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Play Lotto

Posted by Texas Education on July 18, 2008

Here is how much money goes to Education, According to the Texas Lotto Commission

10 YEARS = $10 BILLION FOR TEXAS EDUCATION

The Texas Lottery has generated well over $15 billion for the state of Texas since the first ticket was sold in 1992. Prior to 1997, the proceeds were allocated to the General Revenue Fund. Since 1997, all Texas Lottery proceeds have been transferred to the Foundation School Fund to support public education in our state. The Texas Lottery has contributed more than $10 billion to the Foundation School Fund, and of that total, more than $1 billion was contributed in fiscal year 2007. Other Texas Lottery funds such as unclaimed prizes revert back to the state for programs authorized by the Texas Legislature.

Where-the-Money-Goes_WEB

Background information:

November 5, 1991 – Constitutional Amendment authorizing State Lottery. Approved by a two-to-one margin (68%). The Texas Lottery Commission has racked up more than $15 billion in sales since beginning operation in 1992. It contributes more than $1 billion a year to the state treasury; about two-thirds of the state’s take goes to Texas schools. The Texas lottery has two kinds of games: instant games, called “scratchers,” and lotto, in which players try to match three, five, or six numbers. Retailers such as grocery stores, gas stations, and liquor and convenience stores sell Texas lottery tickets, getting a 5% commission for each ticket they sell. Under state law, prize payouts must average about 53% of lottery ticket sales.

Lottery News 2008:

Texas Lottery Ticket Sales in a Slump
TEXAS, USA, June 16, 2008 — Following a decade of nearly consistent economic growth and record revenue of $3.77 billion for the 2006 fiscal year, the Texas Lottery is seeing a slide in sales.

Lottery Sales Down Nearly Two Percent From Last Year
AUSTIN, Texas, June 8, 2008 — Lottery ticket sales in Texas are down and state officials say the decline could impact the $1 billion the lottery sends annually to public schools.

Smaller jackpots and a sagging economy may help explain the drop that has sales running 1.8 percent behind last year, Texas Lottery Commission spokesman Robert Heith said.

About 27 percent of lottery sales are reserved for the Foundation School Program, a fund to that goes to local school districts. If sales trends hold, the money going to the program this fiscal year would be about $930 million, down from $1.03 billion in 2007 and 2006. The fiscal year ends Aug. 31.

The lottery’s assistance is significant to public schools. The state has appropriated $19.8 billion to the program for next year, the Austin American-Statesman reported Sunday.

“We’re doing our best to improve sales,” Heith said.

A new $50 scratch-off ticket game is set to be unveiled this summer. Last year, a similar high-dollar ticket boosted revenue in the final quarter, and lottery officials are hoping for a similar effect.

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