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

Investigating The Drug Trade In 'Cartel Land'

A new documentary tells a riveting story of the way power and violence intersect along the Arizona border and in embattled Michoacan, Mexico.
NPR

Why The World Might Be Running Out Of Cocoa Farmers

West African cocoa farmers earn less than $1 a day. Those low wages could jeopardize the future of chocolate labor, as young farmers find better opportunities to earn a living, a new report warns.
NPR

Donald Trump Controversy Highlights Influence Of Hispanics In U.S.

NPR's Rachel Martin speaks with Felix Sanchez, chairman and co-founder of the National Hispanic Foundation for the Arts, about Republican presidential candidate Trump's remarks on Mexican immigrants.
NPR

Pilot In Solar-Powered Plane Sets Aviation Record

André Borschberg, flying Solar Impulse 2, set a new record of 120 hours in the cockpit on a journey from Japan to Hawaii.

Leave a Comment

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