Oregon schools benefit from record Powerball – KOIN.com
PORTLAND, Ore. (KOIN) — The jackpot for Wednesday night’s Powerball drawing is a record $1.5 billion. And while the winner, or winners, will get a big payout, the state of Oregon does too.
As of Saturday, sales of all Oregon lottery games hit $36.4 million. More than a third of that came from ticket sales for the Powerball jackpot. That weekly sales figure is an Oregon record.
Using last week’s sales figures, KOIN wanted to know just how big of an impact lottery sales can be.
About half of all lottery sales are paid out in prizes and 16% goes to administrative costs. After that, the state of Oregon is left with $15.2 million. A third of that is a direct result of Powerball ticket sales.
Schools in Oregon are the biggest beneficiary of lottery money. They get 58%, or $8.8 million. Much of that is put into a rainy day fund. $3.9 million goes toward economic development and job creation, and $2.8 million goes to parks and natural resources.
And that’s just from one week of sales.