The People’s Boledo: Lottery reform yields $17 Million in public profits

Published by [email protected] at May 12, 2025

Posted: Monday, May 12, 2025. 7:32 pm CST.

By Breaking Belize News Staff: Belize’s iconic national lottery, Boledo, has been radically transformed under government management—turning from a private monopoly into a public profit engine, Prime Minister John Briceño declared in his budget presentation on Monday morning in Belmopan. According to Prime Minister Briceño, the Belize Government Lotteries Ltd. generated $111.2 million in gross sales from November 2023 to November 2024, with net profits of nearly $17 million.

Previously operated by Brads Gaming Company, the Boledo yielded just $2.5 million in license fees to the government. Under public ownership, that figure has multiplied six-fold, with all net earnings reinvested into national health insurance, sports programs, and charitable organizations.

“This is exactly what we meant by turning promise into performance,” Briceño declared. “We took back the Boledo for the people—and now the people are finally benefiting.”

The payout ratio to players remains high—70% of ticket revenue goes back to winners. Operational costs were kept below 10% of gross revenue, allowing the bulk of profits to support public goods. The success is being hailed as a model for how strategic state control over key revenue sources can yield social dividends.

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