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Feel the Powerball

The Texas House has approved a bill that would allow Texas to join with other states in the Powerball lottery, a move that supporters say could bring in another $100 million per year. I guess that means the answer to my question is “this year if all goes as planned”.

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5 Comments

  1. Morat says:

    I donate a dollar, twice a week, to the education fund and the Gods of Chance. Why? Because, frankly, I tend to have a dollar sitting around twice a week.

    Yet I’d happily support a lottery repeal.

  2. Charles M says:

    And this is going to generate addtional revenue how?

  3. And this is going to generate addtional revenue how?

    The theory is that it’s bigger jackpots that draw players to the game, and that’s Powerball. The rejigged Texas Lotto was the first step. I’m not convinced, but that’s the theory.

  4. William Hughes says:

    Since New York has Powerball, and is dealing with an $10 billion deficit this year alone, I can assure you that the lottery is not the answer. What it has done is take money away from the New York Lotto since Powerball does not attract new customers. Considering that the odds of hitting the jackpot in Powerball is 120,526,770 to 1 (odds are posted on http://www.musl.com, which is based on selecting 5 numbers from a set of 53, plus one from a set of 42), this shows that New Yorkers are not all fools.

  5. Like I said, it’s the theory. The Texas Lotto was already rejigged to have worse odds but higher payouts on that theory.

    To their credit, they’re not claiming that this will balance the budget, just that it will bring in more cash. Which it well may, at least in the beginning. It’s still a drop in the bucket and the wrong approach on many levels.