The Arkansas Lottery recently released its monthly financial report for March 2021.
The report reveals that the Arkansas Lottery spent only 12% of its gross revenue on scholarships — despite bringing in a record-setting $67.9 million in March.
More than 70% of the Lottery’s revenue went to prizes instead.
For perspective, the typical state lottery budgets approximately 25% – 30% of its revenue for education and about 60% for prizes.
S.B. 649 by Sen. Charles Beckham (R – McNeil) and Rep. Richard Womack (R – Arkadelphia) would require the Arkansas Lottery to increase the percentage of its revenue budgeted for scholarships to 25% over the next six years. This would bring the Arkansas Lottery up to the standards of the typical state-run lottery — and it most likely would provide millions of additional dollars in scholarship funding.
Below is a breakdown of Lottery revenue and prize spending for Fiscal Year 2021.
|Month||Gross Lottery Revenue||Paid to Scholarships||% Gross Revenue|
|Month||Gross Lottery Revenue||Total Prizes||% Going to Prizes|