by Tim Gray

Created on: October 25, 2008   Last Updated: November 03, 2008

Over the past few decades of our nation, in a never ending search to find more and more ways to generate revenue and fatten coffers, many states have instituted government sanctioned lotteries. Indeed, many lottery friendly states have chosen to even work collaboratively, in an effort to entice citizens into believing they can be power jackpot winners of unfathomable sums. These sums, at times, total in the hundreds of millions of dollars. Although, there are other wagering choices states could choose from, in an effort to generate gambling greenbacks, lotteries are far and away the most popular choice. Why have lotteries grown so popular among lawmakers? Moreover, are they good investments?

One needn't be a genius in probability to conclude why lotteries are so greatly coveted by state governments. Lotteries give states, pardon the pun, the biggest bang for your buck. The odds of winning a huge lottery jackpot are infinitesimally minute. One's chances of being struck by lightning are substantially greater than his or her likelihood of hitting a nine figure Powerball jackpot. And when was the last time you, or someone you know was struck by lightening?

Any well schooled gambler knows that lotteries are the worst legal wagering ventures available in our society.

The marketing of lotteries is very misleading and, it can be argued, are morally inappropriate as well. We are bombarded with ad after ad displaying only the glamour and good fortune of winning a lottery. We are never exposed to the darker, more damaging side of lottery addiction. Our friends and co-workers often jokingly talk of all they will harvest and enjoy once they, "hit the lottery." A more legitimate reference is if they will recover, or how long that recovery will take if smitten by a lightening bolt.

Our nation's lottery commissions are not being honest, nor forthcoming with the American public. It is well documented that a disproportionate percentage of lottery revenue is generated from those least in a position to make the investment. Far too many of the marginal and very poor are much too ill advised to know their chances of winning a mega-jackpot are virtually non-existent. What clue do they have with regard to lottery participation and financial responsibly? While they are consenting adults, in reality, their best interests would be to avoid lotteries entirely. Instead, they remain foolhardy participants being led to the lottery slaughterhouse like lambs. It's sad to view our state governments in this context. How much more desperate can these governments appear? Why don't they just choose to be more fiscally responsible? Wouldn't this be of greater advantage and benefit to their constituents?

In summation, lottery tickets are horrible investments, because there is only the tiniest likelihood of any reasonable return. Governments know this and that is why they endorse and administer these tickets of little chance. Only those with money to throw away should buy them. Lotteries and everything they represent are undoubtedly, when all is said and done, "the emperor in his new clothes."

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