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TAMPA, Florida (FloridaToday.news) — In celebration of National Lottery Week, the Florida Lottery looks back on the billions of dollars it has paid out and the thousands of millionaires it has created in the process.
The Florida Lottery reports that nearly 99% of its lottery game revenue is reinvested back into the Sunshine State economy through prize payouts, retailer commissions and education contributions. In fact, only 1% goes to lotteries, making Florida one of the most efficient lotteries in the country.
Since ticket sales began on January 12, 1988, the Florida Lottery has paid out over $87.5 billion in prizes. Approximately $44 billion has been directed to improve education in the state, resulting in more than 950,000 students going to college through the Bright Futures Scholarship Program.
The Florida Lottery alone has also made over 3,500 millionaires.
The largest Powerball winning prize ever sold in Florida went to the Nickel 95 Trust in Melbourne Beach. The jackpot was about $1.5 billion. The winner chose the cash option of $327,835,077.79.