Overview of the Michigan Lottery
Tuesday, February 23rd, 2010The Michigan Lottery has been around for 36 years as of 2008, with ticket sales reaching over $2 billion in 2007. The public school system, the main beneficiary of the Michigan Lottery, received almost $750 million in proceeds last year. This fund was created in 1972 to support public education statewide. That payout accounts for 100% of the net profit generated by the lottery. Michigan Lottery retailers received commissions of almost 10% of the total ticket sales, and jackpot payouts accounted for $1.3 billion, nearly 2/3rds of the total ticket sales. Other expenses that the commission must account for in their budget are operating expenses, direct game expenses (tickets, distribution, and the like), and a $1 million contribution to the Michigan compulsive gambling hotline.
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