AR Lottery Gives Scholarships 14 Cents of Every Dollar in October

November 15, 2017 | Posted in Arkansas Lottery | By

Last week the Arkansas Lottery released its monthly report detailing revenue and expenses for October.

The Lottery reportedly took in $39.8 million, but paid less than $5.7 million to scholarships — about 14.2% of the Lottery’s revenue for the month.

Overall, the Arkansas Lottery’s income is higher than it was this time last year. Lottery revenue is up nearly $22 million compared to 2016, but scholarship funding has risen by only $2.8 million.

As we have said for years: The Arkansas Lottery’s problem is not income; it’s priorities. The Lottery needs to prioritize scholarship funding. As it stands, students get a pathetic 17 cents of every dollar the Lottery makes.

Below is a breakdown of Lottery revenue so far this fiscal year.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July $ 36,885,396.81 $ 6,661,762.99 18.1%
August 49,320,459.23 8,912,741.54 18.1%
September 36,405,731.14 6,755,333.93 18.6%
October 39,802,740.53 5,667,305.74 14.2%
Total $ 162,414,327.71 $ 27,997,144.20 17.2%

AR Lottery Posts Dismal Numbers for September

October 9, 2017 | Posted in Arkansas Lottery | By

The Arkansas Lottery gave 18.6 cents of every dollar it made in September to college scholarships, according to a report released today.

Since July, the Lottery has made $122.6 million, but has paid out $22.3 million to scholarships — a little over 18% of its total revenue.

Since 2014, the Arkansas Lottery has spent roughly 18% – 19% of its revenue on scholarships. For perspective, the average state lottery allocates 30%.

Below is a breakdown of lottery revenue so far this year.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July $36,885,396.81 $6,661,762.99 18.1%
August 49,320,459.23 8,912,741.54 18.1%
September 36,405,731.14 6,755,333.93 18.6%
Total $122,611,587.18 $22,329,838.46 18.2%

Arkansas Lottery Still Rolling Out More Gambling

October 4, 2017 | Posted in Arkansas Lottery | By

This week the Arkansas Lottery announced it is rolling out a new instant lottery game: The Big Money Multiplier.

To put it simply, this is an oversize scratch-off ticket that sells for $10 instead of the typical $1 or $2. The odds of winning a prize — such as a $10 break-even prize — are roughly 1 in 3. The odds of winning the $250,000 jackpot are 1 in 440,000.

This is the same gimmick the Lottery has used since Day One: Roll out as much gambling as possible as quickly as possible in order to bolster ticket sales. In this case, the Lottery is selling scratch-off tickets that are more expensive than most and offer larger prizes, but the odds are long, and in the end the results will be the same: Arkansans will spend — and lose — millions of dollars buying lottery tickets. As we have written before, many people gamble out of desperation, and the Arkansas Lottery preys on those people with tickets like this one.

The Lottery’s director says he hopes this new ticket will help pay for college scholarships. The truth is the Arkansas Lottery allocates 18% – 19% of its revenue for scholarship funding. For perspective, the average state lottery allocates 30%.

The Arkansas Lottery doesn’t need a new scratch-off ticket to help send students to college. It simply needs to rework its budget.

Photo Credit: Mega Millions lottery tickets, by msspider66.