Idaho has been running a state lottery since 1989. Since then,
it’s paid out more $2.6 billion in prizes to players. The lottery has
earned Idaho roughly twice that much. Most of the money is used to support
the public school system. The rest is put into the permanent building fund for state
operated facilities like colleges and universities. Retailers receive a 5%
commission on each ticket they sell, and they’re also given a percentage of the
winnings from those tickets. So, the lottery also benefits local businesses. Yes,
it’s a tax on the gullible. But someone has to win, right? Brad Moss, a
business owner in Meridian has actually won six times. Last week hit his biggest
jackpot: $250,000. He says he plans to use the money to fund his daughter’s future
education. The IRS will take at least 25% of that, and Idaho will want at least
13% back. But he’ll still have some left over.
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