Dependable Erection

Thursday, March 29, 2007

Didn't see that coming

From the Charlotte Observer:

Despite sagging lottery revenue, Senate Democrats say they won't support Gov. Mike Easley's proposal to make more money available for prizes.

Easley's idea: More prizes equals more players, adding up to a bigger jackpot for education.

He sees it as a way to spark interest in the N.C. Education Lottery, which began to great fanfare a year ago this week. Passed by a single vote in 2005, the lottery has generated $220 million for education.

But overall, it has raised just $883 million -- well below the $1.2 billion once projected.

Easley's proposal appears to have little legislative support.

"I don't think we want to do anything with the lottery because you might see an amendment that would repeal it," said Sen. David Hoyle, a Gaston County Democrat. "We better just leave it well enough alone."

Supporters have called the lottery's initial projections unrealistic. Skeptics say they're not surprised by its less-than-stellar performance.

"What we're seeing from the lottery is what those people who opposed (it) said all along -- that the amount raised would not meet the rosy projections," said Senate Minority Leader Phil Berger, R-Rockingham. "It's an unreliable source of revenue."

Actually, i did see that coming. Along with a whole lot of other folks.

I don't really care if the State wants to be in the gambling business. People should be allowed to make their own decisions whether or not they want to participate in these kinds of games. But don't bet the educational system on the lottery. It's a losing proposition.

(h/t to Blue NC)



  • What pisses me off the most about the so-called "NC Education Lottery" is that most of the money is not going to education. I've been wondering how much revenue would actually wind up going to education; the story in the Charlotte Observer (off the BlueNC article you've linked to) seems to show that less than 25% of the revenue from the lottery is going to education. Oddly, the same article says that 35% is supposed to go to education. What I don't see amidst all the figures is how much money is spent by the people of NC to generate that $220 million in educational revenue. I guess I could go looking for the answer, but I figure it would just piss me off.

    By Blogger Joe, at 12:23 PM  

  • in theory, the lottery is supposed to pay for itself.

    that is, its marketing budget is made up of what's left after prize money, operating expenses, and educational contributions are made from revenues.

    when there's a shortfall, guess who takes the hit?

    not the marketing budget.

    By Blogger Barry Ragin, at 1:45 PM  

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