Future of Lotteries

Posted on December 30, 2017Posted in Future of Lotteries

In late 2000, there were only eight states in America which had legalized lottery playing. In other states no type of gambling was permitted and was completely banned from the constitution itself. There were many states where besides lottery there are tremendous other activities like gambling and casino which were very prominent in these states. In these states, people do not nor have minimum interest in lottery playing. There were lotteries held in such states but due to severe or heavy losses faced by the government, they completely stopped doing so. Now the government is continually trying to revive lottery playing in their states because of the revenue it generates and after observing the profits made by other states, they feel to revive it and make more profits and use it accordingly.

Every person playing the lottery wants to hit the jackpot. This is the major problem which is faced by the lottery industry. People here have a serious jackpot fatigue. The customers of lotto demand higher and higher jackpots in lottery results so that it builds the excitement ten folds in the game. Here the individual states cannot just hike the price of the jackpots or cannot control the sales of the lottery tickets. Here the portion of the profit goes to public funding and manipulating with these numbers is very difficult. There are certain laws maintained in certain states that they cannot exceed the prize money of lottery resultsbeyond a certain amount. This will lead to more corruption and people will devise selfish means to win the lottery. But, still the jackpot fatigue is increasing the membership of the state lotteries and games like Powerball and Mega Millions are played in order to fetch a huge amount of jackpot.

In these lotto games, the probability of winning the lottery is very less. But again due to the jackpot fatigue, people go for the purchase of such heavily priced tickets and get severely disappointed if they do not win the jackpot.

The government tries to cope up with the jackpot fatigue, but still the state lotteries face immense pressure to increase the amount of the prize money. Here the states are even decreasing their lottery payouts amount in order to raise a substantial amount of fund. But again if cutting down prizes of the lottery would lead to fewer sales of tickets which would eventually affect the state revenues and government only face losses.