JEFFERSON CITY, Mo. The Missouri Lottery is closing out a record year.
Missouri Lottery profits during the past fiscal year surpassed all previous records, coming in at more than $308.9 million with Friday’s final monthly proceeds transfer of $21.8 million to education. This fiscal year’s total is $308,993,403 or 7 percent higher than the previous record set in FY13, when proceeds topped $288.8 million. It is $38 million or 14.1 percent higher than last year’s proceeds, which totaled $270.7 million.
“We had a stellar year,” said May Scheve Reardon, executive director of the Missouri Lottery Commission. “In addition to experiencing the world’s largest jackpot, we also launched our first $30 Scratchers game and made improvements and efficiencies.”
In January 2016, the Lottery offered a Powerball jackpot that reached a record $1.5 billion.
“That 10-week jackpot run generated more than $23.5 million for public education from Powerball sales alone,” Reardon noted. “Not only do big jackpots bring in more sales for those games, but they also tend to increase the play of all the other Lottery games, along with bringing back lapsed players and attracting new players that tend to keep playing.”
Though Powerball is the Lottery’s most profitable game, Reardon said Pick 3 and Pick 4 also had record sales this past fiscal year.
Reardon said Lottery retailers, vendors and employees worked hard this year to streamline operations and maximize profits.
“We are so pleased to be able to provide an additional $38 million for public education this fiscal year,” Reardon said. “We definitely have our work cut out for us next year to meet or beat this annual profit record.”
One hundred percent of the proceeds from Missouri Lottery ticket sales go to public education. In fiscal year 2016, these proceeds were appropriated for a variety of programs including: the Foundation Program, the A+ Scholarships Program, Special Education Excess Costs, the Classroom Trust Fund and 10-11 percent of the state’s funding for several public higher education institutions’ operating costs. For a complete list of programs, including information about Lottery dollars directed to your county, visit the Lottery's website at MOLottery.com.
Each year, the proceeds are allocated by the governor and the state’s legislature during the annual appropriation process. These funds represent approximately 4 percent of the annual funding required for Missouri’s public education system.
For each dollar spent on the Lottery, more than 95 cents goes back to the citizens of the state in one form or another. Approximately 65.5 cents is returned to players as prizes, 24 cents goes to the state’s public education programs, 6.1 cents pays for retailers’ commissions, incentives and bonuses, and 4.4 cents is used for administrative costs.