Lottery sales rise amid recession
NASHVILLE, Tenn. (AP) – In these tough times, many people appear willing to gamble a few precious dollars in the hope of winning instant deliverance from their economic woes.
More than half of all states with lotteries have reported rising sales over the past six months, and some researchers say financial insecurity might be driving people to risk more of their money than usual on $1 and $5 instant scratch-offs and other daily games in hopes of a big payoff.
Nationwide, instant and daily lottery revenues have been on the rise since 2004, according to U.S. Census Bureau data.
States’ revenues from multistate lotteries, such as MegaMillions and Powerball, have dropped. But industry officials say sales of those tickets tend to fluctuate as the value of their jackpots rise and fall. If there is no winner one week, the size of these jackpots increases the following week.