Lottery Ticket Sales 'Tiny' Part of Oklahoma Education Budget

More than 3 million lottery tickets were sold just Wednesday in Oklahoma.

Those sales are supposed to fund education in the state, but on the same day the winning numbers of the $1.5 billion Powerball are announced, Oklahoma schools lost millions of dollars in state funding.

At least 35 percent of lottery ticket sales in the state go to education - higher education, regents and teacher retirement - but school superintendents we talked to said you'll be shocked to see the small amount of money that adds up to.

Powerball frenzy played out in Tulsa Wednesday night.

Oklahoma Education Lottery Trust Fund

The prospect of becoming a billionaire is irresistible, but the purpose of the Oklahoma lottery is more serious.

The Oklahoma Lottery Commission started in 2004; at the time, it was estimated the lottery would bring in $300 million a year for Oklahoma schools, but, at times, it's brought in just $30 million.

For the 2016 year, the lottery provided $70 million for Oklahoma schools - just 1.5 percent of the state education budget.

The State Department of Education said lottery dollars make up a tiny percentage of its funding; but this Powerball could be a winning ticket.

The Oklahoma Lottery Commission said it normally does $900,000 in sales a week on Powerball, but last week's Powerball sales alone topped $14 million.

You would think that money might help pull Oklahoma schools out from under the most recent round of budget cuts - totaling $47 million statewide - but it won't. Those dollars won't be directed to Oklahoma schools until the next fiscal year.

Superintendents say $70 million for Oklahoma schools this year sounds like a lot of money, but the Owasso superintendent says the money his district gets allows him to hire only one teacher a year.

The Sand Springs superintendent says his district is in dire need, saying, "It is ironic that everyone is all focused on the big Powerball whenever we have so much need in the state of Oklahoma, particularly in education."

The good news is, Powerball ticket sales last week alone could add up to almost $5 million for education; but, again, schools won't see the money this year.