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|South Carolina Education Lottery Sets New Records
8/4/2014 3:12:02 PM
COLUMBIA, SC (August 4, 2014) – The South Carolina Education Lottery (SCEL) is setting new records. Fiscal Year 2013-14 saw record ticket sales and record deposits into the Education Lottery Account. SCEL also paid more to players in prizes and more to retailers in commissions. FY14 tied last fiscal year as the most cost effective year as the Lottery maintained low operating expenses.
Education Lottery Account transfers grew $23 million from last year to $323.4 million resulting in the most highly funded year for Education Lottery Account-funded educational programs. More than $3.4 billion has been transferred to education since the Lottery started in 2002.
Lottery customers walked away with more than $811.1 million in prizes during FY 2013-2014, a ground breaking amount in winnings most likely resulting in the most smiles on lottery players’ faces as well.
Lottery retailers saw record commissions from their lottery sales. More than $89.2 million was earned by lottery retailers in commissions and incentives in FY 2013-14.
Cost effectiveness in FY14 tied the prior fiscal year as the most efficient year for operating expenses which were $37.1 million. This amount includes all operating costs including game costs.
Overall lottery revenue resulted in more than $1.26 billion in ticket sales, permit fees and other items. This year’s ticket sales outgrew last year’s sales by $66 million.
The South Carolina Education Lottery is committed to providing needed educational funding for the citizens of the Palmetto State.
Proceeds from every dollar spent by players on the South Carolina Education Lottery are returned to the state in the form of funding for education, prizes, retailer commissions, and payment to contractors for goods and services.
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