Feb 14, 2014 12:16 AM
CORPUS CHRISTI - The Texas Lottery has been operational since 1992.
In that time, there've been thousands of winners and countless losers, but still, people play.
Recently, state and nationwide jackpots have hit all-time highs, making for many instant millionaires. But, part of the original lottery 'pitch' was that it would help fund education. So, does it?
If you log onto the Texas Lottery website, you'll find information that explains how lottery revenue is used. Since 1997, the website says the Texas Lottery has contributed more than $16 billion to the Foundation School Fund.
Of every dollar spent on a lottery ticket, about 74 cents goes to jackpot payouts, retailers, the Lottery Administration, and other state programs. The remaining 26 cents goes to education.
In 2013, the Texas Lottery brought in a record $4.376 billion in sales and contributed a record $1.149 billion to the Foundation School Fund.
A billion dollars a year is a lot of money, but it's hardly enough to cover what it takes to educate students in the Lone Star State. But keep in mind, the lottery was never intended or promised to fully fund education.
KRIS 6 News requested an on-camera interview with the Texas Lottery Commission but was told the Executive Director was out of town and an interview was not possible.
1 hour ago
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