Right. The state still loses money when this roll-down happens, but this seems to have been intended as marketing, which makes measuring its total impact harder.
Right. The state still loses money when this roll-down happens, but this seems to have been intended as marketing, which makes measuring its total impact harder.
Well, wether the state is losing money or not when the roll-down happens depends on how you define "losing" in this context, or rather, I suppose, on bookkeeping. I would say not, for the simple reason that although the payout on rounds where the roll-down happens may exceed the income on that particular round, the excess payout, so to speak, is made with money that, as I understand it...
"In 2005, Dr. Zhang was having an ongoing discussion with friends about the Lottery, with Dr. Zhang taking the view that it offered poor odds and was a tax mainly on poor people. To bolster his argument, he began analyzing the Massachusetts Lottery’s various games. But when he got to Cash WinFall, he was shocked to find that during roll-down drawings the odds were in the bettor’s favor."
Full story here - it's rather engrossing.
http://www.mass.gov/ig/publications/reports-and-recommendations/2012/lottery-cash-winfall-letter-july-2012.pdf