29 percent.
That is the percentage of lottery revenue actually transferred to fund education programs in 2012, about $435 million. How is the lottery revenue distriibuted?
- 7 percent of lottery money was paid in commissions to retailers for lottery tickets
- 4 percent went to advertising marketing and other administrative expenses.
- The remaining 60 percent of lottery revenue was paid out in prizes.
Most schools and educators wonder where all the money goes. Getting 29 cents of every lottery dollar, is not a very good return for schools. Should we be surprised, who ever said the lottery was a good bet.
But without the lottery, the return on $0 would be $0. As long as the lottery isn’t losing money, the schools benefit. What needs to happen to pass a law prohibiting the proceeds from being spent to plug other budget holes.