Profits from Missouri Lottery ticket sales in October were sent to the Lottery Proceeds Fund for public education Friday. The transfer of $39,765,047 is the Lottery’s second-highest monthly transfer to date, bringing the total for FY19 to more than $141 million.
“Sales were strong last month, thanks to high and record-breaking jackpots for Powerball and Mega Millions,” said May Scheve Reardon, executive director for the Missouri Lottery. “These record jackpots are a lot of fun for our players and, at the same time, they allow us to increase our proceeds for education.”
Since Missouri Lottery sales started in 1986, the Lottery has generated more than $6 billion for the state and public education. Annual Lottery proceeds comprise about 4 percent of the state’s funding for public education – an effort shared by local, state and federal governments.
Prior to each fiscal year, the Lottery averages the most recent five years’ profits for a “benchmark” and increases that amount by 1 percent to arrive at a prudent goal for the next fiscal year.
In addition to providing funds for public education, the Lottery also benefits the state by collecting state taxes on prizes of more than $600. During FY18, the Lottery collected $4 million in state tax withholdings, along with another $955,000 in debt offsets for back taxes, child support, public defender fees and other state agency debts.
For complete information about Missouri Lottery proceeds, including the specific programs benefited in each county, see the “Where the Money Goes” section at MOLottery.com.