How Popular is the Lottery?
Lottery is a game that makes people feel like they have a chance to win, even though the odds are very long. This sense of meritocratic opportunity, coupled with the idea that someone must eventually win the lottery, fuels a lot of state lottery participation. The resulting revenue is a significant source of state government funds. However, lottery popularity and adoption tend to ebb and flow, independent of the overall fiscal health of states.
The practice of distributing property or other prizes by lot can be traced back to ancient times. For example, the Old Testament gives instructions on dividing land by lot, while Roman emperors used lotteries to award slaves and other prizes during Saturnalian feasts. One of the earliest recorded lotteries to sell tickets was in the Low Countries in the 15th century, with town records showing that lottery games raised money for building walls and town fortifications.
The modern state lottery began in New Hampshire in 1964, with the first New York lottery following in 1966. Since then, lotteries have spread to nearly every state in the United States. While the popularity of state lotteries has ebbed and flowed, they have consistently won broad public approval. Clotfelter and Cook note that the public generally supports a lottery even in times of fiscal stress, when the objective fiscal condition of a state government does not seem to matter much to people’s decision whether or not to participate.
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Source: This article was originally published on Village San Clemente
About the Agent
Jim Flores is an accomplished real estate professional providing services as both agent and broker for over 13 years. His extensive knowledge of the Southern California real estate & mortgage market has allowed him to provide an outstanding level of client satisfaction to his clientele. As co-founder founder of Sea Sell Realty Jim is committed to personalized service. His goal is to exceed client needs by applying his expertise to all aspects of the real estate industry including sales, property management, consulting, training and real estate technology. For example, Jim’s use of technology benefits his clients by utilizing tools that make transactions client friendly: electronic signing, social media ads, paper less transactions and iPad essentials.
Offering expert Home Buying and Selling Real Estate Services in: San Clemente, The Pier Bowl, Laguna Niguel, Dana Point.
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