Lottery Sales Grow With Jackpots

Lottery tickets have historically been among the many products that suffer notably from economic downturns, becoming less important as consumers’ disposable income drops. However, huge jackpots are proving to draw plenty of attention, helping lottery commissions to post profits in several areas that would otherwise be suffering.

More than 30 states play the Powerball lottery, whose jackpot has now risen to $245 million, while its main competitor, Mega Millions, offers its lucky winner a jackpot of $170 million. Neither total sets a new record for size of jackpot, but the prospect of becoming a millionaire after an investment of a single dollar has many Americans hooked.

Several state lottery commissions have noticed a spike in ticket sales recently, allowing states like New York’s lotteries to post a profit. Internet searches related to “lottery” or “Powerball” have even become more popular, with related searches taking up 14 of the rising 100 searches on Google.

Although the odds remain astronomically stacked against the lottery player, that apparently doesn’t stop people from dreaming.

Powerball (Image: Flickr)