Powerball jackpot is up to $700 million, but where does all the money go?

How much money from a powerball ticket goes toward education

Do you have your ticket?

The Powerball jackpot is up to $700 million, making it the second-largest lottery jackpot in US history.

With people lining up to get tickets, we wondered, where does all the lottery money go?

To get your hands on a Powerball ticket, it'll cost you $2.

According to The Ohio Lottery's website, proceeds support local schools.

For every dollar spent on lottery tickets, only 28 cents stays in state.

The winners gets 60 cents.

The remaining money is split between running the lottery and Lottomatica, a private Italian-based conglomerate that operates lotteries and slot machines in 50 countries around the world.

The state won’t say how much from the lottery goes to school districts.

William Phillis, who runs the Ohio Coalition for Equity and Adequacy of School Funding, told WKYC that belief that you're doing something good for schools by buying a lottery ticket doesn’t quite add up.

 

© 2017 WKYC-TV


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