A record-breaking year for the state lottery means a record-breaking year in the amount of money it has raised for education. Lottery spokesman Susan Goedde (gaydee) says lottery profits have gone up each of the last three years. The last transfer of proceeds to the state’s education system for Fiscal 2012-2013 runs the total to almost $290 million.
The fiscal year won’t end for two more weeks but Goedde thinks the total lottery sales will be up again too and will reach about $1.1 billion.
The lottery has contributed more than four billion to education since state law was passed requiring lottery proceeds to go to education. Proceeds went to the state’s general bank account for the first seven years of the lottery.
Lottery income was generlally flat from FY 2005-2006 through 2010-2011. But the addition of the Mega-Millions game to the mix two years ago brought a big jump in ticket sales. The legislature is counting on the lottery to produce about $295 million in the next fiscal year, another new record.