Can legalizing lotteries bring about a positive change in the governance? While this is still debatable in the other parts of the world, Florida has successfully completed over three decades as a state with the legal status for lotteries.
In 1986, following a referendum in Florida regarding the legalization of the gambling, a constitutional amendment was put in order for legalizing the state lottery. Further, the provision for the utilization of the fund was dictated for a noble initiative. This provision provided for the utilization of the fund entirely for supporting public education.
Lotteries and Games
Florida has a lot of diverse games, such as the Second Chance Drawings and Promotions, Florida Mega Millions, Florida Powerball and much more. There are scratch cards, lotto draws and other games too. All of them are legal for an entire lifetime. However, in case of their disbandment, the winners are promised a payout for about 20 years. The largest lotto draws in Florida is the Florida MegaMillions and Florida Powerball. The estimated winning crosses over INR 100 crores.
The Odds of Winning the Florida Lottery
The odds of winning a lottery is exactly 1 in 14.7, which is a fairly high number. However, this depends largely on the game type. For instance, the original Florida lottery has a winning odd of approximately 1 in 22,957,480.
How Does It Support the Educational System?
As per the state lotto, the core principle is to fund the public schools and strengthen the educational system. Florida has raised a remarkable amount of money worth INR 31 crores in a span of 30 years. Moreover, the lotto has successfully raised funds for Florida’s Bright Futures Scholarship, 1997. This scholarship was created to fund the higher education of the students. In the last two decades, it has raised INR 5 crores that have assisted over 7,50,000 students.
Florida sets an example for the rest of the world, by leveraging the revenue earning potential of the lotteries and channelizing it towards building a better state. This has not only helped scores of students pursue education but also the many individuals who have made it big by winning lottery money.
The legal status of the lottery in India is a reality in a few states, which have realized the potential for earning revenue and utilize it for funding state activities. While the legality of India lotteries is still unclear in India, Indian players can win big by indulging in online International lotteries.