Where Does Money From Lotto Sales Go?
According to a graph posted on the Texas Lottery Commission's website, 63% of lotto ticket sales go to paying lotto winners. Stores who sell lotto tickets get a 5% commission, the lottery administration gets 5%, and 2% goes to other state programs. The Commission says 25% of the profits from lotto ticket sales goes to a school fund, to support public education in Texas.
The Texas Lottery Commission claims they have contributed more than $14 billion to public schools in the state in the last 14 years. Many lawmakers in Texas argue the state lottery is not really funding education and that these numbers are a myth!
Tune in to NewsChannel 9 at 10 to hear why some believe schools are not profiting from lotto ticket sales.