Michigan Lottery to send nearly $889M to schools in 2016

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LANSING, Mich. (AP) — Michigan Lottery officials say nearly $889 million will be contributed the state’s School Aid Fund in 2016, a year after it contributed a record of $795.5 million.

MLive reports that lottery officials said in a news release Monday that its 2016 performance made it the fastest growing lottery in the U.S.

Officials said the lottery had its most successful year as a result of record-setting jackpots for Powerball and instant lottery games reporting double-digit growth. The state has paid out more than $1 billion in winnings this year.

Each dollar in tickets sold contributed 29 cents to the School Aid Fund, 59 cents to prizes for players, 9 cents to commissions for vendors and retailers, and 3 cents to the Lottery’s ongoing operations and administrative costs.

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Information from: The Ann Arbor News