Holy Cross Professor of Economics Discusses Powerball Lottery

November 29th, 2012 by 

With the Nov. 28 Powerball jackpot climbing to a record $550 million, millions of Americans from 43 states bought lottery tickets in hopes of winning the huge payout. As associate professor of economics Victor Matheson noted in several national news outlets, Powerball is one of the biggest games of complete chance that exists today.

“Teeing up and getting a hole in one, that’s pretty unlikely, right?” asked Matheson, in an on-camera interview with NECN.com. “Now your first shot goes in, a hole in one, and then you go up and take a second shot and that’s a hole in one as well. That’s the same odds of you winning the Powerball,” he continued.

Matheson also discussed both the personal and wider economic impact of the lottery, and in the Christian Science Monitor, he called it ‘a highly regressive tax [that preys] on people who are down on their luck and don’t see any other options to make their life better.”

Speaking to budget issues that state and local governments face every day, Matheson contended that the lottery is essential to bolstering state budgets, but that they would be further boosted if individuals purchased local goods and services.

Read Matheson’s analysis of Powerball:

This ‘Holy Cross in the News’ item by David Cotrone ’13.

| More
Tags
Categories
In The News

Comments are closed.

Sort By:
or
11/21/14 Photo Gallery: Women in Business Conference Perfect Opportunity for Alumnae, Students to Network
11/20/14 Vice President for Mission Named at Holy Cross
11/19/14 Video, Photo Gallery: Students Meet With Neil deGrasse Tyson in Exclusive Seminar
11/19/14 ‘Remembering The Jesuits Whose Murders Brought An End To Salvadoran Civil War’
See All
See All

Featured Videos

See video
Video, Photo Gallery: Students Meet With Neil deGrasse Tyson in Exclusive Seminar

Watch Video >
See video
Video: Fall Foliage Makes for Breathtaking Scenes on Holy Cross Campus

Watch Video >
See video
Artist-in-Residence Cristina Pato and Renowned Composer Osvaldo Golijov to Lead Concert and Panel Discussion

Watch Video >
More

What’s Happening on Campus

11/23/2014

Holy Cross Chapel Artist Series: Music of Christopher Willcock, S.J.

See More >
12/04/2014

Christmas Tree Lighting presented by the Purple Key Society

See More >
12/11/2014

College Choir and Chamber Singers Present Advent Festival of Lessons & Carols

See More >
More

Holy Cross in the News

11/19/14

‘Remembering The Jesuits Whose Murders Brought An End To Salvadoran Civil War’

WBUR

WBUR, Boston’s NPR news station, reported from San Salvador, El Salvador, during the commemoration of six Jesuit priests murdered by the Salvadoran army 25 years ago in the...

11/14/14

‘Astrophysicist Tyson sells spirit of science: Cosmos superstar shines at HC’

WBUR | Telegram & Gazette | Worcester News Tonight

Astrophysicist Neil deGrasse Tyson lectures to a packed house at the College of the Holy Cross last night, where more than 2500 people were in attendance.  The talk, titled...

11/07/14

Biology Professor’s Research on Extinct Dodo Bird Makes International Headlines

International Business Times | Yahoo! News | Wired

With new insight on perhaps one of the most distinguished animals to have gone extinct in human history, Leon Claessens, associate professor of biology at the College of the...