Saturday, February 18, 2006

Ruining high payout lotteries

A study in the late 80s or early 90s in Ontario said that large payout lotteries had a significant impact in concentrating wealth even further than misguided neo-liberal economic already have. And the Ontario Lotto 649 at that time even limited jackpots to 20 or 30 million. When people win a million dollars the money likely recirculates; when they win 100 million,if they heed professional advice will be setting up offshore accounts etc. so less recirculation. Maybe all the people who make bad investments and throw big parties are more beneficial than "responsible" lottery winners.

Maybe church groups and others opposed to the proliferation of gambling could ruin publicity surrounding high payout lotteries by encouraging large lottery pools which would buy and split lotteries limiting payouts to a million or 100 thousand, donate half the winnings to anti-gambling lobbying, and appoint a spokesperson to speak at the acceptance of the cheques who would point out the problems with gambling.

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