Even with a nearly $1 billion jackpot, Mega Millions isn't worth playing, writes TomJoyceSports.
The jackpot for Friday’s drawing will be $940 million, a sharp increase from the $785 million jackpot offered on Tuesday.While $940 million is life-changing money and may tempt you to play the lottery, the massive prize is why people should avoid playing Mega Millions or any lottery game.
State lotteries are not run by generous people who want to give you money. Instead, states run lotteries so they can take more of your money, making the lottery more of a voluntary yet regressive tax. The average adult in the United States spends $325 per year on lottery tickets. However, low-income people are more likely to play and spend a higher portion of their income on lottery tickets than the rest of the country.
Additionally, households earning under $13,000 per year spent 9% of their income on lottery tickets, according to a 2012 report. Therefore, the lottery is taking money from people who need it to fund a government that presumably gives welfare benefits to many of these same people.
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