Last month the Arkansas Lottery released its financial report for the month of November.
The report shows the Arkansas Lottery took in $37.7 million, but paid out $6.8 million for scholarships — about 18 cents out of every dollar the Arkansas Lottery made in November.
This is nothing new. Since Day One, the Arkansas Lottery has failed to budget a meaningful amount of money for college scholarships, even though Arkansans were promised that a statewide lottery would provide at least $100 million in scholarship funding each year.
As of right now, the Arkansas Lottery is on track to pay out roughly $85 million in college scholarships in Fiscal Year 2019.
Below is a breakdown of lottery revenue and scholarship proceeds 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% |
November | 37,700,016.00 | 6,821,411.01 | 18.1% |
Total | $213,230,743.66 | $37,106,529.27 | 17.4% |