Anyone who made it past third grade math understands that buying a state lottery ticket is little more than a quick way to pay taxes.
So it is more than a little funny to see a university business professor in Virginia get upset enough to sue his state after learning that he was buying tickets with absolutely no chance of a big payoff.
Kentucky's Senate picked up on the idea to stop advertising the lottery to save money. While House Dems would have little of it, the idea is too good not to come back.
As ridiculous as it is to expect Kentuckians to go to the store and buy a lottery ticket because they saw a tv advertisement, it is foolish to expect lottery revenues to keep fueling our big spenders forever.
Probably not a bad idea to assume the Virginia lawsuit marks the beginning of the end for state lotteries.
Either way though, we should seriously reconsider placing so much confidence in such a bad bet. Wouldn't it be better to eliminate business taxes and watch the economic growth expand opportunity in the state?
