More than $5.5 billion was spent on the Virginia Lottery last year, marking the highest ticket sales in the lottery’s 36-year history. This resulted in over $934 million in profits being directed to K-12 public education in Virginia, which accounts for about 10 percent of the state’s K-12 education budget.
Governor Glenn Youngkin expressed his excitement, saying, “I am so thrilled these record profits will help provide the necessary support and resources for Virginia’s students.” The lottery achieved a record low rate for administrative costs, operating at an efficient 3.8 percent of sales, according to the governor’s office.
Lottery Executive Director Khalid Jones credited the record profits to the dedication of lottery employees. “We are pleased that the lottery was able to deliver for the Commonwealth once again, and in an even bigger way than ever before,” said Jones.
Of the $5.5 billion in lottery sales, $4.2 billion was returned to players as prizes. In the previous fiscal year, $867 million from lottery proceeds was allocated to public schools.