While the Texas Lottery has been busy creating a slew of millionaires, they've also been busy granting large payouts of a different kind. The Texas Lottery Commission recently reported record-breaking fiscal sales resulting in a historic $2.16 billion in funding for the Texas Lottery's charitable causes, according to a recent news release.
The record-breaking sales amounting to $8.73 billion achieved from September 1, 2022 to August 31, 2023 allowed the Texas Lottery to make its biggest donation for Texas public education and veteran's services in history. The Texas Lottery attributed its success to the $428.8 million growth in sales, a 5.2% increase from 2022. Overall, sales have grown 39.6% over the last five years.
“The record revenue transfer to the state confirms the Texas Lottery’s unwavering commitment to its mission and pivotal role of supporting its beneficiaries," said Gary Grief, executive director of the Texas Lottery, in the release. "Additionally, this unprecedented accomplishment is a result of a record-breaking sales year that was catapulted by the popularity of the new $100 scratch ticket price point and the good fortune of having several massive national jackpots, which produced increased excitement and participation among our players." The Texas Lottery funds go to support Texas education and veterans.
The increased revenue culminated in a $2.131 billion contribution to the Foundation School Fund and $29.7 million for the Fund for Veterans' Assistance. To date, the Texas Lottery has given $31.8 billion to public education and over $221 million to veterans in the state, according to the release.
With new scratch-off games being added each year, the Texas Lottery reached record-breaking scratch ticket sales for fiscal year 2023 with $6.729 billion, which is a $1.99 million increase from the previous year. Scratch ticket sales also made up the majority of Texas Lottery total sales at 77.1%. This was also a record-breaking year for draw games with $1.996 billion in sales, amounting in a $426.8 million increase from 2022. Over $850 million draw ticket sales accounted for the Texas Lottery's overall sales, according to the release.
Lastly, this was a record-breaking year for players. This fiscal year saw a payout of $5.907 billion in prizes to players, according to the release.