Illinois Gov. wants to privatize state lottery

Comment #27

darimgdave37 — Wed, 31 May 2006 04:43:55 GMT

The way things are going here, if I found the shoebox, Gov. Rod would tax the livin' day;ights outta me Anyhow, I'll just have to wait and win to have that party...and then I'll let you know where the party is.

Comment #26

psykomo — Tue, 30 May 2006 19:15:26 GMT

qutgnt::::::::::::::You gottaaaaa.......bright idea$$$$$$$$$$$$

RUNNING ..........it like a private company would be a better...............

SOLUTION ........ otherwise,........we will have many states doing

It ...................... and then some holding company to buy'um-out >>>>

and BANG>>>>>>BANG!!!!!!!!!!!!! one big lottery company, controled by

a very few who will answer to.......NO ONE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

So let's keep it in the individual state... [ More ]

Comment #25

CASH Only — Fri, 26 May 2006 13:41:25 GMT

Look at the Connecticut Lottery. No one (not even me, although they have a Lose for Life scratch with no cash option) complains about it.

Comment #24

Rick G — Fri, 26 May 2006 13:11:20 GMT

Coin Toss,

They would be suspect even if they KEPT the auditing firm. I like PayMeNow's post above.....we should shudder at the thought for obvious reasons.

Comment #23

paymenow — Fri, 26 May 2006 06:34:32 GMT

One should shudder just even at the thought of state lottery games changing hands over to the private sector.

Why should one trust a private group more than they would a government entity? Where does the depth of greed lie before the temptation of corruption takes place as it is morally, ethically, socially, and more, blinded by its desire to forever enhance its bottom line?

Whenever great financial gains are the underlying and primary motivating factors in any such agreement, there w... [ More ]

Comment #22

psykomo — Fri, 26 May 2006 06:27:30 GMT

Thank.............you ..........thank >>>>>>>>>>>>you <<<<<<<very....MUCCHHHHH!

Onley Jimmy Carter,,,,,, ,,,,,,Richard Nixon!!!!!!!

gave us the most perfect...................................................TIMES........praise........allow!!!!!!!!!!!!

LOL$$$$$$$$$$$$$......... ........monetttttttttttttttyyyyyyy

IFFFFFFFFFFF................... YOU NEED___________TOO!!!!!!!!!!!!!!!!!ittttt$$$

praise...........JIMMY............. .............pooorrrrrrrrrrrr RICHARD ..... [ More ]

Comment #21

johnph77 — Fri, 26 May 2006 05:35:28 GMT

Hmmmmm. So, in 2025 Illinois is left with:

A bankrupt education fund.

No lottery funds with which to further education financing.

If the State decides to start a competing lottery to further funding no one is likely to play it, because, not having to worry about funding education, the private concern will offer a much higher payout percentage than any state could hope to do.

A classic case of a politician wanting to kill the goose that lays golden eggs. Screw the future, grab what you ca... [ More ]

Comment #20

psykomo — Fri, 26 May 2006 02:16:33 GMT

Thank$$$$$$$$.................Rick G!!!!!!!!!!!!!

LOL>>>>>>>>>>>>>>>>>>

>>>2006>>>$$$

LOL

PSYKOMO

Comment #19

psykomo — Fri, 26 May 2006 00:39:57 GMT

DEAR MEMBERS:

It L@@KS like toooooooooooomeeeeeeeeeeeeeeeeit boils down to (2-THING$$$$)

Who do youuuuuuu.PPPPPPPPPeeee PPPPPPTRUST(Trust???)

Jimmy Carter <<OR........ Richard Nixon <<

>>>>>>>>>>>>OR>>>>>>>>>>>>>>>>

LOTTERY POST>>>over >>!!!!!!

40,000...............Member$$$

LOL

PSYKOMO............... $$$$$$$$$$$>>>>>>>you too member$$$$$$$$$.... [ More ]

Comment #18

CASH Only — Thu, 25 May 2006 23:33:20 GMT

It would seem that way. But Illinois should go ahead with it.

Comment #17

Coin Toss — Wed, 24 May 2006 22:31:49 GMT

RickG

Wouldn't taking over a lottery and elimnating any independent auditing firm make them highly suspect

Comment #16

Rick G — Wed, 24 May 2006 21:48:57 GMT

Coin Toss...thanks for that breakdown.

The 33% now going to the school fund will then go to the "renter". They can lower operating costs by going to computer draws and not televising them. Perhaps they could even eliminate the independent auditing firm who currently oversees the integrity of the drawings. They could cut the prize pool and the vendors' cut by just a small percentage and they would be making a profit of 40 cents or more on the dollar. If they're crooked they could rig the... [ More ]

Comment #15

LOTTOMIKE — Wed, 24 May 2006 21:16:06 GMT

isn't this what indiana did????

disaster.

Comment #14

Coin Toss — Wed, 24 May 2006 20:56:01 GMT

The Chicago Tribune today had an article that said 3 cents of every dollar went towards admin. costs and 57 cents went to the prize pool. If that's accurate does Blogo (Governor Blagojevich) think a private firm can cut the admin costs to under 3 cents on a dollar?

Here's the breakdown:

Where each lottery dollar goes, fiscal year 2004:

57 cents - prizes awarded to winners

33 cents - common school fund

7 cents - to vendors and retailers

3 cents- operating expenses

have... [ More ]

Comment #13

Drivedabizness — Wed, 24 May 2006 15:58:05 GMT

I'm not at all clear on the specific merits of the Governor's proposal...I have many of the same concerns expressed here on the proposed financial structure of the deal.

Clearly, if a firm puts up $10 billion they will look to make a minimum return on that upfront cost.

That said, some of the arguments against privatization in general are simply unsupported by facts or history. CT can hardly be said to be privatized - they are not a state agency but if you think they operate free of the st... [ More ]

Comment #12

CASH Only — Wed, 24 May 2006 14:54:08 GMT

Maybe if NY privatized its lottery (which Connecticut has done to at least some extent), its Rotto would have an acceptable payout return.

Comment #11

qutgnt — Wed, 24 May 2006 14:34:13 GMT

How about doing what a private company would do? Get rid of the red tape admin costs, jack up the payout percentages, people will play more, and you will make more. This is why politicians are really useless. Companies should be lining up to buy this.

Comment #10

Rick G — Wed, 24 May 2006 12:31:17 GMT

Darimgdave,

If you want to find the shoebox it's usually in the Secretary of State's closet.

Let's get that party started

Comment #9

dvdiva — Wed, 24 May 2006 05:04:33 GMT

Maybe they could just cut the Dept of Education, give parents vouchers and privatize the schools while they are at it. The problem is that businesses have to make money otherwise they don't exist. Many private schools are ran as non-profits at least around here. The biggest problem is the levy system and very poor executive level management in schools. If they spent half the time they spend on percieved racism/sexism on financial planning it wouldn't be a problem.

Comment #8

darimgdave37 — Wed, 24 May 2006 04:03:21 GMT

I'd like to find that shoebox myself.

the party would be awesome

Comment #7

darimgdave37 — Wed, 24 May 2006 04:00:56 GMT

Last time I checked, private business was in it for itself, NOT for the school system or anyone else. Somebody should talk to Govenor Rod about his thought processes.

Comment #6

Coin Toss — Wed, 24 May 2006 00:10:27 GMT

I agree with every post following the OP. This is one lame idea.

When you can't really on the state itself to really put the funds from lotto into education there's no way a private firm would do it.

Comment #5

Saleo Paleo — Tue, 23 May 2006 22:53:03 GMT

If you think the lottery is sometimes (Sorta Crooked) You haven't seen nothing until it's privitized.

Comment #4

starchild_45 — Tue, 23 May 2006 22:14:50 GMT

one word for this. stupid

Comment #3

Rick G — Tue, 23 May 2006 20:33:07 GMT

Believe me, this state will blow it or steal it. When the lottery first started here the lottery proceeds were supposed to be in addition to the current education budget. But it quickly changed to the lottery being the ONLY source of education funds. Where did that original budgeted money go to? A shoebox in someone's closet

Comment #2

savagegoose — Tue, 23 May 2006 20:22:56 GMT

also its giving away a pretty guranteed $650 mill a year, for ever for schools, for $4 bill in next 4 years, then interest on $6 bill.

whats 5% of 6 bill? $300 mill thats assuming the trust can get %5 and not just blow it.

so 1 bil a year then $300 mill after 4 years. guess that guy wil be out of office , and new guys can try n fix up school finance.

Comment #1

Rick G — Tue, 23 May 2006 20:08:24 GMT

This looks like a major disaster waiting to happen. What a stupid solution.

The irony is that he's gambling with gambling. Kind of like having a full house poker hand and throwing your pair away hoping for the four of a kind.

Illinois Gov. wants to privatize state lottery

Lottery Post — Tue, 23 May 2006 18:38:25 GMT

Controversial plan is designed to capture funds for education up-front, but is it worth the gamble?

Democratic Illinois Governor Rod Blagojevich today will unveil an election-year school funding plan that calls for leasing the state lottery for the next decade to a private firm in return for $10 billion in upfront cash.

Schools would get at least $1 billion a year for the next four years from such a deal, with the remaining $6 billion going into an education trust fund governed by a board... [ More ]