Arkansas Lottery paid out $1 billion in prizes in 3 years
The Arkansas Scholarship Lottery today announced that total prizes awarded to players in Arkansas have exceeded the astonishing $1 billion mark early Monday.
As of Tuesday morning, the prize total was calculated at exactly $1,001,373,313.
The Arkansas Lottery has been selling tickets for only three years and five months since September 28, 2009.
Lottery Director Bishop Woosley said the Lottery has produced just over $321 million for the Education Trust Fund to finance 94,000 Arkansas Ac ...
Feb 19, 2013, 2:32 pm - Lottery News forum
Florida Lottery education spending investigated
Lottery money still invested in education, but targeted differently than it used to be
Florida Lottery education dollars that used to go mainly to K-12 education are now being spread into several different educational initiatives, raising the ire of local Superintendents, but pleasing those who feel that education spending should be more diverse.
Nearby 4 billion dollars was spent on the Florida Lottery last year. It's money lawmakers promised would go to education. But according to infor ...
Feb 7, 2012, 10:04 am - Lottery News forum
Arkansas Lottery forecasts $5M drop in scholarship money
Arkansas' lottery is on track to bring in roughly $5 million less for scholarships than last year, the games' interim director said Tuesday, as lawmakers prepare to consider whether to reduce the amounts of the scholarships next year.
Interim Lottery Director Julie Baldridge told the lottery's legislative oversight committee that the lottery is on track to raise $89 million for college scholarships for the fiscal year that began July 1. That's a drop from the $94.2 million the games raised in ...
Dec 7, 2011, 3:02 pm - Lottery News forum
Tenn. legislators float idea that lower prizes will bring in more money
Task force says 'bad idea'
Some Tennessee legislators are eying a reduction in prize payouts for Tennessee lottery players while letting them buy tickets with debit or credit cards.
The proposals are among ideas that are being floated as a way to generate more money that can be used for college scholarships.
Both were criticized at a meeting last week of the Senate Lottery Stabilization Task Force with a lottery official suggesting that a cut in prizes could be a bad business decision a ...
Oct 31, 2011, 7:38 pm - Lottery News forum
Tenn. lawmakers float ideas to improve lottery revenues
Tennessee state Senate minority leader is calling on fellow lawmakers to find ways to increase lottery revenues instead of cutting back on the scholarship program, while Gov. Bill Haslam has assigned his staff to consider a broad range of options for stabilizing the game's finances.
Jim Kyle, D-Memphis, said in a letter released Wednesday that while the Tennessee Higher Education Commission estimates that the lottery will deplete its sizable reserves by 2024, it also says annual losses could ...
Sep 29, 2011, 9:36 am - Lottery News forum
N.M. lottery celebrates anniversary, tackles challenges
Amid revenue shortfall, officials launch new campaign to boost ticket sales
New Mexico Lottery officials this month are celebrating the 15th birthday of the lottery program with a special anniversary scratcher ticket and a new ad campaign.
Amid a revenue shortfall and the possibility that the lottery's scholarship money could be out of cash by 2014, the celebration is bittersweet.
This is a new era for us because we don't know how many people are going to play the lottery from now on, ...
Apr 25, 2011, 7:27 am - Lottery News forum
Ark. Lottery panel votes for changes to unclaimed prize money
The legislative Lottery Oversight Committee voted today to recommend a fix for a 2010 law change that Arkansas lottery officials say hampers their ability to maximize ticket sales.
During last year's fiscal session, the Legislature changed the state lottery law to add unclaimed prize money to net profits.
Lottery Director Ernie Passailaigue said after the session that the change meant the lottery could not use some of the unclaimed money on efforts to boost prizes and sales in response to ...
Feb 16, 2011, 10:50 pm - Lottery News forum
N.M. acts to save Lottery scholarship fund
A lottery-financed college scholarship program is running out of money, and lawmakers are looking for a fix that won't hamper efforts to encourage young New Mexicans to attend universities and colleges in the state.
The scholarship fund could be depleted by 2014 if nothing is done in the Legislature this session and tuition rates continue to rise sharply, according to the latest state projections.
The Senate Education Committee unanimously endorsed a measure Wednesday that would shore up t ...
Feb 11, 2011, 9:30 am - Lottery News forum
Tenn. Lottery scholarships underfunded
The Tennessee Lottery games aren't generating enough money to pay for all of the Hope Scholarships. Now, lawmakers are putting options together that could make it tougher for students to get a scholarship in the future.
More students than ever are eligible to receive the annual $4,000 Hope Scholarship. A special task force has been analyzing the problem for the last year. Lawmakers say they don't want to impact any current scholarships and break promises to students.
That's part of their ...
Jan 19, 2011, 7:44 am - Lottery News forum
Arkansas Lottery may not be able to meet scholarship demands
Panel considered reducing scholarship amounts
The legislative committee that oversees the state lottery yesterday considered, but ultimately tabled, a proposal to recommend reducing lottery scholarship amounts by 10 percent for the second class of lottery recipients.
Last year the Legislature set the amount for the first group of lottery recipients at $5,000 per year to attend a four-year school and $2,500 per year to attend a two-year school.
Rep. Barry Hyde, D-North Little Rock, co-ch ...
Dec 31, 2010, 10:48 am - Lottery News forum