The Georgia State Lottery, which is one of the biggest lotteries in the country, announced that it generated $376,513,000 in profits in the second half of the fiscal year 2022. This brings the total gambling contribution to the Treasury’s Lottery for Education Account to more than $24.6 billion.
These lottery profits make a huge difference
The Georiga State Lottery is having a great fiscal year, generating $741,296,000 in the first half alone. This is huge news for the state of Georgie and its educational infrastructure. The young people and their teachers truly prosper as all lottery profits go back into the schools.
“With their largest Q2 transfer ever, the Georgia Lottery continues to make an immeasurable impact on the lives of Georgia’s students and their families,” said Governor Brian Kemp. “By continuing to invest in our state’s most important asset, its children, Georgia is raising a generation of leaders capable of keeping our state the best place to live, work, and raise a family.”
Bringing HOPE to future generations
One of the biggest programs benefitting from the lottery’s funding is Georgia’s HOPE Scholarship Program. To this day, more than 2 million students can call themselves HOPE aid recipients. Additionally, more than 1.6 million 4–year–olds have attended the statewide, voluntary prekindergarten program with HOPE’s help.
“Our first half achievements provide a solid start to the fiscal year, as we continue to work diligently for Georgia’s students and their families, who rely on HOPE and Pre-K,” Georgia Lottery President and CEO Gretchen Corbin said. “I am so appreciative of Governor Kemp, our board of directors, and the legislature for their support. I also would like to thank our dedicated employees, retailers, vendors, partners, and players for their continued support.”
What Exactly IS Georgia’s HOPE Program?
The legislation for HOPE was first written in 1992, under the supervision of Governor Zell Miller. The program launched in record timing just one year later! Its main goal remains in providing assistance toward the cost of tuition at eligible Georgia postsecondary schools.
HOPE’s funding is historically (and presently) through the Georgia State Lottery. As a result, it’s provided more than $10 billion of financial assistance for educational programs beyond high school.
HOPE consists of six different aid programs:
- Scholarship (HOPE)
- Grant (HOPE)
- Zell Miller Scholarship
- Zell Miller Grant
- GED Grant (HOPE)
- HOPE Career Grant
Each of these aid programs has different requirements, which are found on Georgia’s official state website.
How Else Does The Georgia State Lottery Spend Their Money?
In the Fiscal Year 2021, the Georgia State Lottery made approximately $4.4 billion dollars. Here’s how the profits break down:
- $3.71 billion was paid back out to players as prizes
- $1.54 billion was given as funding to schools and other education programs
- $342.9 million was given as commissions to retailers
- $210.9 million was spent on other gaming and operating expenses
Photo Credit: Shutterstock.com/Graph1c
