LOUSY LOTTERIES

On 4/3/24, a drawing for a $1.09 billion Powerball jackpot will occur, the fifth largest. While the chances of winning are one in 292 million, Americans spent over $100 billion in 2022 buying lotto tickets and it’s mostly the poor. In the poorest 1% of zip codes, the average adult spends about $600/year or 5% of income, versus $150/year or 0.15% of income in the wealthiest 1%. Talk about regressive.