Why you really should play the NYS Lottery?
Really, it’s all about the education. Beginning in 1966, the NYS Lottery has assisted the New York education system with funds gleaned from lottery sales. With a mind-boggling $45 Billion dollars to date, the NYS Lottery remains a highly profitable venture and still the most successful lottery operation in the country.
So whether you’re playing one of the huge multiple state games, trying your chance at smaller draw ticket, or playing one of the nearly 50 instant win scratch-off games, a little piece of each sale goes to fund your child’s education.
But, how does all that money shake down' You don’t have to worry about only particular schools getting all the money. The NYS Lottery payout works on the same distribution and allotment terms that all regular State education funds follow; utilizing demographics and census statistics for the best usage of the lottery funds.
All of this goes to help pay for better quality teachers, state of the art equipment, new textbooks, and advanced studies programs. Up until 2009, the NYS Lottery funded the LOT Scholarship. While the scholarship program has ended, the people awarded scholarships will still receive funding until those amounts are complete. These funds, combined with the legislated school budgets, guarantees that New York can continue to offer a quality education for their residents.
But, how much are we really talking about? Truthfully, it varies a bit. It is known that there is a direct correlation between the economy and lottery sales, and the NYS Lottery is no different. Depending on the health of the Nation, lottery sale can go up or down. Simply put, the worse the economy ' the higher the lottery sales. Recent years have seen a dramatic decline in discretionary spending Unfortunately, reduced spending means less state sales tax to work with which accounts for about 55% of the education budget.
Thankfully, everyone wants the chance to get rich. So where some might not spend as much at the retail outlets and have slowed their spending in general, chances are they will spend a buck for a lottery ticket for the chance to strike it big. Recent years have shown an increase in the education payout with the 2011 year putting well over two billion dollars into the State education accounts. That accounts for nearly 15% of the education budget.
That $2 Billion+ is one of the reasons the NYS Lottery is so successful. Studies have shown that states which use the lottery winnings to fund education are much more successful that states which do not. In a time where our country’s youth are falling lower and lower in global education standards, Americans are looking for any opportunity and edge to get us back on top. As states find it harder to split the tax dollar pie into miniscule slices, they see these education windfalls as the answer ' or at the very least a step in the right direction.
So, as the old saying goes – 'If you don’t play, you can’t win'. I guess you could say from an educational standpoint 'If we don’t play, no one will win'.