September 11, 2018 | Posted in Arkansas Lottery | By

Yesterday the Arkansas Lottery posted its financial reports for the month of August.

The reports show the Arkansas Lottery made more than $40.3 million last month, but paid out less than $6.2 million for scholarships. That means students received about 15 cents of every dollar the Lottery made in August.

For perspective, our neighbors in Louisiana budget at least 35% of their lottery’s revenue for education.

Although it is too early to tell, if the last two months are any indicator, the Arkansas Lottery will pay out somewhere around $70 – $80 million in college scholarships in Fiscal Year 2019 — well below the $100 million lottery proponents told voters in 2008 that students would get every year.

Below is a breakdown of Lottery figures 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%
Total $82,756,632.32 $11,242,627.13 13.6%

Photo Credit: Roman Oleinik [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0) or GFDL (http://www.gnu.org/copyleft/fdl.html)], from Wikimedia Commons

Jerry is the founder and president of Family Council. He began Family Council in 1989 after a successful effort to amend the Arkansas Constitution to prevent the use of public funds for abortions. He and his wife reside in Little Rock. They have four sons.