We’ve all heard that a portion of the proceeds from Powerball goes directly to benefiting California schools, right? But have you ever wondered, just how much of the proceeds are going to our schools?
It turns out, quite a bit. In fact, 40 cents of every dollar sold in Powerball tickets goes toward California’s education budget. During the 2014-2015 fiscal year, California sold approximately $372 million worth of Powerball tickets, which raised an impressive $148.8 million for California schools. In just the last 5 days, California has sold over $150 million dollars in Powerball tickets, bringing in a whopping $60 million dollars for the education budget! This number continues to grow today as people buy tickets for tonight’s drawing.
California State Lottery spokesman, Alex Traverso, commented that right now California is selling more Powerball tickets in an hour, than they usually sell in an entire week. He also stated that sales on January 13th will likely be the best day of sales that that state will ever have.
While we should be grateful for the money our education system receives from Lottery revenues, it should be noted that only %1 of the state’s education budget comes from lottery sales. Additionally, the money must be distributed among several schools, institutions and grade levels; ranging from kindergarten, all the way up to community colleges and public universities.
At REACH Pro Tutoring we are quite familiar with the budget constraints that our teachers are experiencing in their classrooms. You may remember a few weeks ago, we wrote a blog about how some parents are fighting budget restraints by crowdfunding their children’s classrooms. All of our private tutors are credentialed teachers with classroom experience in California, so we can certainly appreciate the need for some. Teachers often go without necessary classroom supplies and learning materials, simply because the budget doesn’t allow for it.
After Wednesday night’s drawing, there will undoubtedly be a lot of disappointed Californians who had dreams of becoming overnight billionaires. We hope that those of you who played the lottery unsuccessfully will find consolation in the fact that your losses will ultimately go to a worthy cause . Good luck everybody!