Category: Arkansas Lottery

Arkansas Lottery Gives Scholarships Pennies on the Dollar: May Report

Last week the Arkansas Lottery released its financial report for the month of May.

The report indicates the Arkansas Lottery grossed more than $57.6 million last month, but paid less than $7.6 million to college scholarships — about 13 cents out of every dollar the Arkansas Lottery made. The Lottery budgeted 61.6% of its revenue for prizes.

So far this fiscal year most of the Arkansas Lottery’s revenue — 68% — has gone to prizes. Only 15.8% has gone to college scholarships.

Below is a breakdown of Lottery revenue and scholarship funding so far this fiscal year.

Scholarship Spending

Month	Gross Lottery Revenue	Paid to Scholarships	% Gross Revenue
July	$49,780,369.99	$8,592,573.93	17.3%
August	49,672,105.04	7,862,917.44	15.8%
September	47,501,224.72	7,691,576.99	16.2%
October	42,615,839.96	8,447,337.00	19.8%
November	43,115,514.84	8,207,598.88	19.0%
December	50,329,644.30	5,970,922.53	11.9%
January, 2021	62,994,737.27	10,913,192.32	17.3%
February	42,099,444.22	5,592,370.95	13.3%
March	67,975,057.80	8,341,917.38	12.3%
April	65,520,420.72	12,299,938.64	18.8%
May	57,605,418.67	7,588,364.37	13.2%
Total	$579,209,777.53	$91,508,710.43	15.8%

Prize Spending

Month	Gross Lottery Revenue	Total Prizes	% Going to Prizes
July	$49,780,369.99	$35,641,717.48	71.6%
August	49,672,105.04	35,023,856.83	70.5%
September	47,501,224.72	33,422,556.14	70.4%
October	42,615,839.96	29,995,072.50	70.4%
November	43,115,514.84	30,548,473.72	70.9%
December	50,329,644.30	33,661,170.75	66.9%
January, 2021	62,994,737.27	41,745,065.17	66.3%
February	42,099,444.22	27,955,512.19	66.4%
March	67,975,057.80	47,945,090.78	70.5%
April	67,975,057.80	46,942,442.72	69.1%
May	65,520,420.72	40,336,944.48	61.6%
Total	$589,579,416.66	$403,217,902.76	68.4%

READ MORE

State Lottery Still Overspending on Prizes, Undercutting Scholarships

The Arkansas Lottery recently released its financial report for the month of April.

The report shows the Arkansas Lottery took in more than $65.5 million last month. However, less than $12.3 million went to scholarships — about 19 cents out of every dollar the Arkansas Lottery made.

The report also shows the Arkansas Lottery spent nearly $47 million on prizes for lottery players. That’s approximately 71.6% of the lottery’s revenue.

For perspective, the typical state lottery budgets approximately 25% – 30% of its revenue for education and about 60% for prizes.

Recently, S.B. 649 by Sen. Charles Beckham (R – McNeil) and Rep. Richard Womack (R – Arkadelphia) would have required the Arkansas Lottery to increase the percentage of its revenue budgeted for scholarships to 25% over the next six years. 

This would have brought the Arkansas Lottery up to the standards of the typical state-run lottery — and it most likely would have provided millions of additional dollars in scholarship funding.

However, the legislation failed to pass, and the Arkansas Lottery is still operating irresponsibly.

Click here to see the Arkansas Lottery’s April financial reports.

READ MORE

Despite Banner Month, Lottery Gives Little to Scholarships, Most to Prizes

The Arkansas Lottery recently released its monthly financial report for March 2021.

The report reveals that the Arkansas Lottery spent only 12% of its gross revenue on scholarships — despite bringing in a record-setting $67.9 million in March.

More than 70% of the Lottery’s revenue went to prizes instead.

For perspective, the typical state lottery budgets approximately 25% – 30% of its revenue for education and about 60% for prizes.

S.B. 649 by Sen. Charles Beckham (R – McNeil) and Rep. Richard Womack (R – Arkadelphia) would require the Arkansas Lottery to increase the percentage of its revenue budgeted for scholarships to 25% over the next six years. This would bring the Arkansas Lottery up to the standards of the typical state-run lottery — and it most likely would provide millions of additional dollars in scholarship funding.

Below is a breakdown of Lottery revenue and prize spending for Fiscal Year 2021.

Scholarship Spending

Month	Gross Lottery Revenue	Paid to Scholarships	% Gross Revenue
July	$49,780,369.99	$8,592,573.93	17.3%
August	49,672,105.04	7,862,917.44	15.8%
September	47,501,224.72	7,691,576.99	16.2%
October	42,615,839.96	8,447,337.00	19.8%
November	43,115,514.84	8,207,598.88	19.0%
December	50,329,644.30	5,970,922.53	11.9%
January, 2021	62,994,737.27	10,913,192.32	17.3%
February	42,099,444.22	5,592,370.95	13.3%
March	67,975,057.80	8,341,917.38	12.3%
Total	$456,083,938.14	$71,620,407.42	15.7%

Prize Spending

Month	Gross Lottery Revenue	Total Prizes	% Going to Prizes
July	49,780,369.99	35,641,717.48	71.6%
August	49,672,105.04	35,023,856.83	70.5%
September	47,501,224.72	33,422,556.14	70.4%
October	42,615,839.96	29,995,072.50	70.4%
November	43,115,514.84	30,548,473.72	70.9%
December	50,329,644.30	33,661,170.75	66.9%
January,2021	62,994,737.27	41,745,065.17	66.3%
February	42,099,444.22	27,955,512.19	66.4%
March	67,975,057.80	47,945,090.78	70.5%
Total	456,083,938.14	315,938,515.56	69.3%

READ MORE