SCEL recognizes that each lottery dollar transferred to the Education Lottery Account is critical to enhancing educational opportunities. For fiscal year 2011-12, for every dollar that we gross, 63.3 percent is paid as prizes to winners. The retailer commissions equate to 7 percent of every dollar. Of the total amount, 3.3 percent pays for a combination of administration costs, gaming contract costs, and advertising to promote product sales. The residual portion, 26.4 percent, is transferred to the Education Lottery Account.
By statute, SCEL’s administrative percentage and the 7 percent mandated retailer commission must not exceed 15 percent. SCEL is currently operating at well below the mandated percentage.
Other financial data indirectly related to the Lottery
Indirect lottery financial data that has a bearing on state government include the following:
· More than $68.8 million withheld in S.C. Income Tax from lottery winnings*
· More than $1.1 million collected in debt set-off and unpaid child support*
* Dollar figures reflect the period of January 7, 2002 - June 30, 2012. Proceeds are transferred to the S.C. General Fund to be appropriated by the General Assembly.
It is our desire that South Carolinians view our agency as a resource for education and a fiscally conservative, socially aware business enterprise.