NC Lottery Nets $522 Million For State Education Funding

NC Lottery Nets $522 Million For State Education Funding

11:49pm Jul 30, 2015
Lisa Brewster via Flickr

Scratch off tickets and lottery numbers continue to make money for education. The North Carolina Education Lottery has surpassed records in sales and profits kicked back to the state.

The lottery brought in $522 million for education expenses in the most recent budget year.

The lottery on Thursday announced its annual earnings for the year ending June 30. Ticket sales for the year totaled near $2 billion. More than $1.2 billion was given away in prizes.

Sales were up just over 7 percent, and profits increased nearly 4 percent, in line with the average over the past five years.

The legislature's top economist last year projected the lottery would generate nearly $521 million for education initiatives and teacher pay.

 

House budget writers tried unsuccessfully last year to raise the advertising cap for the lottery in an attempt to raise profits for teacher's salary increases.

 

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