Record Lottery profits to education
RICHMOND, VA – Governor Glenn Youngkin today announced that the Virginia Lottery’s fiscal year 2024 profits were the highest in the Lottery’s 36-year history, totaling more than $934 million to support K-12 public education in the Commonwealth.
“Over the course of my administration, we have been able to achieve record funding for K-12 education, allowing for increased opportunities in the classroom,” said Governor Glenn Youngkin. “I am so thrilled these record profits will help provide the necessary support and resources for Virginia’s students. Approximately 10 percent of Virginia’s K-12 education budget comes from Virginia Lottery profits that assist in funding public schools.”
“The record profits are a byproduct of every Lottery employee’s extreme dedication to our mission of contributing to our K-12 public schools one play at a time,” said Lottery Executive Director Khalid Jones. “We are pleased that the Lottery was able to deliver for the Commonwealth once again, and in an even bigger way than ever before.”
“Every school district in the Commonwealth benefits from the Lottery Proceeds Fund,” said Secretary of Education Aimee Guidera. “Several vital K-12 education programs are supported and approximately one-third of the profits provide discretionary funding for each school district to determine their priority needs.”
The record profits were driven by record sales of more than $5.5 billion in the fiscal year that ended June 30. People who chose to play did so at one of more than 5,300 businesses across Virginia, or online through either the Lottery’s mobile app or at valottery.com.
“Virginia businesses that partner with the Lottery by selling tickets earned more than $142 million in sales commissions and bonuses in FY24, a record amount,” said Virginia Lottery Board Chairman Ferhan Hamid. “Customers who buy Lottery tickets at retailers typically make other purchases as well. The Lottery is good for Virginia businesses.”
Of the $5.5 billion in Lottery sales for the year, a record $4.2 billion went back to players as prizes. That means for every dollar spent playing Virginia Lottery games, approximately 77 cents went back to players.
Though the highlights are record-breaking sales, profits and retailer commissions, the Lottery also saw a record low rate for administrative costs, operating at an efficient 3.8 percent of sales. These results are not official until the Auditor of Public Accounts completes their audit and certifies the final Lottery profit figures later this month.
For a complete list of Lottery funds distributed to Virginia school districts, visit the Virginia Lottery’s Giving Back page. For general information or to play games online, visit the Virginia Lottery’s website or download the Lottery’s app. Here you can find more details about sports betting and casinos. Connect with the Lottery on Facebook, X, Instagram, or YouTube.
With all gaming, the Virginia Lottery reminds everyone to please Play Responsibly.