Lottery has record year, makes school donation
LANSING – The Michigan Lottery recently deposited approximately $770 million of profits to the School Aid Fund. The fund supports K-12 public education.
The amount far exceeds the previous record of $748.9 million in FY 2007. The contribution amounts to approximately 32 cents to the School Aid Fund for every dollar of ticket sales.
In addition to the record School Aid contribution, the lottery saw its best sales year – approximately $2.41 billion – in FY 2012, which closed on Sept. 30. The previous record of $2.37 billion was set in FY 2009. Powerball, instant games and Club Keno experienced the most sales growth.
Profit and sales were bolstered by Lapeer resident Donald Lawson’s $337 million Powerball win August 31, Lottery Commissioner M. Scott Bowen said. In the weeks following Lawson’s win and news conference, Powerball sales jumped over 11 percent, resulting in an extra $400,000 for the School Aid Fund.
While Lawson was the state’s biggest lottery winner ever, he was not the only lucky player. The lottery paid approximately $1.37 billion in prizes in FY 2012. For each dollar of sales, about 57 cents is paid back in prizes.
Retailers were also big winners, earning approximately $172 million in commissions.
Since its inception in 1972, the lottery has contributed more than $17 billion to education in Michigan.
For additional information, visit the lottery’s website at www.michiganlottery.com.