A Bad Economy Is Good For Florida Lottery Sales, School Budgets

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In a down economy, Florida Lottery sales were up. That means more money for schools and college scholarships.

Those down and out in a bad economy often turn to the lottery for a glimmer of hope.

Florida is no different and state officials said they set a new record for sales in the budget year which ended June 30.

More ticket sales are good news for schools, and lottery officials said they expect to transfer $1.31 billion to a state education fund.

The jump in sales means the lottery will send an additional $440 million to schools next year above what was contributed the previous year.

That money pays for Bright Futures scholarships, K-12 programs, higher education programs and construction.

“Our organization exists for one reason – to contribute to education funding in Florida,” Lottery Secretary Cynthia O’Connell said in a press release. “We are very proud of our unprecedented transfer to the Education Enhancement Trust Fund this year. On behalf of the entire organization we thank our players and our retailers for making this an extraordinary year.”

Check out the history of Florida Lottery transfers below.