October 21st, 2010 |
Lottery is one of the most popular forms of legal gambling. The only legal form of lottery is those run by state governments, private lotteries are illegal. This is to reduce fraud and raise money for a valuable cause. Some states place lottery shares into a general fund while others use it for special improvement projects such as beautification or upgrade the infrastructure.
In Iowa, lottery proceeds are used to fund a gamblers aid for those addicted to gambling. The University of Illinois Athletic Association receives all proceeds from the state lottery to improve facilities and equipment. However, this is not the norm with most states.
Maximization of Profits
In general, state statues usually require the lottery commission to maximize profits resulting in lotteries being run like a business. Although managed by the government, lotteries are run like a private business. For instance, the state of Missouri outlawed all advertising that may entice an individual to participating in the lottery. This has since been overturned due to low participation.
Therefore, one of the major methods of stimulating lottery demand is advertising. One of the most well-known lottery advertising campaigns is run by the New York State lotto. Through this advertising, millions of New York State citizens become aware of the total amount that could be won with only $1.
Other Stimulating Methods
Although advertising is effective for all states, different states have different methods of stimulating lottery demand. New Hampshire began the modern lottery system by only having a few drawings per year which proved to be unsuccessful. As more states developed a lottery system, new games arose making the lottery more appealing.
One successful method was increasing the size of the prize and the frequency of drawings. Instant drawing tickets or “scratchers” were another intriguing idea to the general public. Lotteries then began daily drawings which proved to be popular. One of the most effective methods was the introduction of lotto. This is a game that matches the numbers draw with numbers on a ticket. If there is no winner, the prize continues to grow.
This is tremendously critical to modern lottery as it creates a huge jackpot. This in turn creates a large stimulus for the state. As state lotteries continue to grow, they need to constantly find ways to keep the public interested. This includes creating interesting scratch-off tickets with themes and different ways to win.
October 18th, 2010 |
Lotteries are available in many states within the United States. They help raise money for special state projects and infrastructure improvements that regular taxes do not cover. At the same time, many ethical questions are raised as it is a form of gambling. Both sides of the fence make valid points for and against the implementation of a state lottery. The reasons citizens play the lottery are numerous but the ultimate goal is to hit it big.
There are many reasons people play the lottery including:
- Lack of required skill
- Little fear of corruption
- Small wagering requirements
- Lotteries give the illusion of control
- Non-monetary aspects of the game
Lotteries are readily available in more states than not. Therefore, if not in your home state, chances are there is a surrounding state that can accommodate your lottery needs. Also, unlike other forms of gambling, playing the lottery requires no skill whatsoever. The whole system is based on the “luck of the draw.” People like easy ways to potentially make money.
Another reasons citizen’s play the lottery is there is little fear of corruption. Since this is a government-run entity, there is little corruption within the lottery system. Additionally, the ability of playing the lottery is inexpensive. Therefore, they only need to play $1 to potentially win millions. Furthermore, lotteries give the illusion of control. You have the option to pick your own numbers which gives people that control feeling.
Finally, individuals enjoy the non-monetary aspects of the game as it forms a social bond with those that play. It gives you something to discuss, allows you to engage in a ritual purchasing pattern and creates dreams of hitting it big. This is the favorite activity among lottery players.
Ironically, the low odds of actually winning the lottery are overlooked by most players or they simply do not care. Research has proven that when humans are convinced a low probability event can occur they will overestimate the chances of winning despite the fact that the majority of players will never win.
Lotteries can raise money to do great things in different states. At the same time, it can spark addiction and obsessive patterns. Like anything else, there are good and bad aspects. Regardless of both aspects of the lottery, individuals are still willing to try their hand in the game for many different reasons.
October 9th, 2010 |
Lotteries are the most popular and broadly played form of gambling in the United States despite having the lowest payout. It is estimated that 50 to 60 percent of Americans play the lottery in states where it is legalized. Of that percentage, two-thirds play some form on a regular basis. This indicates that one-third of adults in the United States play a form of the lottery regularly with 10 percent being heavy players.
It is likely these numbers do not reflect the total number of all lottery players. It is suggested that the number is much higher due to the existence of illegal lotteries. Since the payout ratio is much higher than the government-run lottery, they continue to thrive. State lotteries are tremendously unattractive due to the poor return on investment.
Two of the initial 11 winners in the California lottery were illegal immigrants. The most common type of lottery participant falls into one of the following categories:
Although forbidden by the law, there is a great deal of evidence that proves those under the legal age play the lottery. Recent studies have revealed that high school youths play various forms of lottery games. This is the initial sign of pathological gamblers that could develop into a problem in the future.
Another interesting statistic shows that the average American spends $100 annually on lottery games. This exceeds money spent on reading materials and prescription drugs. There are a small number of poor families that spend a large portion of their income on the lottery and a larger proportion of higher income individuals that spend less than on the lottery. Those in the middle comprise the average.
Among many researchers, lotteries have become known as “implicit taxes” because, although not taxes, nobody has the obligation to pay them. However, they are similar in that they raise additional funds for public projects. The opposition feels lotteries are not voluntary due to the impulsive purchasing and attractive nature of the game through advertising. The counter-argument is that candy bars are also impulse items and lottery tickets are cheaper.
Regardless of the two arguments, there are plenty of Americans that enjoy playing the lottery and plenty of states that are putting the lottery money to good use. It is unlikely those states that oppose lotteries will change their stance in the near future, but Americans are going to continue to engage the game in some form.
May 11th, 2010 |
If you have ever been in a casino, chances are you have walked by the Keno booth. Keno is a game similar to the lottery. In Keno, you pick your lucky numbers from the Keno board. The Keno dealer then draws balls out of an automatic spinning machine. If the ball drawn has your number on it, you win. A lot of casino visitors walk by the Keno booth without every putting down a number, but maybe you should try your luck the next time you visit the casino.
Three Reasons Why You Should Play Keno
Keno is a Game of Luck, Not Skill
Keno is purely a form of entertainment. While there are a few moves you can employ to increase your chances, at its root form Keno is a game of luck. If you are new to the casino, or not really a strategist, then Keno may be your game. Almost everyone has a lucky number. All you have to do is pick it on the board and you are on your way to winning. Its simple, fast, and anyone can do it.
Keno is a Good Way to Pass the Time
At certain peak times, like weekends, holidays, during tournaments, or when there is a concert going on at the casino, the poker tables can become packed. Often, poker players will simply add their name to the waiting list and then hang around the casino, waiting to be called. This is a fine strategy, but it can be boring. Keno offers a way to pass the time while still giving you the chance of winning some money. Best of all, most casinos do not require you to be present at the Keno booth to win. This way, if your name is called for the poker table during a round of Keno, you do not have to worry about loosing your money.
You Can Win Money
The best reason to play Keno is you stand a chance to win some serious cash. As Keno is an easy and lighthearted game, people do not often see it as a casino money maker, but you can walk away from a Keno booth with cash. The odds are similar to slot machines, meaning they have a larger house advantage then the poker tables, but people have won big at Keno. It all depends on the luck of the draw.