According to financial reports published by the Arkansas Lottery this morning, the Arkansas Lottery gave 22.8% of its revenue to college scholarships last month.
The report shows the Arkansas Lottery took in $38,237,293.92, and paid $8,714,386.39 to scholarships.
Sadly, the fact the Arkansas Lottery set aside nearly 23% of its revenue last month for scholarships makes July, 2016, one of the Lottery’s better months as far as scholarships go.
The report shows nearly 64% of the Arkansas Lottery’s revenue last month (about $24.3 million) went to prizes.
In Fiscal Year 2016, which ended last June, the Arkansas Lottery spent roughly 18.7% of its revenue on scholarships; about 68% of its revenue went to prizes.
Below is a breakdown of the Arkansas Lottery’s finances since July, 2015.
|Month||Gross Lottery Revenue||Paid to Scholarships||% Gross Revenue|