Where do profits from the Colorado lottery go?
Last Updated: 378 days ago
DENVER - 7NEWS is asking how and where the money raised by the Colorado Lottery is spent.
So far in 2012, the lottery has raised $123,249,476 for beneficiaries.Of that total, up to half is given to Great Outdoors Colorado. Funded solely by the lottery, it pays for outdoor projects in every Colorado county. Its board decides where the money is spent, not the lottery commission.
"We do not have a position on how the money is spent. Our job is to raise the money. And distribute it on how the voters have voted," said Colorado Lottery spokeswoman Heather Black.
In 1992, voters approved a measure designating lottery funds to be used for outdoor and wildlife projects.
Another 40 percent is allocated to the state's conservation fund. Ten percent is given to Colorado state parks.
The leftovers are used to pay for school construction and repair projects.
Lottery officials than 75 percent of states use lottery money for education.
Colorado is one of the unique exceptions.
"People come to visit our state all of the time, so it's a important thing not only for our residents, but also for our economy to have beautiful state parks, trails to get tourists here," said Ms. Black.
In order for the funding to be changed, voters must approve a ballot measure.
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