Iowa and Illinois Cash in With Powerball Sales
The big winner may be in Missouri or Arizona but both Iowa and Illinois come up big after the crazy night of Powerball sales. For every ticket sold, because about a third of the profit stays in the state.
Profits from Powerball and Mega Millions go straight to funding various causes in each state. In Illinois, a big chunk of money will head to state aid for schools. As of Wednesday afternoon, that total was more than 22 million dollars to be added to that fund.
Iowans are winning big as well. About $0.35 of every dollar sold on tickets will stay in the state. Iowa was already getting 1.7 million just from Wednesday night’s Powerball jackpot. Last year – there were about 79 million dollars in proceeds.
The proceeds in Iowa go to a general fund that is then later distributes to various causes.