Scholarship Funding Dismal, Prizes High at AR Lottery: February Report

Today the Arkansas Lottery released its financial report for the month of February.

The report shows the Arkansas Lottery took in over $40 million last month.

In spite of making more than a million dollars every single day, the Lottery still paid only $7.2 million to scholarships — less than 18 cents out of every dollar the Arkansas Lottery made.

All told, the Lottery is budgeting about 15.6% of its revenue for college scholarships this fiscal year.

However, the Arkansas Lottery continues to budget extraordinary amounts of money for prizes.

In February, the state lottery spent nearly 71% of its revenue on prizes.

For perspective, the typical state lottery spends about 30% of its revenue on education and only about 55% – 65% on prizes.

To put it simply: The Arkansas Lottery spends too much money on prizes and too little on scholarships.

Below is a breakdown of lottery revenue, scholarship budgeting, and prize spending so far this fiscal year.

Scholarship Funding

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July $41,239,173.79 $4,523,930.75 11.0%
August 40,899,086.75 4,942,736.97 12.1%
September 36,202,677.79 6,565,973.32 18.1%
October 38,932,640.23 6,318,099.21 16.2%
November 36,118,641.12 5,947,177.45 16.5%
December 46,134,469.21 6,371,983.49 13.8%
January, 2020 40,802,067.75 8,239,083.77 20.2%
February 40,670,746.71 7,233,556.77 17.8%
Total $320,999,503.35 $50,142,541.73 15.6%

Prize Budget

Month Gross Lottery Revenue Total Prizes % Going to Prizes
July 41,239,173.79 27,395,174.44 66.4%
August 40,899,086.75 27,981,278.90 68.4%
September 36,202,677.79 25,380,100.69 70.1%
October 38,932,640.23 26,836,578.14 68.9%
November 36,118,641.12 24,593,530.95 68.1%
December 46,134,469.21 32,772,295.09 71.0%
January, 2020 40,802,067.75 27,636,240.24 67.7%
February 40,670,746.71 28,772,455.23 70.7%
Total 320,999,503.35 221,367,653.68 69.0%

State Lottery Puts Up Dismal Numbers for Second Month in a Row

This week the Arkansas Lottery released its financial reports for the month of August.

The report shows that the Arkansas Lottery took in nearly $40.9 million last month, but paid less than $5 million to college scholarships — about 12% of all the money the Arkansas Lottery made.

In July, the Lottery set aside only $4.5 million for scholarships, making it one of the Lottery’s worst months since 2014.

August was one of the Arkansas Lottery’s top 20 months from the past five years when it came to gross revenue. But August was the Arkansas Lottery’s fifth worst month in the past five years when it came to college scholarships.

In other words, lottery revenue appears to be just fine, but the Lottery Office isn’t budgeting very much money for college scholarships.

The Arkansas Lottery is notorious for putting other priorities ahead of the scholarships it is supposed to fund, but the Lottery Office is only two months into Fiscal Year 2020, and already its scholarship budget is near a five-year low.

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

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July $41,239,173.79 $4,523,930.75 11.0%
August 40,899,086.75 4,942,736.97 12.1%
Total $82,138,260.54 $9,466,667.72 11.5%

Below is a look at lottery revenue and scholarship funding since Fiscal Year 2015.

Month Gross Lottery Revenue Paid to Scholarships % Gross Revenue
July, 2014 30,925,067.43 5,928,447.99 19.17%
August, 2014 31,571,412.10 5,296,965.80 16.78%
September, 2014 30,710,493.31 4,317,227.10 14.06%
October, 2014 32,959,739.29 5,939,625.59 18.02%
November, 2014 30,617,278.28 5,577,035.16 18.22%
December, 2014 34,507,731.54 5,474,318.77 15.86%
January, 2015 35,433,619.67 7,287,773.28 20.57%
February, 2015 41,770,314.46 6,161,343.01 14.75%
March, 2015 37,367,453.25 6,898,524.35 18.46%
April, 2015 33,866,970.54 5,881,005.95 17.37%
May, 2015 35,689,036.10 5,409,050.48 15.16%
June, 2015 33,815,559.59 8,278,928.14 24.48%
July, 2015 31,665,651.14 5,784,683.09 18.27%
August, 2015 31,265,177.55 5,490,094.00 17.56%
September, 2015 36,134,389.63 6,624,967.11 18.33%
October, 2015 35,261,533.80 6,020,642.32 17.07%
November, 2015 32,226,599.28 5,725,139.09 17.77%
December, 2015 38,670,746.09 6,425,754.66 16.62%
January, 2016 58,746,249.00 13,831,359.75 23.54%
February, 2016 40,790,144.05 4,474,356.06 10.97%
March, 2016 40,579,421.05 5,758,892.84 14.19%
April, 2016 37,516,802.47 7,392,837.00 19.71%
May, 2016 38,485,146.05 6,606,164.94 17.17%
June, 2016 34,983,951.24 11,249,220.37 32.16%
July, 2016 38,237,293.92 8,714,386.39 22.79%
August, 2016 35,091,022.09 5,498,714.86 15.67%
September, 2016 33,113,391.64 5,773,076.42 17.43%
October, 2016 34,061,993.14 5,165,040.54 15.16%
November, 2016 37,042,079.72 6,570,979.51 17.74%
December, 2016 35,352,159.35 4,596,532.22 13.00%
January, 2017 37,062,291.39 7,947,546.21 21.44%
February, 2017 41,176,854.60 6,698,099.62 16.27%
March, 2017 43,405,541.56 6,204,704.75 14.29%
April, 2017 38,671,617.14 7,845,827.56 20.29%
May, 2017 38,185,263.61 7,068,770.18 18.51%
June, 2017 38,517,227.85 13,193,652.18 34.25%
July, 2017 36,885,396.81 6,661,762.99 18.06%
August, 2017 49,320,459.23 8,912,741.54 18.07%
September, 2017 36,405,731.14 6,755,333.93 18.56%
October, 2017 39,802,740.53 5,667,305.74 14.24%
November, 2017 36,186,107.78 6,691,228.00 18.49%
December, 2017 44,716,219.32 6,583,355.77 14.72%
January, 2018 44,063,056.11 8,230,861.00 18.68%
February, 2018 39,389,927.57 5,947,647.50 15.10%
March, 2018 53,523,320.61 7,945,570.02 14.85%
April, 2018 42,064,194.78 7,192,997.10 17.10%
May, 2018 40,447,182.69 8,037,624.80 19.87%
June, 2018 37,685,874.97 13,364,612.64 35.46%
July, 2018 42,413,352.70 5,066,628.73 11.95%
August, 2018 40,343,279.62 6,175,998.40 15.31%
September, 2018 35,198,809.72 7,783,450.82 22.11%
October, 2018 57,575,285.62 11,259,040.31 19.56%
November, 2018 37,700,016.00 6,821,411.01 18.09%
December, 2018 45,859,642.73 6,650,791.54 14.50%
January, 2019 40,574,813.28 7,848,495.62 19.34%
February, 2019 41,060,111.75 8,198,257.31 19.97%
March, 2019 51,988,380.67 8,552,307.04 16.45%
April, 2019 43,951,257.94 8,176,383.34 18.60%
May, 2019 41,158,346.08 8,396,193.42 20.40%
June, 2019 38,413,526.87 13,482,789.59 35.10%
July, 2019 41,239,173.79 4,523,930.75 10.97%
August, 2019 40,899,086.75 4,942,736.97 12.09%

Arkansas Lottery Still a Failure: March Report

Earlier this month the Arkansas Lottery released its financial report for March.

The report shows the Arkansas Lottery took in nearly $52 million, but paid out only a little over $8.5 million for college scholarships — about 16.5% of all the money it made.

For perspective, the typical state lottery gives education programs about 30% of the money it makes. Louisiana’s lottery spends 35%.

During the recent legislative session, lawmakers rejected two proposals that would have incrementally increased the percentage of lottery revenue students receive to 25% by the year 2025.

Below is a breakdown of lottery revenue and scholarship spending 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%
December 45,859,642.73 6,650,791.54 14.5%
January, 2019 40,574,813.28 7,848,495.62 19.3%
February 41,060,111.75 8,198,257.31 20.0%
March 51,988,380.67 8,552,307.04 16.5%
Total $392,713,692.09 $68,356,380.78 17.4%