Lotteries were begun to meet the funding needs of state governments, mainly in the area of education. That narrow focus, meeting state funding needs, continues to be the objective.
It is past time to broaden the focus to one that includes improving the financial wherewithal of as many people as possible, thus providing a greater boost to the economy. As it stands now, one person wins a jackpot, which depending on the lottery can run from several million to the recent Mega jackpot of $1.5 billion.
First, that is more money than a reasonable person/family needs, even over time. We have seen over and over again over the years how people’s lives have been ruined by the sudden flood of money. People don’t know how to handle it. And vultures defend to take advantage of the situation.
Second, the concentration of all that money in one person does nothing to help the economy. It would be far more beneficial if many people received, say, $300,000. Spreading the money out would provide a greater boost to the economy.
Third, spreading out the wealth would make a beneficial difference in more people’s lives. And since the amount would be manageable it would be beneficial.
The argument will probably be made that the current system draws the most money for the state because people salivate at the possibility of winning these huge sums. But if the game was changed, allowing more people to win and thus increasing the chances of winning, even thought the prize would be more modest that would be a huge draw I believe. But even if the amount received by the state were somewhat reduced, injecting some social purpose into the lottery would be worth it.
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