Arkansas Lottery Continues to Give Paltry Funding to Scholarships

January 11, 2019 | Posted in Arkansas Lottery | By

Yesterday the Arkansas Lottery released its financial report for the month of December.

The report shows the Arkansas Lottery took in nearly $45.9 million last month, but gave college scholarships less than $6.7 million — 14.5% of all the money the Lottery made. Compare that with states like Louisiana that allocate 35% of their lottery’s revenue for education.

Since July the Arkansas Lottery has given scholarships less than 17 cents of every dollar it made.

For nearly ten years the Arkansas Lottery has demonstrated time and again that scholarship funding is not its highest priority. Things like administrative costs and contracts have continued to take precedence over increasing the budget for Arkansas’ students.

Below is a breakdown of lottery revenue 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%
Total $259,090,386.39 $43,757,320.81 16.9%

AR Lottery Continues to Pay Pennies on the Dollar to Scholarships

January 4, 2019 | Posted in Arkansas Lottery | By

Last month the Arkansas Lottery released its financial report for the month of November.

The report shows the Arkansas Lottery took in $37.7 million, but paid out $6.8 million for scholarships — about 18 cents out of every dollar the Arkansas Lottery made in November.

This is nothing new. Since Day One, the Arkansas Lottery has failed to budget a meaningful amount of money for college scholarships, even though Arkansans were promised that a statewide lottery would provide at least $100 million in scholarship funding each year.

As of right now, the Arkansas Lottery is on track to pay out roughly $85 million in college scholarships in Fiscal Year 2019.

Below is a breakdown of lottery revenue and scholarship proceeds 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%
Total $213,230,743.66 $37,106,529.27 17.4%

AR Lottery Gives Scholarships Less Than 20 Cents of Every Dollar in October

November 13, 2018 | Posted in Arkansas Lottery | By

Last week the Arkansas Lottery released its financial reports for the month of October.

The reports show the Arkansas Lottery took in more than $57.5 million last month. However it paid less than $11.3 million for scholarships — less than 20 cents out of every dollar it made.

State lotteries prey on the poor and pull tens of millions of dollars out of the state economy.

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%
Total $175,530,727.66 $30,285,118.26 17.3%