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State senator wants to repeal Arkansas Lottery
Thu, 3 Dec 2009 04:20:00 GMT
A state senator who wants to abolish Arkansas' new lottery is scheduled to present her case Wednesday to a legislative panel. Sen. Sue Madison, D-Fayetteville, will ask the House and Senate committees on state agencies and governmental affairs to adopt
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Beware of Spanish Lottery Scam – Cllr Peter Anderson
Thu, 3 Dec 2009 03:54:00 GMT
advised people to be aware of a scam notifying people of windfall winnings in the ‘El Gordo Spanish Lottery’. Peter Anderson said: “I have been approached by a constituent who received notification that they had won close to one million pounds in
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Winning lottery ticket sold in city remains at large
Thu, 3 Dec 2009 03:53:00 GMT
A winning Oregon Lottery ticket, sold in Milwaukie for a $2.2 million “Megabucks” jackpot, remains outstanding three months after the drawing. The Saturday, Aug. 29, 2009, Megabucks drawing resulted in 8,124 winning
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Omaha, NE Lottery – Is today your lucky day? Not if you don't play. Try your skill and play the lottery in Omaha, NE.
Games of Chance in Omaha, NE
You know how people say getting hit by lightning is a “million-in-one shot?” It’s actually closer to 244,000 to 1, over a lifetime of 80 years. The typical Omaha, NE lottery jackpot is something like 500,000 to 1. That means you’re more likely to get hit by lightning twice than win the Omaha, NE lottery jackpot. But who cares about math! You’re about to win a million bucks!
Strictly speaking, the lottery is a form of gambling that involves casting and drawing lots to win a prize. In some places it is illegal, and in others, like Omaha, NE, the government endorses and may even organize it.
If you’re thinking of playing the Omaha, NE lottery, make sure you have a set amount you’re willing to spend. You don’t want your whole paycheck to go to the state, do you? Be careful, and have fun!
Lotteries come in many formats. The prize can be a fixed amount of cash or goods. In this format there is risk to the organizer if insufficient tickets are sold. More commonly the prize fund will be a fixed percentage of the receipts. A popular form of this is the "50-50" draw where the organizers promise that the prize will be 50% of the revenue. Many recent lotteries allow purchasers to select the numbers on the lottery ticket resulting in the possibility of multiple winners.
The purchase of Omaha, NE lottery tickets by large numbers of people is arguably economically irrational. However, in addition to the chance of winning, the ticket may enable some purchasers to experience a thrill and to indulge in a fantasy of becoming wealthy. If the entertainment value (or other non-monetary value) obtained by playing is high enough for a given individual, then the purchase of a lottery ticket could represent a gain in overall utility. In such a case, the monetary loss would be outweighed by the non-monetary gain, thus making the purchase a rational decision for that individual. That's right.
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