The paper “ The Lottery as Source of State Revenue” is a well-turned variant of the research paper on finance & accounting. The purpose of this research paper is to assess the fact that although the lottery generates gambling issues, it brings a lot of much-needed revenue to states, and has a positive impact on the American economy. More than 13 states in the US have established and operated lotteries as a source of generating additional revenue. This research paper shall begin by providing a brief introduction to the subject.
The paper shall then examine the lottery as a source of state revenue. In this section, various statistics and figures shall be provided to back up the fact that although the lottery generates gambling issues, it brings a lot of much-needed revenue to states, and has a positive impact on the American economy. The third section shall investigate gambling issues associated with state lotteries. In this section, the adverse implications resulting from pathological gambling shall be the main focus. Finally, this research paper shall provide a conclusion and recommend crucial measures of addressing gambling issues associated with state lotteries. IntroductionSzakmary and Szakmary (1995, p. 1167) observe that most academic works have depicted state lotteries from a negative perspective.
In this regard, they postulate that state lottery generates only a tiny portion of the state’ s revenue and that these revenues are so volatile that the state ought not to depend and should not depend on them. In addition, the high administrative cost reduces the rationale of relying on it as a source of state revenue (National Conference of State Legislatures, 2013; Szakmary and Szakmary, 1995, p. 1167).
Mikesell (2001. p. 86) equally observes that 35 years back state lotteries were viewed as prone to unpredictable change. However, contrary information has been developed to affirm that lottery can act as a source of state revenue. The positive realizations in 1964 in New Hampshire and 1970 in New Jersey that the lottery could constitute a profitable engagement disapproved of the earlier thinking (Mikesell, 2001, p. 86). For instance, the National Conference of State Legislatures, (2013) indicates that lotteries contribute up to 3% of state revenue in America. This research paper assesses the fact that although the lottery generates gambling issues, it brings a lot of much-needed revenue to states, and has a positive impact on the American economy.
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