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Government run lotteries that prey on the degenerate gamblers among us. These have go to go. What is the moral argument, that it keeps money out of the hands of so-called 'organized criminals'? This is a lesser of two evils type choice? Pathetic. No, I don't have a real problem with private gambling interests. It'll be a damn shame if Itulip is right and Vegas eventually shuts down. I enjoy placing the occasional wager on an athletic event.
Many states' lottery sales are rising in recession
By JUANITA COUSINS – 1 hour ago
"Someday somebody is going to win and I hope it is me," said Albert Atwood of Nashville, who spends $100 weekly playing the Pick 5 and Lotto Plus. "I imagine that I would be a heap better off if I saved this money, but everybody has dreams."
Driven by regulars like Atwood and a growing number of occasional players, 25 of 42 states with lotteries have experienced higher sales of scratch-off and daily lottery games since July, according to Scientific Games, a maker of scratch-offs.
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Scientific Games CEO Lorne Weil said states are doing whatever they can to keep sales from falling. "They are consciously working with us to launch new programs, offer tickets at new price points and increase the number of retail outlets," he said.
By law, many states' lottery revenues are designated toward education, parks or recreation and cannot be put into the general fund to help meet budget shortfalls in other areas.
Two out of every five states with lotteries are experiencing falling sales, according to Scientific Games' research.
A Rockefeller Institute of Government study released in June says that revenue is at an all-time high but growth has slowed to about half of its long-term annual growth rate of 5.1 percent.
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John L. Mikesell, a professor at Indian University, published a study in 1994 illustrating lottery sales rise with unemployment rates. "When times are tough, the prospect of spending $1 on a remote chance to potentially change your life is appealing," Mikesell said.
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Here is the Rockefeller Institute report: From a Bonanza to a Blue Chip? Gambling Revenue to the States Lucy Dadayan, Nino Giguashvili, and Robert B. Ward
Here is Professor Mikesell's report: State Lottery Sales and Economic Activity
Many states' lottery sales are rising in recession
By JUANITA COUSINS – 1 hour ago
"Someday somebody is going to win and I hope it is me," said Albert Atwood of Nashville, who spends $100 weekly playing the Pick 5 and Lotto Plus. "I imagine that I would be a heap better off if I saved this money, but everybody has dreams."
Driven by regulars like Atwood and a growing number of occasional players, 25 of 42 states with lotteries have experienced higher sales of scratch-off and daily lottery games since July, according to Scientific Games, a maker of scratch-offs.
[..]
Scientific Games CEO Lorne Weil said states are doing whatever they can to keep sales from falling. "They are consciously working with us to launch new programs, offer tickets at new price points and increase the number of retail outlets," he said.
By law, many states' lottery revenues are designated toward education, parks or recreation and cannot be put into the general fund to help meet budget shortfalls in other areas.
Two out of every five states with lotteries are experiencing falling sales, according to Scientific Games' research.
A Rockefeller Institute of Government study released in June says that revenue is at an all-time high but growth has slowed to about half of its long-term annual growth rate of 5.1 percent.
[..]
John L. Mikesell, a professor at Indian University, published a study in 1994 illustrating lottery sales rise with unemployment rates. "When times are tough, the prospect of spending $1 on a remote chance to potentially change your life is appealing," Mikesell said.
*****
Here is the Rockefeller Institute report: From a Bonanza to a Blue Chip? Gambling Revenue to the States Lucy Dadayan, Nino Giguashvili, and Robert B. Ward
Here is Professor Mikesell's report: State Lottery Sales and Economic Activity