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%
|
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