Though not 'recession-proof,' lottery is still important
The Traveler Editorial Board
Issue date: 4/1/09 Section: Opinion
Gov. Mike Beebe last week signed into law the new state lottery legislation, which will fund college and university scholarships throughout Arkansas and push forward the state's goal to have the lottery implemented by the fall of this year.
But some Arkansans are still protesting the looming lottery.
Lt. Gov. Bill Halter, who proposed the legislation, has estimated that the lottery would provide up to $100 million in state scholarships.
However, according to today's front-page article, members of the Arkansas Faith and Ethics Council say that the lottery would raise no more than $50 million for state scholarships.
Regardless of the morality of implementing a state lottery, the legislation has been signed into law, and $50 million is still plenty of money to give graduating high school seniors the opportunity to attend a college or university in the state.
Opponents do have a point, however, when they cite the numerous reports that claim the lottery industry is hurting during this economic crisis. According to a December article in The Wall Street Journal, for example, ticket sales are down 10 percent in California and more than 4 percent in Texas - not good for an industry once touted as "recession-proof."
Whether the Arkansas lottery brings in $50 million, $100 million or more, though, the net proceeds are still being devoted entirely to student scholarships, and the importance of that can't be denied.
But some Arkansans are still protesting the looming lottery.
Lt. Gov. Bill Halter, who proposed the legislation, has estimated that the lottery would provide up to $100 million in state scholarships.
However, according to today's front-page article, members of the Arkansas Faith and Ethics Council say that the lottery would raise no more than $50 million for state scholarships.
Regardless of the morality of implementing a state lottery, the legislation has been signed into law, and $50 million is still plenty of money to give graduating high school seniors the opportunity to attend a college or university in the state.
Opponents do have a point, however, when they cite the numerous reports that claim the lottery industry is hurting during this economic crisis. According to a December article in The Wall Street Journal, for example, ticket sales are down 10 percent in California and more than 4 percent in Texas - not good for an industry once touted as "recession-proof."
Whether the Arkansas lottery brings in $50 million, $100 million or more, though, the net proceeds are still being devoted entirely to student scholarships, and the importance of that can't be denied.
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the_bob
the_bob
posted 4/01/09 @ 11:42 AM CST
10% and 4% are nothing compared to the general market downturn. Lotteries have often been called a tax on the poor. In fact, the lower middle class and below purchase a disproportionate amount of the tickets. (Continued…)
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