Montana Lottery Financial Statements (Unaudited) March 31, 1992

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Tickets sold in advance for future drawings are recorded as deferred revenue until such time as the tickets become valid for the most current drawing.
Free Tickets. The Montana Lottery's instant games award free tickets as prizes. Net lottery ticket revenue does not include the value of free tickets given away and free plays won. The face value of these free tickets distributed approximated $329,708 for the quarter ended March 31, 1992.
Instabucks . Instabucks are a Lottery coupon good, upon re
...demption, for a lottery ticket. Instabucks, used to stimulate lottery ticket sales, are usually given away for promotions, retailer clerk incentive programs, and advertising trade-outs. The lottery tickets distributed resulting from Instabuck redemptions are reflected as a reduction in revenue. The related prize expense and ticket cost are reclassified as an advertising expense. For the quarter ended March 31 1992, Instabuck redemptions resulted in a revenue reduction of $88,870 and a prize expense reclassification of $48,823.

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