History
America's first lottery was "The Great Virginia Lottery," held in 1612 by the Virginia Company to help fund the Jamestown Settlement; it raised ₤29,000 for the Virginia Company. Lottery proceeds helped establish some of the nation's earliest and most prestigious universities, including Virginia's College of William and Mary and University of Virginia. Lottery funds were also used to build churches and libraries. However, gambling was outlawed in Virginia in 1849.
Virginia voters approved a government-run lottery in 1987. Although some people made the assumption they were also voting on how Lottery profits would be spent, there was no designation at that time. Sales began September 20, 1988. In 1989, the General Assembly directed Lottery proceeds to capital construction projects. From 1990 to 1998, Lottery proceeds went to Virginia's General Fund. Starting in 1999, a provision in Virginia's budget sent Lottery proceeds to local public school divisions to be used solely for educational purposes. In November 2000, Virginia voters approved the creation of the State Lottery Proceeds Fund by an 83.5-point margin. The measure, which is a permanent part of Virginia's Constitution, directs the General Assembly to use all Lottery profits for educational purposes. The Lottery does not control how its profits are spent.
Under Virginia law, all unclaimed prizes go to the Virginia Literary Fund, which is also used for educational purposes. As of 2012, more than $222 million in unclaimed prizes have been transferred to the Literary Fund.
In 2004, retired truck driver J. R. Triplett of Winchester won the largest Virginia Lottery prize to date when he claimed a Mega Millions jackpot worth $239 million (annuity value) for the April 1 drawing. As as March 2013, seven Mega Millions jackpots and one Powerball jackpot have been won in Virginia.
In 2006, the Lottery selected GTECH to provide a lottery central computer system, new terminals, and a new IP wireless communications network, all under a seven-year integrated services contract.
Read more about this topic: Virginia State Lottery
Famous quotes containing the word history:
“The history of the genesis or the old mythology repeats itself in the experience of every child. He too is a demon or god thrown into a particular chaos, where he strives ever to lead things from disorder into order.”
—Ralph Waldo Emerson (1803–1882)
“These anyway might think it was important
That human history should not be shortened.”
—Robert Frost (1874–1963)
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)