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Losing lottery tickets not total waste
Public education, Veterans Commission benefit
Updated: Wednesday, 28 Nov 2012, 6:47 PM CST
Published : Wednesday, 28 Nov 2012, 4:23 PM CST
AUSTIN (KXAN) - Most everyone who plays will lose their Powerball dreams on Wednesday night, but that does not mean their money was wasted.
The Texas Lottery says they have contributed $14 billion over the last 14 years to public schools in the state.
For every dollar spent on a lottery ticket, 25 cents goes to the Foundation School Fund to help public education.
Most of the money -- 63 percent -- goes towards winner payouts or is added to the jackpot. Ten percent goes back to the lottery administration and the ticket retailers.
Unclaimed winnings are given to other state programs including the Texas Veterans Commission.
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