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Alabama governor reestablishes study group for lotteryNews Story
Alabama Gov. Kay Ivey reopened the Governor's Study Group on Gambling Policy by signing Executive Order 719. I am committed to, once and for all, getting the facts so that the people of Alabama can make an informed decision on what has been a hotly debated topic for many years, Ivey said in a press release. Without a doubt, there will be ramifications if we eventually expand gaming options in our state just as there are costs associated with doing nothing. The purpose of the study group i
Mar 5, 2020, 12:13 pm - Lottery News

It turns out money can kind of buy happiness after allNews Story
Does winning the lottery even make you happier? For a long time, researchers said no. Research hadn't found any conclusive evidence that people who won large sums of money were happier afterward. There was even some evidence they were worse off. This fact became widely known, partially because it's so appealing to many people. It's nice to think that life satisfaction isn't just about how much money you have, that other things matter more, that we can't solve all our problems with a sudden in
Sep 30, 2019, 8:12 am - Lottery News

Massachusetts legislators looking into fairness of lottery fund distributionNews Story
Massachusetts residents have been playing the lottery for nearly 50 years, enjoying both the risk and the benefits their towns and cities see. But some legislators are worried certain communities are getting more out of the game than others. Every year, about 20% of the revenue the state lottery rakes in is distributed to the 351 towns and cities, according to the Massachusetts State Lottery's website. In 2018, the lottery returned $997 million to the state, which was the second-highest total
May 29, 2019, 8:00 am - Lottery News

Identical winning numbers crop up in hundreds of U.S. lotteries. Are the drawings really random?News Story
By Jason Clayworth America's popular and lucrative lottery drawings, in which computers randomly select numbers that turn a lucky few into instant millionaires, may not be as random as they seem. In dozens of the games across the United States, identical winning numbers have been generated within weeks or months of each other sometimes in consecutive drawings, a Des Moines Register investigation shows. Lottery officials, even some who have previously acknowledged concern with the nation
Jan 31, 2019, 11:49 am - Lottery News

Everything you know about the fate of lottery winners is probably wrong, according to scienceNews Story
Friday's Mega Millions jackpot has gone up to a record-breaking $970 million. On Saturday, Powerball will have a drawing for a $430 million jackpot. A winning ticket for either lottery will be life-changing, but some of the popular theories about the fate of lottery winners aren't necessarily accurate, according to a study published in May. The study, published by the National Bureau of Economic Research, examined 3,362 Swedish lottery winners who scored at least $100,000, and surveyed them a
Oct 19, 2018, 9:46 am - Lottery News

Money really does lead to a more satisfying lifeNews Story
New research suggests that more money really does lead to a more satisfying life. Surveys of thousands of Swedish lottery winners have provided persuasive evidence of this truth. Lottery winners said they were substantially more satisfied with their lives than lottery losers. And those who won prizes worth hundreds of thousands of dollars reported being more satisfied than winners of mere tens of thousands. These effects are remarkably durable. They were still evident up to two decades aft
Aug 25, 2018, 8:25 am - Lottery News

Better Business Bureau releases study on sweepstakes, lottery and prize scamsNews Story
A new report by the Better Business Bureau says sweepstakes, lottery and prize scams are using ever-changing methods to hurt victims financially and emotionally. The frauds concentrate on seniors, targeting them by direct mail, cold calling, social media, text messages and smartphone pop-ups. BBB warns consumers to be on guard against the serious frauds and their perpetrators. The report Sweepstakes, Lottery and Prize Scams: A Better Business Bureau Study of How 'Winners' Lose Millions
Jun 18, 2018, 8:02 am - Lottery News

Sweepstakes, lottery scams cost Americans more than $111 million in 2017News Story
A new study reveals sweepstakes, lottery and prize-related scams cost Americans millions of dollars each year. The Better Business Bureau calls these schemes some of the most serious and pervasive frauds operating today. In the past three years, the group says more than 460,000 Americans have reported losing a total of over $330 million to such scams. The Better Business Bureau says these crooks are professionals. They might take advantage of someone in your family, and they can be very c
Jun 5, 2018, 3:45 pm - Lottery News

Study: Neighbors of lottery winners are more likely to go bankruptNews Story
As if you needed proof that trying to keep up with the Joneses isn't a good idea, here it is: Close neighbors of lottery winners in Canada tended to spend more on conspicuous goods, put more money into speculative investments such as stocks, borrow more money and eventually declare bankruptcy. The larger the dollar magnitude of a lottery prize of one individual in a very small neighborhood, the more subsequent bankruptcies there will be from other individuals in that neighborhood, says the l
May 29, 2018, 7:47 am - Lottery News

Survey: Many investors would make questionable decisions after winning the lotteryNews Story
The odds of winning the Powerball jackpot are a slim 1 in 292,201,338; the Mega Millions is 1 in 302,575,350. But that doesn't stop people from dreaming about how they'd handle a big-ticket lottery win. Asked to allocate a multimillion-dollar lottery win, consumers said they would put roughly two-thirds into savings saving an average 52 percent of the prize for themselves and 16 percent for others, according to a new survey from TD Ameritrade provided exclusively to CNBC.com. Of the remaining
Dec 19, 2017, 9:18 am - Lottery News