How Much of That Lottery Money We’re Spending Actually Goes to Schools?

Michiganians are dropping a lot of cash, gobbling up Powerball tickets left and right in the hope of winning tonight's (11/7) record-setting jackpot. But where does that money go?

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Powerball by the Numbers

According to the Michigan Lottery, lottery players across the state have bought more than 3.5 million tickets for tonight's drawing. The last time someone won the Powerball jackpot was August 3, which means the jackpot has rolled over 40 times since then.

Lottery officials say that Michigan players have purchased more than 43 million tickets since the Powerball jackpot began rolling over. They've paid out about $17 million in prizes, including eight $1 million prizes.

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A Real Boost For the Michigan School Aid Fund

According to Michigan Lottery Officials, about 28 cents from each dollar spent on lottery tickets goes to the school aid fund. Here's the official breakdown:

For each dollar spent on lottery tickets:

• Approximately 61 cents is paid out in prizes
• Approximately 28 cents goes to the school aid fund
• Approximately 9 cents goes to retailers across the state for vendor commissions, and
• About 2 cents goes toward lottery operations in our state.

Jake Harris is the Player Relations Manager for the Michigan Lottery. He says last year the lottery contributed $1.419 billion toward the school aid fund. He notes that the lottery is on pace to contribute over $1 billion to the school aid fund again this year, which will be the third year in a row.