It says that the state made money on this, too… though I don’t quite understand how.
There may be an issue of time-value of the money, if the state has the money from the tickets in a large pool that they can invest well or has a slightly higher interest rate than the rate for small accounts. In that case, this essentially functions like an investment. But this seems unlikely since the time between when tickets are bought and when payout occurs is short.
There may be an issue of time-value of the money, if the state has the money from the tickets in a large pool that they can invest well or has a slightly higher interest rate than the rate for small accounts. In that case, this essentially functions like an investment. But this seems unlikely since the time between when tickets are bought and when payout occurs is short.