Comments on: Does anyone know how much the profits are in the Mega Millions and Powerball lotteries?

By: Worker Bee

Worker Bee — Sun, 14 Dec 2008 09:51:53 +0000

Theoretically it should be like your post about cigarette taxes. Its supposed to go to education. But once a human being takes statistics and actually learns something in the class then they lose a customer. So it should disappear. But in the USA it likely goes to art classes and the psuedosciences so Lottery will be here forever.

By: FBH

FBH — Thu, 11 Dec 2008 13:06:05 +0000

In Michigan, it was posta help the schools (when it started)…

But the money seems to go nowhere.

Good question…

By: honestamerican

honestamerican — Tue, 09 Dec 2008 12:50:25 +0000

No idea….
Here in Michigan all profits from the lottery go into the general fund.Originally the lottery was set up the schools.A republican governor decided the schools were to well funded so he got it redirected into the general fund…..so he could give his rich friends bigger tax cuts!
Needless to say he left state for Texas as soon as he left the governorship!

By: libsticker

libsticker — Mon, 08 Dec 2008 04:07:49 +0000

Half the money is given as winnings and half goes into the States general fund to be used for education only, this is by law. The problem is, that the states then use the money levied on property tax for other purposes so that only the lottery funds the school systems and the property tax is used for pork barrel politics.

By: geegee

geegee — Sat, 06 Dec 2008 18:46:54 +0000

The profits must be huge or we wouldn’t be having these forms of legal gambling! The states hire out the printing of the tickets that are sold, they have to have a staff of computer operators to know if there is a winner etc, there is profit for everyone but the winner! Yes, of course, the winner get the money & usually lots of it but, no where near the amount of the jackpot!

By: WCSteel

WCSteel — Fri, 05 Dec 2008 03:27:34 +0000

In Tenn, As in most states, The profits go to college grants.

Unfortunatly the rules of the scholarships usually are taken away due to the stringent rules of the scholarships.

This is part of the reason why most states are so far in the black. The only problems is they can only use that money for the scholarships. So the money just sits there until someone goes to college to use it, but if you drop below a 3.0 grade point avg you lose it and it sits.

By: Jim H

Jim H — Thu, 04 Dec 2008 07:15:58 +0000

Is this type of question what you have to ask to be a top contributor? You don’t really know? What a shame.