VIRGINIA – Virginia lottery had a successful month in March, even at the time when the agency suspended its TV and radio advertisement in honor of National Problem Gambling Awareness Month. In the past, there had been instances when advertisement went off-air but this March had brought $768 million jackpot in a complete ad-free month. It was for the first time that the Lottery suspended Tv and radio advertisement for the full 31 days in March. Not just this, the lottery company also had noticed the highest scratcher sales in history, revealed Deborah Courtney, director of finance for the Lottery.
Virginia lottery had a net profit of $500 million by the end of March, after cutting operating costs and money spent on prizes. And this year, the profit just crossed all the limits which would simply make a huge contribution to funding for K-12 public education for Virginia schools. In the past, the lottery had spent about $1.5 million per month for a time period of several months. Only advertisements such as billboards were there for the month where there was no investment for TV and radio advertising. Similar to this, Ohio Lottery has also been popular for making a huge profit and funding for the public education of students in the US.
Still, the fiscal year is not closed so there could be an increase in the profit. And out of the total profit of $500 million, the Lottery has distributed $435 million for the proceeds fund to allocate to local school districts. Out of the remaining sum, $5 million has been allocated for Literary Fund which would be used for school capital costs such as infrastructure and technology development.