Wed, Nov 23, 2022 3:51 PM
By Kim Jarrett, The Center Square
Arkansas residents spent $2.1 million more for lottery tickets in October than the same month last year, according to an update from the Arkansas Senate.
Much of the interest was sparked by the record Powerball jackpot, which swelled to $2 billion. Powerball ticket sales increased to $5.7 million in October from $3.1 million during the same period last year.
The winning Powerball ticket was sold in California and awarded on Nov. 7.
Sales of scratch-off tickets remained flat, according to lottery officials. High fuel prices, which leaves people with little extra money to spend, could be the reason for lackluster scratch-off sales, according to state officials.
Proceeds from lottery ticket sales fund scholarships for Arkansas college students. The first four months of fiscal year 2023, the lottery has funded $36.2 million in scholarships, up from $32 million during the same time period last year.
The record-setting Powerball increased collection projections by state officials this fiscal year by $10 million. The original projection was $91.4 million for fiscal year 2023.
The lottery awards an average of 30,000 college scholarships annually, according to state officials. Last year 28,715 were awarded due to declining enrollment numbers.