Lottery Gave 16 Cents on the Dollar to Scholarships in February

March 10, 2017 | Posted in Arkansas Lottery | By

This afternoon the Arkansas Lottery posted its financial report for the month of February.

According to the report, the Arkansas Lottery grossed nearly $41.2 million, but gave less than $6.7 million to scholarships–about 16 cents of every dollar it made.

A new bill filed last week by Sen. Joyce Elliott (D-Little Rock) would require the Lottery to set aside at least 25% of its gross revenue for scholarships; under that bill, the Arkansas Lottery would have given nearly $10.3 million to scholarships in February.

Unfortunately, the Arkansas Lottery continues to budget a paltry amount of money for scholarships each month. Below is a breakdown of the numbers for Fiscal Year 2017.

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%
Total $291,137,085.85 $50,964,375.77 17.5%