The Michigan Lottery has just closed a record year, generating approx. $770 million in profit that was deposited directly into the School Aid Fund which supports K-12 public education.
The amount far exceeds the previous record of $748.9 million in FY 2007. The contribution amounts to about 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 ever—approx. $2.41 billion—in FY 2012, which closed September 30. The previous record of $2.37 billion was set in FY 2009. Powerball, instant games and Club Keno experienced the most sales growth.
“Players, retailers and of course, public education in Michigan have all benefited from the great year we’ve had,” said Lottery Commissioner M. Scott Bowen. “It is a win-win for all parties involved.”
Several factors contributed to the Lottery’s record success. During the past year, the Lottery offered several games with interactive components, as well as multiple second chance opportunities through its free affinity Player’s Club at www.michiganlottery.com. The extras have helped make Lottery games even more attractive to players by providing more ways to win, Bowen said.
Profit and sales were bolstered by Lapeer resident Donald Lawson’s $337 million Powerball win August 31, Bowen added. In the weeks following Lawson’s win and news conference, Powerball sales jumped over 11 percent, resulting in an extra $400,000-plus for the School Aid Fund.
While Lawson was Michigan’s biggest winner, and in fact the state’s biggest Lottery winner ever, he was not the only lucky player. The Lottery paid approx. $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 approx. $172 million in commissions.
Bowen said the record amounts, which are preliminary until a final audit is completed, support the Lottery as an affordable entertainment option. Ticket prices for the multiple games available range from 50-cents to $20. Prizes available range from $1 to Mega Millions and Powerball jackpots.
In fiscal year 2012, the Lottery’s contribution to schools was approx. $770 million. Since its inception in 1972, the Lottery has contributed more than $17 billion to education in Michigan.
For additional information, please visit the Lottery’s Web site at www.michiganlottery.com.
“The Michigan Lottery. All across the state good things happen.”
Contact: Andi Brancato, PR Director 517-335-5648
Agency: Michigan Lottery Public Relations
