Lottery is one of the few consumer products that held steady or even increased its popularity during the Great Recession. Its enduring appeal is probably the result of a number of factors: it\u2019s relatively cheap and easy to play; people have long been attracted to the chance to win something big, even if they can\u2019t really afford to do so; and, because lottery prizes are allocated through a process that relies entirely on chance, the resulting spending is not considered \u201ctaxes\u201d by state legislatures and doesn\u2019t seem to affect the overall economy in the same way that other forms of gambling do.<\/p>\n
But the lottery has also drawn a lot of criticism, from allegations that it promotes compulsive gambling to its regressive impact on lower-income communities. And it\u2019s a complex business that generates both excitement and confusion.<\/p>\n
It starts with the odds, which range from low to vanishingly tiny. Then there\u2019s the cost of playing, which is typically a sizable chunk of a person\u2019s disposable income. And finally, there are the consequences of winning, which can be a life-changer\u2014or not.<\/p>\n
Brian Martucci is a senior writer and researcher at Money Crashers, where he investigates time- and money-saving strategies for readers. He covers credit cards, banking, insurance, travel and more. Follow him on Twitter @BrianMartucci.<\/p>\n
The percentage of the ticket price that goes to prize money varies by state, and most spend about 50%-60% on ticket sales. The rest goes to various administrative and vendor costs, as well as toward projects that each state designates.<\/p>\n","protected":false},"excerpt":{"rendered":"
Lottery is one of the few consumer products that held steady or even increased its popularity during the Great Recession. Its enduring appeal is probably the result of a number of factors: it\u2019s relatively cheap and easy to play; people have long been attracted to the chance to win something big, even if they can\u2019t […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1567","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n