Idaho Lottery presents $48.5 million dividend

The annual dividend from ticket sales was doled out Thursday.

BOISE-- The Idaho Lottery presented a check made out to The People of Idaho for this year's dividend during a ceremony Thursday afternoon. Many can only dream of getting a check from the Idaho Lottery for this amount, but this check doesn't benefit just one person. Instead, it will benefit Idaho Public Schools and the Permanent Building Fund.

The check for this year's dividend was for $48.5 million. Idaho Lottery Director Jeff Anderson says checks like this are the reason the Idaho Lottery exists.

Anderson said, "The lottery was established in 1989 for the benefit of the people of Idaho and this last year we had another record year in sales, almost $240 million and a 48 and a half million dollar dividend to the people of Idaho. That's why we do what we do."

According the the Idaho Lottery website, for every dollar the lottery receives from ticket sales, about 25 cents goes toward the annual dividend. Out of that money, 50 percent is given to the Public Schools and the other 50 percent is given to Permanent Building Fund.

During the ceremony, Lt. Governor Brad Little presented Superintendent of Public Instruction Sherri Ybarra a $30,312,500 dividend check. Of that, $18,187,500 is designated for the Department of Education and the districts in their public schools and the remaining $12,125,000 goes to the Department’s Bond Levy Equalization Fund. Since establishment, the Idaho Lottery has contributed $433.15 million to these accounts in support of Public Education in Idaho. 

Little also presented Jan Frew, the Department of Administration’s Director of Public Works, with a dividend check for $18,187,500. The Idaho Lottery has given $359,350,000 to support Idaho’s permanent buildings since 1989.

Anderson says that delivering this dividend check comes in a close second to only one thing.

"This is almost as much fun as when I give a big check to a player. But, this is important. We do important work," explained Anderson.

The numbers for the next Mega Millions jackpot will be drawn Friday, July 7. The estimated jackpot is $186 million.

Anderson reminds players to play responsibly.

© 2017 KTVB-TV


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