Arkansas Lottery Spends 19 Cents of Every Dollar on Scholarships in FY 2017

July 10, 2017 | Posted in Arkansas Lottery | By

Today the Arkansas Lottery released its final monthly report for Fiscal Year 2017.

The report shows the Arkansas Lottery made a little over $38.5 million in June; of that money, roughly $6.8 million was spent on college scholarships. Nearly $6.4 million extra in scholarship funding came from the Lottery’s unclaimed prizes account, which is funded with prize money that is not claimed by lottery players.

June marks the end of Fiscal Year 2017 at the Arkansas Lottery. Since July of 2016, the Lottery has made nearly $450 million, but has spent less than $85.3 million on scholarships–roughly 19 cents of every dollar it made.

To put those numbers into perspective, the Louisiana Lottery is required by law to spend at least 35% of its revenue on education. As of March 31, 2017, the Louisiana Lottery had made nearly $342.2 million, and it had set aside more than $120 million for education.

Louisiana’s Lottery often makes less money than Arkansas’, but it pays out more for education, because Louisiana’s state law requires a minimum percentage of the Louisiana Lottery’s revenue to go to education. In Arkansas, however, students get whatever money is leftover after the Lottery has paid its other bills.

Below is a breakdown of the Arkansas Lottery’s figures for Fiscal Year 2017.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July, 2016 38,237,293.92 8,714,386.39 22.8%
August 35,091,022.09 5,498,714.86 15.7%
September 33,113,391.64 5,773,076.42 17.4%
October 34,061,993.14 5,165,040.54 15.2%
November 37,042,079.72 6,570,979.51 17.7%
December 35,352,159.35 4,596,532.22 13.0%
January, 2017 37,062,291.39 7,947,546.21 21.4%
February 41,176,854.60 6,698,099.62 16.3%
March 43,405,541.56 6,204,704.75 14.3%
April 38,671,617.14 7,845,827.56 20.3%
May 38,185,263.61 7,068,770.18 18.5%
June 38,517,227.85 13,193,652.18 34.3%
Total $449,916,736.01 $85,277,330.44 19.0%

Photo Credit: Mega Millions lottery tickets, by msspider66.

Lottery Scholarship Revenue Drops in May

June 12, 2017 | Posted in Arkansas Lottery | By

On Friday the Arkansas Lottery released its monthly financial report for May.

According to the report, the Arkansas Lottery took in over $38 million in May, but paid out roughly $7 million in scholarships–about 18 cents for every dollar it made.

Overall, Lottery revenue and scholarship funding have declined since April.

There’s simply no excuse for the Arkansas Lottery’s consistently low scholarship budget. If you would like to know the one thing the Arkansas Lottery could do to pay more to scholarships right now–even if lottery revenue dropped by tens of millions of dollars–click here.

Below is a breakdown of the Lottery’s financial figures for this fiscal year.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July 38,237,293.92 8,714,386.39 22.8%
August 35,091,022.09 5,498,714.86 15.7%
September 33,113,391.64 5,773,076.42 17.4%
October 34,061,993.14 5,165,040.54 15.2%
November 37,042,079.72 6,570,979.51 17.7%
December 35,352,159.35 4,596,532.22 13.0%
January, 2017 37,062,291.39 7,947,546.21 21.4%
February 41,176,854.60 6,698,099.62 16.3%
March 43,405,541.56 6,204,704.75 14.3%
April 38,671,617.14 7,845,827.56 20.3%
May 38,185,263.61 7,068,770.18 18.5%
Total $411,399,508.16 $72,083,678.26 17.5%

Arkansas Lottery Gave 20 Cents on the Dollar to Scholarships in April

May 10, 2017 | Posted in Arkansas Lottery | By

Today the Arkansas Lottery posted its financial report for the month of April.

According to the report, the Arkansas Lottery took in $38.7 million last month, but paid only $7.8 million to scholarships–roughly 20 cents of every dollar it made.

These figures are well below the national average. The typical state lottery pays at least 30% of its gross revenue for its intended purpose. The Arkansas Lottery gave only 20% of its gross revenue to scholarships last month.

Overall this fiscal year, the Arkansas Lottery has spent about 17.4% of its revenue on scholarships. By contrast, the Lottery has spent 68% of its revenue on prizes.

Below is a month-by-month breakdown of the Lottery’s figures.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July 38,237,293.92 8,714,386.39 22.8%
August 35,091,022.09 5,498,714.86 15.7%
September 33,113,391.64 5,773,076.42 17.4%
October 34,061,993.14 5,165,040.54 15.2%
November 37,042,079.72 6,570,979.51 17.7%
December 35,352,159.35 4,596,532.22 13.0%
January, 2017 37,062,291.39 7,947,546.21 21.4%
February 41,176,854.60 6,698,099.62 16.3%
March 43,405,541.56 6,204,704.75 14.3%
April 38,671,617.14 7,845,827.56 20.3%
Total $373,214,244.55 $65,014,908.08 17.4%