bigfan wrote:
had a finance professor who on the final day of class gave his socioeconomic speech. It was quite a change and to date was one of the most memorable days of my lifelong education.
He ran down every class/religion group of people and talked about the lottery and African Americans. Said statiscally for the vast number of inner city AA's that play the lottery it is a negative return of huge proportions.
He understands the desire and the low cost of entrance for the chance to win millions.
He suggested something like the do in Spain called EL GORDO. It is either X mas or NY Eve, $100 tickets and something like 300 or more people are awarded $1 million each
I work in an area that is rather economically questionable with a large African American population. From what I can see, the most money spent on lottery is not the lotto or big money games, but the daily game. There is a convenience store I visit that is a lottery mill--there are always about 10 to 15 people in line to play. They go with "box the wheel," "wheel the box," "center the block," etc. Everyone seems to spend $20 or more and when you see them checking their tickets, you can get twenty winners and get back a dollar.
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