How do you do it?
Tom Scovill breaks it down as so…
State lottery – does anyone know what the state could expect for a sales to profit ratio?
This article on Masslive.com suggests it would be about 0.2, or 20 percent.
If that is about right, guv would have to sell about $1,126 million (about 0.6 percent of personal income in Alabama, or about $300 per adult in Alabama) of lotto tickets to bring in the $225 million of revenue he claims the state will get.
In Massachusetts, about 72 percent of sales was paid out in prizes and about 5.7 percent of sales went to the retailers selling the tickets. It seems about 2 percent, or $100 million went elsewhere, maybe state government expenses.
Will you spend $300 a year on the lottery?
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