Virginia Lottery Winning Big | WAMU 88.5 - American University Radio

WAMU 88.5 : News

Filed Under:

Virginia Lottery Winning Big

Play associated audio
This year, the Virginia Lottery has earned a $487 million profit.
http://www.flickr.com/photos/29233640@N07/4283923344/
This year, the Virginia Lottery has earned a $487 million profit.

The fiscal year that ended June 30 was the best on record for the Virginia Lottery, which launched in 1988. This year, the lottery earned a record $487 million profit. The previous record was $455 million, which was set in 2008.

Lottery players collected $962 million in prizes this year, an $81 million increase over the previous year. But George Mason economics professor Bryan Caplan says the lottery is a tax on the willing.

"The people who are most likely to buy lottery tickets are people with lower education and lower IQ because it's such a horrible deal."

Lottery officials say an unprecedented $656 million Mega Millions jackpot in March was a factor in the increase in revenue. Improved sales of instant scratch-off tickets and growth in the number of lottery retailers also contributed to the spike.

NPR

Wounded Bull-Runner: 'If You Run Long Enough, You Get Gored'

Bill Hillmann, a writer from Chicago, contributed to the book Fiesta: How to Survive the Bulls of Pamplona. He was gored at this year's running of the bulls in that city, but says he plans to return.
NPR

What If The World Cup Were Awarded For Saving Trees And Drinking Soda?

We thought you'd get a kick out of seeing how the four teams in the final World Cup matches stack up in global health and development.
NPR

Congress' Latest Death Match Involves A Bank You've Never Heard Of

The business lobby is pushing hard for the survival of the Export-Import Bank, which has supported U.S. exports for 80 years. Some House GOP leaders, though, think it's time to kill the bank.
NPR

Looking For Free Sperm, Women May Turn To Online Forums

Bypassing commercial sperm banks, thousands are logging on to websites where women can connect with men at no cost. Anecdotes abound, but the scope of the unregulated activity is unclear.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.