The Problem With Lotteries

Like most Americans, I never gave much thought to lotteries. They were just an amusing, unlikely way to get rich at the cost of a only few bucks and some minutes filling out tickets.

But as The Atlantic’s Derek Thompson points out, lotteries are big business in the U.S., and can very well be considered an industry in their own right. Consider the following chart based on data from the North American Association of State and Provincial Lotteries (they’ve got an organization for everything these days). As of 2014, Americans nationwide spent more on lotteries than on all other forms of entertainment combined. Continue reading

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