Colorado Lottery: Where the money goes – 9NEWS.com
9NEWS at 5 p.m. 01/12/16.
Nick McGill, KUSA
5:47 p.m. MST January 12, 2016A customer holds Powerball tickets(Photo: Getty Images)KUSA – As thousands of Coloradans continue to pour money into the lottery you may be surprised to know that not all the money used to buy tickets goes into the jackpot winnings.Brooke Christopher with the Colorado Lottery says 24 cents of every dollar spent on the lottery goes right back into Colorado.“Everything from the dog parks, the trails, the skate parks—all the open spaces that we see and enjoy in Colorado,” Christopher said.Here’s how the numbers break down:62 percent of the money from every dollar spent on the Colorado Lottery goes to prizes. In fiscal year 2015 that was more than 300 million dollars.Another 24 percent goes to three state beneficiaries: Great Outdoors Colorado took, Colorado Parks and Wildlife, and the Department of Local Affairs, Administration of the Conservation Trust Fund.In 2015 that meant Great Outdoors Colorado took in just under 62 million from the lottery. Colorado Park and Wildlife took in over 13 million and the Department of Local Affairs took in over 51 million.7 percent of the leftover money goes to the local retailers and another 7 percent goes back into Colorado Lottery to pay for administrative costs.Christopher says the latest Powerball jackpot, which started in November, has already generated more than 40 million dollars of ticket sales in Colorado—a number that will surely grow before Wednesday’s drawing.“That’s just 20 consecutive draws within one game, the game of Powerball.” Christopher said.Since 1983, when the lottery began in Colorado, the state has brought in roughly 2.8 billion dollars for outdoor projects across the state.(© 2016 KUSA)Read or Share this story: https://on9news.tv/1RkLeAv – Click Here To Visit Article Source