Virginia Lottery reaps record profits year
The Virginia Lottery had sales of more than $2.29 billion and profits of nearly $650 million in its last fiscal year, representing a new record for the state lottery.
Profits recorded for the 2019 fiscal year, which ended June 30, are 7% higher than the previous record, set in fiscal 2018, of $606 million.
The final, audited results will be released in August.
Lottery revenue represents about 10% of Virginia’s education budget.
The Virginia Constitution requires that all lottery profits be deposited in the Lottery Proceeds Fund, from which the General Assembly makes appropriations for K-12 public education programs.
About 5,300 Virginia retailers sell lottery tickets, earning nearly $130 million in commissions and incentives in FY 2019.
Lottery players won more than $1.4 billion in prizes in fiscal 2019, including 45 tickets that each won at least $1 million.
Virginia’s two biggest wins of the year were both for $10 million.