Kentucky Lottery hits $5 Billion turned over to Commonwealth

02/27/2018 10:25 AM

The Kentucky Lottery has hit a milestone as they have delivered $5 billion to the state of Kentucky, which has directly impacted education.

When the lottery was first created the General Assembly assumed just $65 million annually would be returned to the Commonwealth. This means it would have taken more than 76 years to reach this milestone.

“I think it’s a combination of making sure you a good product, you start with that, you market it well and you have a strong retailer base, and we have all three,” said KLC President and CEO Tom Delacenserie in an interview with Pure Politics on Monday.

The first years of the lottery the General Assembly directed $2 billion into the General Fund, in 1998 the legislature earmarked the money into education — which took in $3 billion, Delacenserie said.

From fiscal year 1999 through the end of fiscal year 2017, 675,562 students across the Commonwealth have received a lottery-funded college scholarship or grant, according to a lottery news release.

Delacenserie said the lottery is on track to do more than $1 billion in business this year, and has set a goal of achieving $1 billion sold in scratch-off sales in the next 5 to 6 years.

In an effort to reach that goal, announced a new scratch-off ticket with several $1 million top prizes as well as $24 million in cash prizes between $50 and $500.

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