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% |