More Oklahoma Lottery Money Directed To Education Funding

Tuesday, July 31st 2018, 7:25 am
By: Dave Davis

It's a question that we get asked often, why isn't Oklahoma's Lottery supposed to be funding education?

Well, a significant portion of state lottery sales does go to education.

A spokesperson for the Oklahoma Lottery Commission tells News On 6, they are giving $63-million to the state's Education Trust Fund.  That is out of $221-million in sales in the most recent fiscal year.

Spokesperson Jay Finks says that contribution is a 20-percent increase from the previous fiscal year or $10-million.  He added that this is not the highest amount they've ever contributed, but certainly a significant turnaround from last fiscal year's all time low contributions.

1/19/2018 Related Story: Change In Oklahoma Lottery Law Paying Off, Officials Say

Finks credits a new state law that allows the Oklahoma Lottery to give out more prize money.

Almost half of the lottery's education dollars go toward K - 12, and it can be used for budget items including teacher pay.  Another almost 40-percent goes toward higher education.

The remainder of the $63-million will go toward things, like teacher retirement and career techs.

Oklahoma Lottery financial information