POSTED: Wednesday, December 11, 2013 - 6:30pm
UPDATED: Wednesday, December 11, 2013 - 6:36pm
The Texas Lottery Commission announced Wednesday that its contributions to the Foundation School Fund, generated from lottery ticket sales, have surpassed $16 billion. The October revenue transfer that was processed in November for $83.5 million brought the total amount generated for the Foundation School Fund since 1997 to $16.06 billion.
“We appreciate our responsibility to generate revenue for Texas and we are very proud of this milestone,” said Texas Lottery Commission Executive Director Gary Grief. “We will continue to strive to increase funding for public education.”
Fiscal year 2013 was the Texas Lottery’s best year for sales and revenue in the agency’s 21-year history. Sales of $4.376 billion topped previous records and resulted in a total contribution of $1.214 billion to the state of Texas, the Lottery’s single largest transfer of revenue to the state. This included a contribution of $1.149 billion to the Foundation School Fund and was the 10th consecutive year that the Texas Lottery generated more than $1 billion in contributions to the state of Texas.
Beginning with the first ticket sold in 1992, the Texas Lottery has generated $21 billion in revenue for the state and distributed $42 billion in prizes to lottery players. Since 1997, the Texas Lottery has contributed $16 billion to the Foundation School Fund, which supports public education in Texas. As authorized by the Texas Legislature, certain Texas Lottery revenues benefit state pro¬grams including the Fund for Veterans’ Assistance.
The Texas Lottery provides several entertaining games for lottery players including Powerball®, Mega Millions®, Lotto Texas®, All or Nothing™, Texas Two Step®, Pick 3™, Daily 4™, Cash Five® and scratch-offs. For more information visit us on Facebook, Twitter, YouTube or at www.txlottery.org .