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 |
July, 2015 | 31,665,651.14 | 5,784,683.09 | 18.3% |
August | 31,265,177.55 | 5,490,094.00 | 17.6% |
September | 36,134,389.63 | 6,624,967.11 | 18.3% |
October | 35,261,533.80 | 6,020,642.32 | 17.1% |
November | 32,226,599.28 | 5,725,139.09 | 17.8% |
December | 38,670,746.09 | 6,425,754.66 | 16.6% |
January, 2016 | 58,746,249.00 | 13,831,359.75 | 23.5% |
February | 40,790,144.05 | 4,474,356.06 | 11.0% |
March | 40,579,421.05 | 5,758,892.84 | 14.2% |
April | 37,516,802.47 | 7,392,837.00 | 19.7% |
May | 38,485,146.05 | 6,606,164.94 | 17.2% |
June | 34,983,951.24 | 11,249,220.37 | 32.2% |
July, 2016 | 38,237,293.92 | 8,714,386.39 | 22.8% |
Total | $494,563,105.27 | $94,098,497.62 | 19.0% |