It is truly incredible that the Powerball Lottery tomorrow evening will likely approach $1.5 billion, which testifies to the long odds of winning the prize. The exceptional prize level also testifies to how much money is taken in by states that have lottery games. Early on, most states that enacted lotteries earmarked the revenue for a very good cause: education. But big jackpots raises the question of whether the dollars are really going to our schools.

I checked around and found that yes, many states do allocate the “net” proceeds to education. But not surprisingly, just as many have veered away from the intended cause and either spread the revenue around for not such good causes, otherwise known as pork, or just dumped it into the general revenue bin for state bureaucrats to spend to their hearts content.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.