The coronavirus has rattled state lotteries across the country
The coronavirus pandemic has been a roller coaster for state lotteries across the country, with some getting a boost from the economic downturn and others scrambling to make up for revenue shortfalls.
State lottery revenues do not make up a huge portion of a state budget. But because the monies are often directed to specific programs like education, environment or veterans programs, they can have an outsized impact when there are upticks or declines in sales.
“We have known for some time that people end up playing the lottery more often or with more of their dollars when they get put in dire circumstances, when they have a drop in income,” said Cornell University business professor David Just, who has studied lottery purchases.“Unemployment is one of the potential big drivers for something like that. We saw that at the beginning of the pandemic,” he said.
In Massachusetts, sales were down by about 13% in March, 30% in April and around 10% in May, leaving the lottery down 5% for the fiscal year. Unlike Texas, which kept many retail outlets open, Massachusetts temporarily closed more than 1,500 due to the pandemic. That left players with fewer places to spend their money.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mississippi statehouse shuttered for 2 weeks as dozens of lawmakers contract coronavirusThe statehouse in Mississippi has been closed as a surge in novel coronavirus cases now includes at least 26 lawmakers — both representatives and senators — and 10 Capitol employees.
Read more »
Coronavirus, unemployment, uncertainty imperil Texas workers: 'It trickles down'As coronavirus spikes in Houston, refinery towns to the east that boomed before the pandemic now face business closures and layoffs.
Read more »
China's jobs problem runs deeper than the coronavirusNew hiring and management practices could help China boost productivity in the economic uncertainty of the post-coronavirus environment.
Read more »
Florida sheriff wins battle with DeSantis administration over coronavirus dataJust two days after a Florida sheriff announced the state had abruptly cut him off from data about local coronavirus cases, state health authorities have reversed course.
Read more »
Meet The Companies Using VR To Treat Coronavirus-Related Stress And AnxietyA growing number of virtualreality solutions are coming to the market which promise to alleviate many of the stresses and anxieties caused by the coronavirus. stress
Read more »