What is a Lottery?
Lottery is a game in which numbers are drawn at random and, if you match some or all of the winning numbers, you win. Some people buy tickets for the big jackpots, while others play smaller games with lower prize amounts. Many players choose their own numbers, but you can also play a “quick pick” lottery and let the ticket machine select your numbers for you. The prizes for winning are paid out in the form of a lump sum or annuity payments. To make sure that the prizes can be paid, the New York State Lottery purchases special zero-coupon U.S. Treasury bonds known as STRIPS (Separate Trading of Registered Interest and Principal of Securities).
Throughout history, lotteries have been an important source of money for states. They have been popular in times of economic stress, when people fear tax increases or cuts in public services. They have also gained broad public approval when the state’s financial situation is actually healthy.
The lottery is popular because of its low risk and high rewards. However, it is important to remember that, as a group, lottery players contribute billions in taxes to government receipts they could have saved for other purposes such as college tuition or retirement. And the low-income individuals who are most likely to participate in the lottery spend disproportionately large amounts of their income on tickets. This can be a hidden form of taxation, especially for those who win the lottery.
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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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