Where does the lottery money go in Florida?

Posted at 5:00 PM, Jan 13, 2016
and last updated 2016-01-13 17:19:28-05

So where is all the money from lottery sales going?

Nearly $18 billion went to state budgets in the 2014 fiscal year.

Every state has a commission that oversees how that money is spent, and it varies by state.

A small part goes to administrative fees for the lottery, then the rest goes to whichever areas each state decides.

In Florida, the other revenue goes to the Education Enhancement Trust Fund.  

Forty percent of all Powerball ticket sales in Florida goes to education. That’s 80 cents for every ticket sold.

This round of drawings has generated a record $94 million so far, paying for new technology in schools, teacher bonuses and scholarships.

I guess you could call Ryan Heckel one of the lucky ones.

“I haven't thought of that, but maybe that could be our new nickname,” he said.

A freshman at USF, he received a Bright Futures Scholarship last year, paid for by the Powerball Lottery.

“It helps out a lot, it's about $77 a credit hour,” said Heckel.

But he’s not gambling on his future. He doesn’t even have a ticket for tonight’s jackpot. Instead, he’s sticking with the sure thing: Studying finance.

“I feel like the best way to make money is to deal with money, I definitely think that's the way to go,” he said.             

Since the Florida lottery started in 1986, $7.7 billion has gone to education.

With 23,000 tickets sold every minute. That number will only go up from here.