NEW MEXICO (KRQE) – For 27 years, the New Mexico Lottery has been putting part of their proceeds to funding education. Now, their scholarship and public school capital outlay funds have hit a combined total of $1 billion.
All the profits from New Mexico Lottery tickets help fund in-state college tuition. The money is paid out through the Legislative Lottery Scholarship program.
“Every Lottery ticket sale touches many lives in New Mexico. In addition to more than 144,000 New Mexicans who have already received a scholarship, others win also. Players win prizes, retailers benefit from income that helps them create jobs, and even tax dollars are generated from prizes,” David Barden, New Mexico Lottery CEO, said in a press release.
Over the 2023 fiscal year, the lottery scholarship fund saw record revenue. And the New Mexico Lottery continues to add new games, like scratchers and contests.
While the lottery does provide financial benefits to some New Mexicans, some experts have blamed state-run lottery games for perpetuating gambling addictions across the nation.
