The Arkansas Lottery’s prize budget for lottery players is more than four times larger than its budget for college scholarships, a new report indicates.
The Arkansas Lottery’s financial report for the month of October shows since July 1 the Arkansas Lottery has spent nearly $134.1 million on prizes, but it has spent less than $32.6 million on students.
All told, only about 17% of the Arkansas Lottery’s budget actually funds college scholarships, but nearly 71% of its budget pays for prizes for lottery players.
As we have written repeatedly, the typical state-run lottery budgets approximately 60% of its revenue for prizes and 30% for education.
The Arkansas Lottery could pay millions of dollars more to scholarships if it simply would reduce its prize budget and raise its scholarship budget — plain and simple.
Below is a breakdown of Lottery revenue and prize spending since Fiscal Year 2021 began on July 1.
|Month||Gross Lottery Revenue||Paid to Scholarships||% Gross Revenue|
|Month||Gross Lottery Revenue||Total Prizes||% Going to Prizes|