Where The Money Goes
Where The Money Goes
The Georgia Lottery’s mission is to maximize revenues for specific educational programs. In fiscal year 2017, the GLC transferred $1,101,062,911 to the Lottery for Education Account – that’s $3 million (on average) raised every day for HOPE & Pre-K. The Georgia Lottery ranks #4 of all traditional state lotteries in terms of highest per capita returns to beneficiaries.
Simply put, no. In fiscal year 1997, the Georgia Lottery transferred 35% of lottery revenues to the Lottery for Education Account in the amount of $581 million. In fiscal year 2017, the Georgia Lottery raised $1.101 billion for HOPE & Pre-K, accounting for 25.7% of lottery revenues for fiscal year 2017. The Georgia Lottery responsibly manages prize payouts to maximize revenues for the important education programs funded with lottery proceeds.
The Georgia Lottery operates on 0.9% of lottery revenues and has been at or below 1% every year since 2002. In fiscal year 2017, lottery retailers earned a 6% sales commission on each lottery ticket they sold. Major vendors that operate our gaming system and print instant games earn approximately 2% of revenues.
By law, the Georgia Lottery Corporation (GLC) is governed by a seven-member board of directors that is appointed by the Governor. The Lottery for Education Act also creates a joint committee of the General Assembly to serve as the Georgia Lottery Corporation Legislative Oversight Committee, comprised of the House Regulated Industries Committee & Senate Economic Development Committee. The Lottery is accountable to the Governor, the General Assembly through the Joint Legislative Oversight Committee, and to the public through regular and on-going audits and reports. All audits and reports are public documents. Additionally, the Georgia Department of Audits annually releases a special report on the Georgia Lottery.
The GLC board of directors commissions extensive compensation studies by independent third party firms to ensure GLC pay practices are in line with the marketplace; requires the Corporation to contract with independent auditing firms to ensure the GLC’s financial viability on an annual basis; and requests profit optimization studies be conducted periodically by independent gaming experts to ensure the Corporation is maximizing revenues to its beneficiaries.