Another problem with lotteries: the payout is usually on the order of 60-65%, which makes it really, really hard to make a profit, even before taxes.
I once heard of a mafia boss who said that their numbers rackets were much more honest than the governments’: They paid out about 80%, and didn’t tax the winnings.
Another problem with lotteries: the payout is usually on the order of 60-65%, which makes it really, really hard to make a profit, even before taxes.
I once heard of a mafia boss who said that their numbers rackets were much more honest than the governments’: They paid out about 80%, and didn’t tax the winnings.