LITTLE ROCK, Ark. (KARK) – The Arkansas Scholarship Lottery had a record month in December in the amount of instant tickets sold, but the amount going to scholarships was down from December 2018.
That’s the case because scholarships are based on revenues and not amounts sold, say lottery officials.
They say the lottery actually makes more money from its draw games such as Powerball and Mega Millions, but also local draws like the Natural State Jackpot and the Cash 3.
Officials say the lottery makes about 43 cents on the dollar for those, but the instant ticket games that had record sales in December don’t make as much. It varies depending on which ticket amounts are being sold. That then affects the profits, and, in turn the amount going to scholarships.
“You’re gonna have these months where we have a record month but because we sell more instant games, our profit is going to be less,” explains Bishop Woosley, Director of Arkansas Scholarship Lottery.
Woosley also says the amount of money going to scholarships varies month to month as well, based on how much the lottery makes.
So after prizes, administrative costs, and vendor contracts are paid out, everything remaining goes into the scholarships and then they basically zero-out each month.