Tennessee Lottery Raises Nearly $500 Million for Education in 2021

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NASHVILLE – The Tennessee Education Lottery set a new record in Fiscal Year 2021 for its total annual transfer to the Lottery for Education Account.

The Lottery transferred $499,885,000, breaking the previous record of $447.1 million set in FY 2019 and bringing the total raised for education in Tennessee since inception to $6,003,863,000.

“We’ve had many winners this year, but the biggest winners continue to be Tennessee students and families who participate in the designated education programs the Lottery funds,” TEL President and CEO Rebecca Paul Hargrove said. “These incredible results that benefit the state from border to border don’t happen without the steady leadership of our Board of Directors, the commitment of employees, the dedication of our more than 5,000 retailers, the enthusiasm of our players and the support of our Governor and the Legislature.”

One of the major contributors to these impressive results is the enabling legislation which allowed the structure of a lottery that is responsive to market conditions and our players.

With total revenues for FY 2021 reaching $2.083 billion, surpassing $2 billion for the first time in the Lottery’s history, total education funding increased over 14% year over year.

Since the Lottery’s inception, more than 1.6 million scholarships and grants have been awarded with Lottery funds. More than 150,000 Tennessee students benefited in the 2019-2020 school year alone.

About the Tennessee Education Lottery Corporation

The Tennessee Education Lottery Corporation operates entirely from the revenue it generates through the sale of its products. Since January 20, 2004, the Lottery has raised more than $6 billion to fund designated education programs, including college grants, scholarships, Drive to 55 initiatives and after-school programs. In addition to the educational beneficiaries, players have won more than $16.5 billion in prizes and Lottery retailers have earned more than $1.5 billion in commissions.

For additional information, visit tnlottery.com and follow the TEL on Facebook, Twitter & Instagram.

https://rutherfordsource.com/tennessee-lottery-raises-nearly-500-million-for-education-in-2021/