholder Feedback: Treatment Community

• Suggested more promotion of the program.

• Called it “Good corporate citizenship”

• Suggested adding information about the program on tickets.

• Praised the concept and asked for brochures to hand out at future events.

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What does research say?• There is a need for more research specific to financial literacy

as a responsible gaming tool.

• “Cokely and Kelley (2009) found that higher levels of quantitative reasoning resulted in better decisions involving risk, specifically lotteries and gambling.” – N=80 undergraduate psychology majors

• Informed player choice – generally, players that have tools to make wise choices stick to them.

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Lessons Learned• Need lottery-specific data: Survey tool

• Re-launch with bigger PR push

• Inserting stakeholder feedback into the changes

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Questions?

1. Open New Horizons app2. Select the Agenda button3. Select This Session4. Select Take Survey at the bottom

To provide session feedback:

If you are unable to download the app, please see one of our conference hosts located just outside the room.