Financial reports show that the Arkansas Lottery still is allocating a paltry amount for college scholarships. Since the state’s new fiscal year started last July, only 15 – 16 cents out of every dollar the Arkansas Lottery made actually went to scholarships. However, nearly 69% of the Lottery’s revenue has gone to prizes for lottery […]
Lottery Spends Almost 70% of Revenue on Prizes in Fiscal Year 2021
In June the Arkansas Lottery wrapped up Fiscal Year 2021. Reports released Monday indicate that, all told, nearly 70% of the Arkansas Lottery’s revenue went to prizes for lottery players in the past fiscal year. Seventeen percent went to college scholarships. For perspective, the typical state lottery budgets approximately 25% – 30% of its revenue […]
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 […]