Today the Arkansas Lottery released its figures for the month of April, 2016.
The report shows lottery revenue came in at around $37.5 million, and the Lottery put nearly $7.4 million toward college scholarships–about 19.7% of its total revenue for the month of April.
Sadly, 19.7% is one of the Arkansas Lottery’s better figures. So far this fiscal year we have seen months in which only 11% or 14% of the Lottery’s gross revenue went to scholarships. By contrast, the average state lottery allocates closer to 30% of gross revenue for education; our neighbors to the south in Louisiana allocate 35%.
What’s striking, however, is in looking at the report, the Arkansas Lottery actually spent $458,718.44 more than it made in the month of April in order to achieve that 19.7% figure. Had the Arkansas Lottery not spent more money than it took in over the course of the month, scholarship funding would have been about $6,934,118.56 (about 18.5% of Lottery revenue for the month).
Below is a breakdown of Lottery sales and scholarship funding for Fiscal Year 2016, which began last July and ends next month.
So far the Lottery has put about $67.5 million toward scholarships–about 17.6% of its gross revenue– since last July.
Based on these figures, we project the Arkansas Lottery will allocate somewhere around $85 million for scholarships, total, this fiscal year–once again, far less than the $100 million lottery proponents claimed time and time again a state-run lottery would provide in scholarship funding each year.
Month |
Gross Lottery Revenue |
Paid to Scholarships |
% Gross Revenue |
July |
31,665,651.14 |
5,784,683.09 |
18.3% |
August |
31,265,177.55 |
5,490,094.00 |
17.6% |
September |
36,134,389.63 |
6,624,967.11 |
18.3% |
October |
35,261,533.80 |
6,020,642.32 |
17.1% |
November |
32,226,599.28 |
5,725,139.09 |
17.8% |
December |
38,670,746.09 |
6,425,754.66 |
16.6% |
January, 2016 |
58,746,249.00 |
13,831,359.75 |
23.5% |
February |
40,790,144.05 |
4,474,356.06 |
11.0% |
March |
40,579,421.05 |
5,758,892.84 |
14.2% |
April |
37,516,802.47 |
7,392,837.00 |
19.7% |
Total |
$382,856,714.06 |
$67,528,725.92 |
17.6% |
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