WESTCHESTER, N.Y. - The New York State Lottery announced Wednesday that it took in a total of $7.86 billion with profits of $3.5 billion for the 2010-2011 fiscal year. According to the report on the New York State Lottery website, profits go to funding K-12 education in New York State. The Lottery’s fiscal year 2010-11 earnings represent over 15 percent of total state aid to local school districts.
"Results were in line with our budgeted expectations,” New York Lottery Director Gordon Medenica said in a press release. “We are glad the Lottery can contribute to education in New York. And it all comes from New Yorkers helping New Yorkers. Seventy-five pecent of New Yorkers play Lottery games, and it is their enthusiasm for our fun and entertaining games that benefits us all.”
Where the Lottery money goes:
• Overall, 96 percent of the Lottery’s record $7.86 billion in combined sales and net win was returned to New Yorkers in the form of prizes, aid to education, and commissions to retailers • Prizes paid totaled nearly $4.0 billion in Traditional Lottery games. • Commissions paid to over 16,500 Traditional Lottery retailers and 8 Video Gaming facilities totaled $882 million. • The Lottery paid $405 million in commissions to Traditional Lottery retailers and $477 million in commissions to Video Gaming facilities. • The entire operation of the Lottery, including advertising, marketing, printing, systems, telecommunications, finance and administration, is funded from less than 4.0 percent of sales.
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