Arkansas Lottery Wins Big In August
The Arkansas Scholarship Lottery brought in $49.32 million during the month of August. This amount is a $14 million increase over of the revenue from August 2016. The Arkansas Lottery attributes the increase in revenue and net proceeds to increased interest because of the unusually high jackpot won by a lucky winner in Massachusetts last month.
The Arkansas Lottery helps with financing educational scholarships and has raised $700 million for college scholarships since the inception of the lottery in 2009.
Other factors for the near record-breaking month include a large Mega Millions jackpot, increased scratch-off ticket sales and the ability for players to pay with debit cards, which started on August 1. January 2016 holds the record for revenue of $58.7 million. High revenues seem to directly correlate with record jackpots for Powerball and Mega Millions drawings.
The unclaimed prize reserve fund has grown to $2.6 million. The state will transfer the total balance minus $1 million to college scholarships by the end of the fiscal year as state law mandates.