Arkansas' November lottery revenues $58.5M, up $11.4M over year ago
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The $2 billion Powerball jackpot fueled the Arkansas Scholarship Lottery's revenues in November as the lottery's total revenues increased by $11.4 million over a year ago to $58.5 million, according to the lottery's latest report.
The report shows the lottery's Powerball revenues in November reached $11 million, up from $2.1 million a year ago. The Powerball jackpot reached $2 billion — the largest ever in the United States — on Nov. 7 and a winning ticket was sold in Altadena, Calif.
In November, the lottery raised $10.6 million for college scholarships, compared to $7.2 million a year ago.
November is the fifth month of fiscal year 2023, which started July 1.
During the first five months of fiscal 2023, the lottery's revenues total $252.2 million, up from $238 million in the same period in fiscal 2022. The lottery's draw game revenues total $61.6 million so far in fiscal 2023 compared to $41.5 million in same period in fiscal 2022, while the lottery's scratch off revenues are $190.2 million so far in fiscal 2023 compared to $196.1 million in the same period in fiscal 2022.
Sales of raw-game tickets such as Powerball and Mega Millions are more profitable to the lottery than sales of scratch-off tickets.
So far in fiscal 2023, the lottery has raised $46.9 million for college scholarships, compared to $39.2 million in the same period in fiscal 2022.
For fiscal 2023, the lottery is projecting total revenue of $535.9 million and raising $91.4 million for college scholarships.
In fiscal 2022, the lottery collected revenue of $580.2 million and raised $99.7 million for college scholarships. They were the second largest amounts that the lottery has reported in any fiscal year, trailing only fiscal 2021 when the lottery collected revenue of $632.5 million and raised $106.6 million for college scholarships.
