The Tennessee Education Lottery Corporation recently announced it raised $515,397,000 for education in the Volunteer State during Fiscal Year 2023 (FY23), setting a new Fiscal Year record for the amount generated for education.
FY23, which spanned from July 1, 2022, through June 30, 2023, surpassed Fiscal Year 2022’s proceeds by more than $29.8 million.
Tennessee Education Lottery proceeds have increased an average of 4.5 percent annually for the past 10 years, according to the lottery’s website.
Since its inception in 2004, the Tennessee Education Lottery has proudly raised more than $7 BILLION for education in Tennessee.#TNLottery #GameChangingFun #TennesseeLottery pic.twitter.com/zpNubZuD7k
— Tennessee Lottery (@TNLottery) August 7, 2023
“This stellar performance is made possible by the hard work and support of so many,” Rebecca Paul, President and CEO of the Lottery said in a statement. “Students continue to win, thanks to an incredible Board of Directors, our network of more than 5,000 retailers, elected officials, enthusiastic players and a dedicated team of talented employees.”
All profits leftover from lottery ticket sales go to pay for specific educational programs throughout the Volunteer State, including HOPE Scholarships, Wilder-Naifeh grants, Drive to 55 initiatives, such as Tennessee Promise, and more.
“Funding from the Lottery has helped the state become a role model nationwide for helping make college degrees and certificates a reality for students throughout Tennessee. The Lottery is committed to the strategies that drive its success and help achieve its core mission of maximizing funds for education in Tennessee,” the lottery writes on its website.
The Tennessee Education Lottery is set to celebrate its 20th anniversary next year, as the lottery’s first ticket sale took place on January 20, 2004. The lottery was originally approved by Tennessee voters on a statewide referendum in 2002 and was authorized by the Tennessee General Assembly to operate games and generate funds for specific education programs in the state in 2003.
Since the lottery’s inception nearly 20 years ago, it has returned more than $7 billion to the state for education on top of its $19.2 billion payouts in prizes for players and $1.8 billion in retailer commissions.
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Kaitlin Housler is a reporter at The Tennessee Star and The Star News Network.
Image “Lottery Games” by Tennessee Lottery and “Students in Class” by Arthur Krijgsman.
I have to wonder how many Tennessee children went to be hungry because their parents/guardians chose to gamble on the lottery.
I find it disgusting for a government of any level to finance their operations on gambling revenues.