Lotteries: Playing to Lose

MEGA MILLIONS logo

Misleading People

Return on investment

Education

Commercial propagating the myth of the lottery’s supposed benefits towards education
the lottery was implemented in 2005
other includes fines and casino revenue among others

Targets Low Income Households

credit: npr
there is a high correlation between lottery vendors and low income neighborhoods (r² = .78)

Conclusion

Sources

  1. https://www.cbsnews.com/news/who-buys-lottery-tickets-those-who-can-least-afford-them/
  2. https://www.census.gov/data/tables/2018/econ/state/historical-tables.html
  3. https://www.bls.gov/opub/ted/2019/how-much-money-do-americans-spend-on-lottery-tickets.htm
  4. https://www.bankrate.com/surveys/financial-vices-december-2019/
  5. https://www.cbsnews.com/news/who-buys-lottery-tickets-those-who-can-least-afford-them/
  6. https://finance.yahoo.com/news/luck-lottery-winners-gone-bankrupt-143026492.html
  7. https://www.betterhealth.vic.gov.au/health/HealthyLiving/gambling
  8. https://data.census.gov/cedsci/table?q=Table%20S1903%20%282005-2019%29&tid=ACSST1Y2019.S1903&hidePreview=false
  9. https://nccppr.org/asknc-percentage-lottery-money-goes-education
  10. https://www.publicschoolreview.com/blog/do-lotteries-really-benefit-public-schools-the-answer-is-hazy#:~:text=ABC%20Local%20reports%20that%20for,currently%20on%20the%20chopping%20block
  11. https://files.eric.ed.gov/fulltext/EJ809436.pdf
  12. https://www.taxadmin.org/2018-state-tax-revenue
  13. https://www.ednc.org/north-carolina-education-lottery-money-goes-to-education/
  14. https://data.world/data-ny-gov/2vvn-pdyi

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Survival of the Richest

Riding Out the Inflation Storm

Innovation in Pennsylvania

Inflation reveals the need for better insight

Are zero-fee funds truly “free”?

Sustainability, Technology, and Monetary Policy in a Globalised World

Thinking Out Loud About UBI: Economic Strategies

Warren Buffett’s Thoughts on Inflation

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Alex Dong

Alex Dong

More from Medium

26 Online Photo Editing Apps To Make Your Photo Editing Easy — 2022

I have no idea what to write…

Divisional Sunday Locks

Celebrity Skincare Brand Spotlight: LOOPS Beauty by Emily Ratajkowski