EDITORIAL GET RICH QUICK? MEGA MILLIONS A LOSING TICKET.
IT turns out that get-rich-quick schemes do about as much good for
governments as they do for individuals, which is to say, not much.
So when state officials thought that joining the multistate Mega
Millions lottery would be California's quick road to riches, they
were wrong. Kind of like the ordinary lottery player, who also hopes in
vain to strike it rich.
State lottery officials had anticipated that Mega Millions, along
with the existing Super Lotto game, would bring in $1.4 billion in its
first year. But the result was a more modest $1.2 billion, with the new
game cannibalizing revenues from the old one.
Still, overall sales inched up slightly, from $1.1 billion the year
before, so at least the move wasn't a loser. But Mega Millions
certainly didn't live up to the hype or the expectations. As any
regular lottery play can tell you, the games rarely do.
COPYRIGHT 2006 Daily News
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2006, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
|
Reader Opinion