Idaho Lottery announces record sales for fiscal year
BOISE, IDAHO – Idaho set a record for lottery sales during the 2010 budget year, with $147.2 million spent on lottery tickets. That’s up from $130.5 million spent on the lottery in 2007, according to The Idaho Press-Tribune.
The state wasn’t alone in seeing increases — financial records show that of state lotteries that end their budget years in June, 28 of 41 had higher sales than the year before, the Chicago Sun-Times reported. Seventeen states set all-time sales records.
David Chaplin, an associate professor of economics at Northwest Nazarene University, said “desperation is what’s driving the increase.”
He described it as “that notion that ‘what do I have to lose in this kind of environment?'”
It’s an example of counter-cyclical sales, he said, or sales that increase when most others go down.
“It defies logic,” Chaplin said. “But of course, gambling is not defined by logic. It’s driven by hope.”
But Idaho Lottery spokesman David Workman was skeptical of any connection between lottery sales and the economy. “I don’t know that we’ve seen anything that would really suggest that,” Workman said.
“Large Powerball jackpots seen in recent years have increased sales”, Workman added.
source: Idaho Press
Published: September 21, 2011