"No man can become rich without himself enriching others"
Andrew Carnegie



Saturday, May 26, 2012

The Good And Bad Of National Lotteries

English: The official title artwork for the up...
English: The official title artwork for the upcoming film "The Lottery" (Photo credit: Wikipedia)
Lotteries and prize draws are big businesses throughout the world, and entice significant annual investments from individuals who dream of scooping a huge and potentially life-changing cash prize. In the United States, the Mega Millions and Powerball lotteries have become a key feature of monthly consumer expenditures. According to the North American Association of State and Provincial Lotteries, Americans spent a total of $50.4 billion on lottery tickets and video lottery terminals during 2009 alone.
The profits generated by national lotteries are therefore understandably huge, with a total of $17.6 billion recorded across all participating U.S. states in 2009. This rose even further to $17.9 billion in the financial year of 2010, as Americans invested their hard-earned wages in pursuit of the ultimate cash reward. With the stakes so high and the chances of winning so minimal, however, is participating in the lottery a waste of cash or simply a high-risk investment opportunity that is worth a weekly gamble?... Continue to read.


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