Pros and cons of having a lottery

They may also be flooded by solicitations from investment consultants, financial planners, even con artists. Lottery is not a good idea since it has a lot of negative factors that are included along with this idea.

If so, it would have added 0. Therefore, you end up being poor with wasting all the money you have got by playing. A Mississippi lottery means the State will be investing in and encouraging individuals who have limited incomes to make poor financial decisions," Webb, the state economist, said.

I am now solidly opposed to the introduction of a state lottery. Obviously, it can make life easier—allowing winners to take dream vacations, purchase a home, or send a child or grandchild to college.

People once they get very greedy, they try to attack and harm other innocent people and take the money away.

Thereafter, you have no further tax payments. Y ou still have a slight decrease in economic activity," Webb said. In calculating lottery revenue, states assign sales percentages to pay out revenue. The study group met all summer and will issue a report on its findings before the legislative session begins in January This is due to one tries to prioritize their bets over their family and their needs.

In other words it is just a game which has luck by chance. The cash certainly comes in handy if you have been struggling financially or trying to settle a debt. Income inequality is heightened in the presence of a lottery—particularly for the African American population, Bryan Farrell with the Stennis Institute wrote in a brief for lawmakers.

Many people suspect that lottery winners will blow it all and end up back where they started. Therefore, research says that people who really love to gamble, might as well have their money spent in the areas they live in to create benefits for their surroundings and themselves.

Lotteries are among the U. This article aims at highlighting some of the pros and cons of playing the lottery. The name addiction has a big role that plays in the idea of putting bets in lotteries or even playing a lottery.

A few lucky souls even get life-changingly rich! More like this story.

S and winners are promised a great payoff, with rewards amounting to thousands of dollars. Continuing to work, even after winning the lottery, may actually increase happiness for many winners. There should be a balance and the ability to know how to keep a balance.

Despite this fact, there is still a chance to use money in a wise way. However, research shows that playing the lottery has psychological benefits as it paves way for you to better your life. Lottery is a government monopoly in the U. Lottery winners are more likely to be male, older, and relatively well-off.

Benefits Of Lottery

They realize that the most important aspect of winning the lottery is the freedom from financial pressures and the opportunities provided from additional resources. Tax benefits Although unknown to many, taking your winning as cash means you are receiving the lottery prize as cash payments.

The Mississippi Gaming and Hospitality Association says its members are threatened by the potential for video lottery terminals, called VLTs, to be in convenience stores and truck stops across the state.Also pending in the Senate committee are lottery bills by Sen.

Paul Sanford, R-Huntsville and Rodger Smitherman, D-Birmingham. Sanford's bill is a proposed constitutional amendment that would allow the state to enter multi-state games, like Powerball, but not establish an Alabama lottery.

Commentary: Mississippi does not have a state lottery. Let’s keep it that way.

Nov 29,  · On a map of states that have no lottery, the hold-outs stand strong in pairs: Alaska and Hawaii, Nevada and Utah, and Mississippi and Pros and Cons of a State Lottery.

Since both options have their pros and cons, it is advisable to consult an expert to ensure you make sound decision. 2. Tax benefits Although unknown to many, taking your winning as cash means you are receiving the lottery prize as cash payments.

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I’m not sure if winning the lottery would have more pros or cons to it. I’ve heard a lot of lottery horror stories from people who were divorced, robbed, killed or just plain ended up miserable because of the money.

Let’s discuss the lottery pros and cons and you’ll decide. Words from the Haters. People who hate the lottery have a lot of arguments against it.

Here are some of their most common objections: The odds are too high. The odds of being struck by lightning are better than those of winning the lottery.

Pros and cons of having a lottery
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