Texas lottery educating the masses

The Texas Lottery Commission has been running ads which explain how the purchase of lottery tickets can be a direct benefit to a child's education. In a happy example of the government giving back to the people, it is true that a sizeable percentage of each ticket purchase is actually funneled back into the education system.

For an example of how they determine how much goes to the TEA, let's use a one-dollar ticket. Sixty cents of it goes to the prize payout. Stores selling the winning tickets and the cost of administering the lottery each costs five pennies. Two cents are earmarked for "unclaimed prizes," which means it goes to the state's general fund to be used as lawmakers determine. As for education, 28 cents are sent straight to that fund set up by the Texas Education Agency.

Wonderful. The education system can certainly use the boost because this little math lesson doesn't seem to be getting though: For every one dollar Texans put into the lottery, they can expect to win back 60 cents.

Truth Test: TX Lottery Puts More Than $8 Billion to Education [woai.com]

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