“A Wells Fargo report on lottery revenue, obtained by Education Week, states that currently an estimated 8 percent of school funding nationally comes from the $18 billion generated annually in lottery and gaming sales.”
The article is more about Washington State securing bonds (loans) based on projected revenues from gambling. Sort of a “bet-on-a-bet.”
Gambling brings in some money. Pot sales in Washington State may as well (although I think those taxes are going to medical things).
I’m waiting for when prostitution will be pushed to be the next thing to raise revenue.
“Prostitutes for Preschoolers”
“Hookers for High School”
Timber sales used to amount for most of the education funding in the state of Washington.
I am all in favor of lotteries because they are a tax on poor people. It is even funnier when a poor person wins a lottery, and is poor again in 2 to 5 years. The only thing that sucks is probably at least half of the money spent on lottery tickets by poor people is taxpayer money.
$18 billion in lottery and gaming sales
How much of that is paid out as winnings? How much is the overhead costs? How much do the private contractors that actually run the lottery get paid?
How much of that lottery revenue would have been spent on food, cars, gas or housing otherwise?