(AUSTIN) – With February’s deposit of $75.1 million, Texas Lottery® transfers to the Foundation School Fund (FSF) now total more than $11 billion since 1997.
“This milestone is a testament to the hard work of Texas Lottery staff and retailers,” said Texas Lottery Commission Deputy Executive Director Gary Grief. “Their steadfast focus on customer service and integrity makes Texas public education the big winner.”
Overall, 95% of the Texas Lottery’s $3.67 billion in sales was returned to the state and players in the form of prizes, contributions to the FSF, retailer bonuses and commissions, and other state programs.
In FY 2008, more than $983 million was contributed to the FSF. Other lottery revenue, such as unclaimed prizes, was returned to the state as part of the General Revenue Fund.
Since the first ticket was sold in 1992, the Texas Lottery Commission has transferred more than $16 billion in revenue to the state. From 1992 to 1997, proceeds were allocated to the General Revenue Fund. Since a change in law in 1997, all net revenue has been transferred to the FSF to support education in the state.
Players have claimed more than $30 billion since startup, and Texas Lottery retailers have received bonuses and commissions exceeding $2.6 billion.