The Benefits of Playing the Lottery
The statewide lottery referendum in North Carolina failed in 2002 because the state’s House of Representatives voted to prevent it. However, a Mason-Dixon Polling & Research poll shows that 58% of North Carolinians support it. In addition to winning, lottery players also benefit from a tax break. In a 2003 Democrat-Gazette poll, 51.9% of voters said they supported the lottery for educational purposes.
Number of people playing
Statistics show that the number of people playing the lottery has increased significantly over the past few decades, especially among those in their early twenties and thirties. This number hovers around 70% among these age groups. However, it drops to about two-thirds by the time people reach their forties and fifties. Among those 70 and older, only 45% play the lottery. Interestingly, men are more likely than women to play the lottery – they play the lottery on an average of 18.7 days each in the past year.
Odds of winning
If you have ever wondered what the odds of winning the lottery were, you’re not alone. While it’s unlikely that you’d have a millionaire overnight, the odds of winning a PS2 lottery are much higher than that of becoming the first female president of the United States. For example, there’s a one in one, 555,555 chance of Kim Kardashian becoming the first female president. On the other hand, it’s much more likely that you’ll find a four-leaf clover. That’s four and a half times higher than winning the lottery.
Impact on state governments
While Benjamin Harrison warned against the impact of state lotteries, they have now become the most important advocates for the practice. As a result, forty-four states have enacted some sort of lottery. Alabama, for example, hopes to bolster its budget by introducing a lottery to fill a $200 million budget gap. But critics are wary of its potential to boost public education spending and drive down state debt.
Impact on retailers
The U.S. lottery raked in $64 billion last year, with 60 percent of sales occurring at c-stores. Nearly 90% of retailers believe that the lottery offers significant growth potential for their business. In addition, four out of five lottery retailers have observed a spike in sales when jackpots reach a high point. Retailers can take advantage of this growth opportunity by increasing lottery sales. But beware of the negative effects. The following are some tips to help your business survive this new trend.