The Texas Lottery Commission has contributed more than $2 billion towards public education and veterans’ causes, putting a spotlight on the value of the Texas Lottery in communities across the Lone Star State.
The Texas Lottery had its most lucrative year ever, with record-breaking sales of scratch tickets and draw games from September 2022 through August 2023, per The Texan.
In fiscal year 2023, the Texas Lottery Commission (TLC) achieved a remarkable milestone by reporting a sales figure of over $8.7 billion, which is a substantial increase from the previous year’s sales of nearly $8.3 billion.
Gary Grief, TLC executive director, attributed the record-breaking sales figures for the year to a combination of factors, including the popularity of the large national jackpots, the success of the $100 scratch-off tickets, and the efforts of hardworking lottery employees.
In the last five years, TLC’s sales have grown by a staggering $2.47 billion, with scratch tickets accounting for over 77% of sales this fiscal year. Fiscal year 2023 was the Texas Lottery’s 13th straight record sales year, according to a recent TLC news release.
“The outstanding achievements of the past fiscal year would not have been possible without the tremendous dedication of our staff, vendor partners, retailers, and most importantly, our valued players,” explained Grief, according to The Texan.
Texas Lottery contributed a historic $2.16 billion to fund public education and veterans’ services this past fiscal year, with $2.13 billion going to the Foundation School Fund and $29.7 million going to the Fund for Veterans’ Assistance.
“The Texas Lottery is proud to announce it has crossed the $2 billion threshold for funds generated for public education and veterans’ services in Texas for the first time,” said Grief in the news release.
Texas Lottery revenue can be broken down as follows: players in the form of prize payouts (67.5%), retailer payouts (5.3%), Texas Lottery administration employee salaries and wages (3.1%), Foundation School Fund contributions (23.8%), and contributions to Veterans’ Assistance and other state programs (0.3%), according to the Fort Worth Star-Telegram.