Video: AR Lottery Still a Failure

April 30, 2019 | Posted in Arkansas Lottery, Video | By

At 16-17 cents on the dollar, the Arkansas Lottery’s scholarship budget is an abysmal failure.

Watch this video to learn more.

Arkansas Lottery Still a Failure: March Report

April 26, 2019 | Posted in Arkansas Lottery | By

Earlier this month the Arkansas Lottery released its financial report for March.

The report shows the Arkansas Lottery took in nearly $52 million, but paid out only a little over $8.5 million for college scholarships — about 16.5% of all the money it made.

For perspective, the typical state lottery gives education programs about 30% of the money it makes. Louisiana’s lottery spends 35%.

During the recent legislative session, lawmakers rejected two proposals that would have incrementally increased the percentage of lottery revenue students receive to 25% by the year 2025.

Below is a breakdown of lottery revenue and scholarship spending so far this fiscal year.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July $42,413,352.70 $5,066,628.73 11.9%
August 40,343,279.62 6,175,998.40 15.3%
September 35,198,809.72 7,783,450.82 22.1%
October 57,575,285.62 11,259,040.31 19.6%
November 37,700,016.00 6,821,411.01 18.1%
December 45,859,642.73 6,650,791.54 14.5%
January, 2019 40,574,813.28 7,848,495.62 19.3%
February 41,060,111.75 8,198,257.31 20.0%
March 51,988,380.67 8,552,307.04 16.5%
Total $392,713,692.09 $68,356,380.78 17.4%

The One Thing the Arkansas Lottery Needs to Do to Increase Funding for College Scholarships

March 11, 2019 | Posted in Arkansas Lottery | By

On Friday the Arkansas Lottery released its financial report for the month of February.

The Arkansas Lottery grossed more than $41 million, but gave scholarships less than $8.2 million — just 20 cents out of every dollar the Lottery made.

The Arkansas Lottery consistently has paid out pathetic sums to college scholarships since Day One.

While the average state lottery gives about 30% of its gross revenue to state programs, Arkansas’ gives about 17% – 18%. As a result, college scholarship funding never has lived up to the promises made when the Lottery came to the state a decade ago.

But today the Arkansas Department of Finance and Administration issued a fiscal impact statement confirming that the Lottery Office only has to do one thing to provide more money for college scholarships: Give a larger percentage of its gross revenue to the state’s Academic Challenge Scholarship fund.

The report was issued in response to S.B. 387, which requires the Lottery to give 25% of its gross revenue to college scholarships by Fiscal Year 2025.

According to the report, if this bill passes, scholarship funds will increase from $99.9 million next year to $124.9 million by 2025.

Below is a breakdown of lottery revenue and scholarship funding so far this fiscal year.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July $42,413,352.70 $5,066,628.73 11.9%
August 40,343,279.62 6,175,998.40 15.3%
September 35,198,809.72 7,783,450.82 22.1%
October 57,575,285.62 11,259,040.31 19.6%
November 37,700,016.00 6,821,411.01 18.1%
December 45,859,642.73 6,650,791.54 14.5%
January, 2019 40,574,813.28 7,848,495.62 19.3%
February 41,060,111.75 8,198,257.31 20.0%
Total $340,725,311.42 $59,804,073.74 17.6%