How much money does the Texas Lottery send to schools? WOW

[thetragichippy]

I commented on a post with this article and thought it deserved its own post.  2.1 BILLION would fund Texas schools 5 1/2 days..........

 

 

According to the lottery’s 

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 for fiscal year 2023, the majority of the revenue (about 67%) went toward paying out winners. About a quarter of the money (24.5%) went toward Texas education via the Foundation School Fund, which is roughly $2.1 billion.

For more context, we went through 

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 and found school funding for 2025 is expected to be more than $66 billion.

With Texas schools required to provide 180 days of instruction per school year, a $2.1 billion contribution from the lottery would help the state cover roughly five-and-a-half days’ worth of funding.

 

According to the Lottery Commission, the lotto has contributed a total of $31.8 billion to the Foundation School Fund since 1997.

[baddog]

5 hours ago, thetragichippy said:

I commented on a post with this article and thought it deserved its own post.  2.1 BILLION would fund Texas schools 5 1/2 days..........

 

 

According to the lottery’s 

This is the hidden content, please

• Sign In
• or
• Sign Up

 for fiscal year 2023, the majority of the revenue (about 67%) went toward paying out winners. About a quarter of the money (24.5%) went toward Texas education via the Foundation School Fund, which is roughly $2.1 billion.

For more context, we went through 

This is the hidden content, please

• Sign In
• or
• Sign Up

 and found school funding for 2025 is expected to be more than $66 billion.

With Texas schools required to provide 180 days of instruction per school year, a $2.1 billion contribution from the lottery would help the state cover roughly five-and-a-half days’ worth of funding.

 

According to the Lottery Commission, the lotto has contributed a total of $31.8 billion to the Foundation School Fund since 1997.

And this is how they got Texans to vote for gambling (lottery) in Texas. 

[tvc184]

8 hours ago, baddog said:

And this is how they got Texans to vote for gambling (lottery) in Texas. 

It’s $31B that wasn’t in taxes.

Apparently 1/3 of the money from gambling known as the lottery goes to schools and 2/3 goes to the players.

That 1/3 set aside pays about a week worth of education statewide.

 Is that a ripoff?

Let’s go out on a limb and say 100% went to schools. Of course, then the question comes up, who would play the game if they were never any winner? But let’s set that aside for now and just say that every dollar someone spends on the lottery goes back to the schools.

So instead a funding one week worth of schooling in each school year, the lottery at 100% returned to the state, would pay for only three weeks.

Is that a problem with the program or the way it was sold or the fact that that’s just how many people are playing? At 1/3 is a pretty good profit for a voluntary program but even doubling it to 2/3 would only pay for two weeks of schooling.

 🤔

[baddog]

1 hour ago, tvc184 said:

It’s $31B that wasn’t in taxes.

Apparently 1/3 of the money from gambling known as the lottery goes to schools and 2/3 goes to the players.

That 1/3 set aside pays about a week worth of education statewide.

 Is that a ripoff?

Let’s go out on a limb and say 100% went to schools. Of course, then the question comes up, who would play the game if they were never any winner? But let’s set that aside for now and just say that every dollar someone spends on the lottery goes back to the schools.

So instead a funding one week worth of schooling in each school year, the lottery at 100% returned to the state, would pay for only three weeks.

Is that a problem with the program or the way it was sold or the fact that that’s just how many people are playing? At 1/3 is a pretty good profit for a voluntary program but even doubling it to 2/3 would only pay for two weeks of schooling.

 🤔

Just trying to do the math. 

[thetragichippy]

5 hours ago, tvc184 said:

It’s $31B that wasn’t in taxes.

Apparently 1/3 of the money from gambling known as the lottery goes to schools and 2/3 goes to the players.

That 1/3 set aside pays about a week worth of education statewide.

 Is that a ripoff?

Let’s go out on a limb and say 100% went to schools. Of course, then the question comes up, who would play the game if they were never any winner? But let’s set that aside for now and just say that every dollar someone spends on the lottery goes back to the schools.

So instead a funding one week worth of schooling in each school year, the lottery at 100% returned to the state, would pay for only three weeks.

Is that a problem with the program or the way it was sold or the fact that that’s just how many people are playing? At 1/3 is a pretty good profit for a voluntary program but even doubling it to 2/3 would only pay for two weeks of schooling.

 🤔

I was just surprised how much money we are throwing at schools. 

Makes a little more sense to me that 90% of my property tax is school tax.

[mat]

From what I could tell, state funding for education is around 23 billion per year, which I assume includes the 2.1 lottery funds.

FYI the state gives 17.5 billion to higher education. I’ve never really understood why, much less the equity of that.