The Secrets Lottery Officials Hide From the Public

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Description: What are the secrets lottery officials don’t want you to know? Find out in this video! Duke University Citation: http://stoppredatorygambling.org/wp-content/uploads/2012/12/The-State-Sponsored-Lottery1.pdf National Endowment for Financial Education: https://www.nefe.org/news/2018/01/research-statistic-on-financial-windfalls-and-bankruptcy.aspx Subscribe to Pablito's Way below: http://www.youtube.com/channel/UCk2zuJeRutyMZSdoh0sltLA?sub_confirmation=1 New to Pablito's Way? Start here!???? https://www.youtube.com/playlist?list=PLC9umoxByMRJQoW_PzGK-n84iLQgbQyN2 Check out some more of our favorite videos below: Animals Who Are Evil GENIUSES!???? https://youtu.be/4YaXltTVx7g The Untold Truth About the Escape From Alcatraz⛏️ https://youtu.be/dHMFEj3Lvyc Rappers Who Went Broke with Dumb Decisions???? https://youtu.be/mQ0qYI-xbKg Follow me on Instagram! https://www.instagram.com/_pablitos_way/ Lottery Basics Many of us have probably heard the phrase that you’re more likely to get struck by lightning than you are to win the lottery in your lifetime. And it’s completely true. The odds of getting hit by lightning in our lifetimes are roughly 1 in 15,300. Earliest Lotteries Lotteries are something that’s deeply ingrained in many cultures. The first recorded lotteries date back to the Chinese Han Dynasty between 205 and 187 BC. The proceeds were believed to have helped finance major government projects, such as the Great Wall of China. Target Class Anyone that needs money dreams of becoming rich. And the government isn't exactly innocent in feeding people this type of dream. In fact, one past study done by Duke University showed that ads for lotteries were more actively advertised in poor communities. The Lottery Tax Needless to say, lotteries are a great way for the government to bring in revenue. In 2009, 11 states made more money from their state lotteries than what their corporate income taxes brought in! For example, the lottery made more than twice as much as corporate taxes in Rhode Island that year. Education The lottery has been played up to be a great way to fund a state through a game. The money spent is supposed to go to public services to benefit citizens, such as in education. It’s said that most lottery money goes to education. But does it really? Scratch Offs Let’s go ahead and talk about scratch-off tickets. Did you know that the most popular scratch offs actually have the worst return? Scratch offs are a HUGE business. Many people assume that since payouts on scratch off tickets are much smaller, the chances of winning are better. Retail Incentives We know that a lot of money is made from various lotteries around the country. But how do retailers benefit as ticket sellers? Well, lottery sales make up roughly 30 to 40 percent of the revenue for convenience stores! Financial Troubles In a 2006 survey by the Consumer Federation of America, they found that a fifth of Americans believe that winning the lottery is the best way for them to accumulate large savings. Lottery Happiness Let’s finally talk about happiness. Does winning the lottery actually make people happier in the long run? Does it really change lives for the better? Well, let’s face it. Winning the lottery can definitely solve most of our financial problems and therefore, make us happier, right?