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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?
Confidential & Proprietary
About the Hoosier Lottery• Insert logos
Confidential & Proprietary
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
Confidential & Proprietary
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
Confidential & Proprietary
Completion Rate by Module
Confidential & Proprietary
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.
Confidential & Proprietary
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.
Confidential & Proprietary
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.
Confidential & Proprietary
Lessons Learned• Need lottery-specific data: Survey tool
• Re-launch with bigger PR push
• Inserting stakeholder feedback into the changes
Confidential & Proprietary
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.