Watch Virginia Lottery Director Khalid Jones announce that the Virginia Lottery’s fiscal year 2024 profits exceeded $934 million, the highest in its 36-year history. All profits from the Lottery go towards supporting K-12 public education in the Commonwealth.

https://youtu.be/a7huhRLTcXM

Since 1999, Virginia Lottery profits have generated over $12 billiion for Virginia’s K-12 public schools. 10% of the Virginia K-12 education budget comes from the Lottery. The record profits in FY24 were driven by over $5.5 billion in sales, the highest ever. Tickets were purchased at over 5,300 businesses and online, and retailers earned $142 million in commissions and bonuses. Of that $5.5 billion, players received $4.2 billion in prizes, with 77 cents returned for every dollar spent. The Lottery also recorded a low administrative cost rate of 3.8%, which will be finalized after a standard audit by the Auditor of Public Accounts.

The Virginia Lottery website has unofficial reports of the amounts received by each locality in FY24. The distribution is determined by the approved state budget, and based on factors like student enrollment and prioritized programs.

Fredericksburg City Schools     $2.6 million
Stafford County Schools           $18.4 million,
Prince William County Schools    $64.7 million
Manassas City Schools     $8.8 million
Spotsylvania County Schools    $16 million.

Virginians voted for a state-operated lottery in 1987, with the use of lottery proceeds to be determined by the General Assembly. The use of the proceeds has changed over time. In 1989, Lottery proceeds were dedicated to capital-construction projects, then 1990 to 1998, they were transferred to the state’s General Fund. In 1999, a state budget amendment sent Lottery proceeds to local public-school divisions to be used solely for educational purposes.

In 2000, more than 80% of Virginia voters said yes to the creation of the State Lottery Proceeds Fund, which is now a permanent part of the state constitution directing all Lottery profits to be used solely for education purposes.

https://www.potomaclocal.com/2024/08/08/governor-youngkin-announces-historic-virginia-lottery-profits/