ESTIMATE OF WHERE LOTTERY DOLLARS WILL BE SPENT

Source:  NC Spin ( assuming $1 billion in annual revenues )

 

The lottery bill says the lottery operator gets up to 8%.                                      $ 80 million

The lottery bill says 1% can be spent on advertising and promotion                    $ 10 million (for our media friends )

 The lottery bill says retail outlets get 7%.                                                           $  70 million

The lottery bill allows 50% for prizes.                                                                $ 500 million 

Total ( so far )                                                                                                  $ 660 million

Of the remaining amount ( $ 340 million ):

5% is designated to the state “Rainy Day Fund”                                                $   17 million

50% to Gov. Easley’s “More at Four”                                                              $ 170 million

40% to be split among 100 NC counties for school

construction  (using formula tied to property taxes )                                           $ 133 million

3.3% to higher education scholarships                                                               $   33 million

Grand Total                                                                                                      $  1.01 billion