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Friday, Nov 28, 2014

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Fla. Lottery contributes almost $1.5 billion to education


Published:

The Florida Lottery on Wednesday announced it had transferred another $1.49 billion to state coffers to help fund education, bringing the total to $27 billion since 1988.

In 2013-14, the Lottery had “record-breaking sales of more than $5.36 billion,” according to a news release.

“This has been an outstanding year for the Florida Lottery, and for Florida’s students and schools,” Gov. Rick Scott said in a statement. “Providing our children with a quality education will equip them with the necessary skills to succeed in life.”

Florida is among the 10 largest-selling lotteries in the country in sales growth and growth in contributions, the release said.

Lottery contributions make up about 6 percent of the state’s total education budget.

Education receives a mix of state, federal and local funding, with the state this year kicking in $10.6 billion, a record.

From the press release:

The Florida Lottery is responsible for contributing more than $27 billion to education and sending more than 650,000 students to college through the Bright Futures Scholarship Program. The Florida Lottery reinvests nearly 98 percent of its revenue back into Florida’s economy through prize payouts, commissions to more than 13,000 Florida retailers and transfers to education. Since 1988, Florida Lottery games have paid more than $37 billion in prizes and made more than 1,300 people millionaires. For more information, please visit www.flalottery.com.

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