As people continue to buy $2 tickets to strike it rich; did you know California’s state budget benefits as a result of Powerball sales?
About 40 cents of every dollar in Powerball sales goes toward education.
In the 2014-15 fiscal year, Powerball sales in California were $372 million, which means that nearly $148 million went to the state’s education budget. This includes California’s K-12 schools, community colleges and public universities. So far, ticket sales are at nearly $250 million, which means that about $150 million will go to schools.
CitiCABLE spoke to California State Lottery spokesperson Alex Traverso who says that as long as the jackpot keeps growing, the state’s schools will continue to receive additional dollars. He also says that so many tickets have been purchased these past couple of days that there is a high percentage that a winner will be chosen tomorrow.
State lotteries generate about $68 billion in sales each year.