Arkansas Lottery Gave 20 Cents on the Dollar to Scholarships in April
Today the Arkansas Lottery posted its financial report for the month of April.
According to the report, the Arkansas Lottery took in $38.7 million last month, but paid only $7.8 million to scholarships–roughly 20 cents of every dollar it made.
These figures are well below the national average. The typical state lottery pays at least 30% of its gross revenue for its intended purpose. The Arkansas Lottery gave only 20% of its gross revenue to scholarships last month.
Overall this fiscal year, the Arkansas Lottery has spent about 17.4% of its revenue on scholarships. By contrast, the Lottery has spent 68% of its revenue on prizes.
Below is a month-by-month breakdown of the Lottery’s figures.
Month | Gross Lottery Revenue | Paid to Scholarships | % Gross Revenue |
July | 38,237,293.92 | 8,714,386.39 | 22.8% |
August | 35,091,022.09 | 5,498,714.86 | 15.7% |
September | 33,113,391.64 | 5,773,076.42 | 17.4% |
October | 34,061,993.14 | 5,165,040.54 | 15.2% |
November | 37,042,079.72 | 6,570,979.51 | 17.7% |
December | 35,352,159.35 | 4,596,532.22 | 13.0% |
January, 2017 | 37,062,291.39 | 7,947,546.21 | 21.4% |
February | 41,176,854.60 | 6,698,099.62 | 16.3% |
March | 43,405,541.56 | 6,204,704.75 | 14.3% |
April | 38,671,617.14 | 7,845,827.56 | 20.3% |
Total | $373,214,244.55 | $65,014,908.08 | 17.4% |