Whether you play the lottery or not, you’ve probably seen a few big winners in recent years. The largest jackpot in recent years has jumped to over $1.6 billion, and there are a few lucky winners who have landed millions more.
First recorded signs of a lottery are keno slips from the Chinese Han Dynasty
Known as baige piao, the first lottery games were said to have originated from the Chinese Han Dynasty. The lottery slips were believed to have been used to fund major government projects such as the construction of the Great Wall of China.
Throughout the years, lottery games have evolved. Today, modern lottery games are typically conducted with random number generators. In addition, there are many modern lottery games that allow the purchaser to choose the numbers.
U.S. lotteries totaled over $91 billion
During fiscal year 2019, the United States’ lottery sales totaled over $91 billion. In addition to traditional lottery sales, the lottery industry generated consolidated revenues of $87.3 billion, which include non-traditional net revenues.
Consolidated revenues include traditional lottery sales, VLT revenues, and instant ticket sales. Combined VLT revenues increased 3% from the previous year, but decreased in Rhode Island. Combined traditional lottery sales increased 17%.
Oregon Lottery operates at less than 4%
Whether you’re a resident or tourist, Oregon Lottery tickets can be purchased from retailers in Oregon. You’ll need to provide proof of your physical location in the state before purchasing.
Oregon Lottery offers a wide range of lottery games, including Daily 4, Keno, Powerball, and Breakopens. The state also operates a Scoreboard feature, which allows bettors to wager on popular US and international leagues.
Powerball jackpot surges to $1.6 billion
Despite the fact that the Powerball jackpot hasn’t been won in over three months, many lottery players are staking their bets on the big prize. The jackpot has soared to $1.6 billion and has reached a new lottery prize record.
The Powerball is played in 45 states, the District of Columbia, Puerto Rico, and the United States Virgin Islands. It costs $2 per play. The odds of winning the jackpot are one in 292.2 million.
People with low incomes don’t play the lottery
Using data from 45 states, the Howard Center for Investigative Journalism found that most lottery retailers are located in lower income communities. The average frequent player reported spending around $200 a week on lottery tickets.
The biggest drawback of the lottery is that it is largely regressive. In ten states, lottery revenues exceed corporate income taxes. This makes passing tax increases more difficult. Moreover, the revenue makes up only one percent of state revenue. This is a small sum, but it is nonetheless important.
Recent big winners of the lottery
Those who have won large jackpots in the lottery have done a wide variety of things with their winnings. Some have taken the money and invested it, while others have used the money to buy homes for themselves or their loved ones. Some have also made bad decisions with their money.
Evelyn Adams, a lottery winner from New Jersey, spent much of her money on gambling and risky investments. She also spent some of her winnings on gifts for family members.