South Carolina Citizen Journal

December 17, 2007

South Carolina Powerball is economic “Powerdrain”

Filed under: Economy, legislature, Sanford, South Carolina — Tags: , , , , , — NotforHire @ 2:47 pm

There was a well balanced article in The State Sunday about the South Carolina Education Lottery. I for one see both the pros and cons of a state run lottery, but I don’t have a particular ethical dilemma with the system. I have even been known to play the lottery from time to time, it being my little donation to our state school system.

One area the article did not address is, what is the net effect of the multistate powerball game on the wealth of our state? It seems that while good for increased funding of education, it is in fact a net loss of wealth to our state. I mean, if we’re watching $50 million flow out of the state for every $10 million going to education, then that hardly seems like a lottery structure that is good for the state of South Carolina.

I put in a call to SC Education Lottery to get the specific dollar figures and was referred to the Multistate Lottery Association, which runs Powerball. This was disappointing because I’d like to think that the people running things on our end would know the answer to a question directly concerning the financial health of our own state. Apparently that is not the case.

I called the Multistate Lottery Association but was also unable to get an answer to my question.

I think it’s time for the Governor’s office and perhaps the legislature to look into this matter and expose SC Education Lottery’s involvement in Powerball for what it really is, a huge “Powerdrain” on our economy and the wealth of our state.

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