Thursday, November 30, 2023

Crazy Comparisons Of Lotteries To The Marijuana Industry

 

 

People are starting to make pitstops to pick up their lottery tickets.  The “pot” is huge and people are willing to toss a few extra dollars to dream. Lines are long and the morning shows are asking “what would you do if you win”.  A hunt for the winner will follow and they will share they just want to do right by their friends and family.

Lotteries have a long history. Starting in ancient Rome and used in Renaissance Europe to raise money for churches and other government projects. They won acceptance in the US with the promise of helping with education funding. Marijuana use dates before lotteries as it was (and still is) used as medicine for things including pain and inflammation.

Sales of state lotteries in the United States reached approximately $107.92 billion 2021. A Powerball lottery set records, coming in at a whopping $1.6 billion. The industry is over 4 times the size of the marijuana market in 2021 where is was around $22 billion.  These two industries help you kick back, dream and chill.

 

marijuana money
Photo by Olena Ruban/Getty Images

Forty-five states have lotteries with Alabama, Alaska, Hawaii, Nevada and Utah opting out.  For cannabis 23 states have recreation and 40 have recreational. Idaho, Nebraska, Indiana, Kansas and Tennessee so far say fully no to any legal marijuana. Interesting there is no crossover.

RELATED: Unlicensed Shops in NYC Are Doing Better Than The Naked Cowboy

Gallup polls have found that state lotteries are the most popular form of gambling in the U.S., with roughly half of respondents saying they purchased a lottery ticket in the past 12 months. it is affordable with prices as low as $1 or $2 per ticket.  About 66% of the population play the lottery at least once a year.  Almost 90% of the population believes marijuana should be legal and roughly 18% of the population use marijuana at least once a year.

Convenience store chain Circle K has been a leader in both cannabis and the lottery. They have been putting a structure in place where people are able to buy marijuana products along with cigarettes and snacks at gas stations. Now they announced they are partnering with Jackpocket, a third-party app that provides a secure way to order official state lottery tickets, for exclusive perks for lottery players.

RELATED: California or New York – Which Has The Biggest Marijuana Mess?

State Government are the big winners in both.  For lotteries, they take in about a third of each lottery jackpot.  In states where marijuana is fully legal, it has supposed alcohol tax revenue, despite selling fewer products.

The Richest Cannabis Businesses In 2020
Photo by Maklay62 via Pixabay

While the money spent on lottery tickets give you the ability to perhaps dream of a different life (and for a very few – live the life), the purchase of legal marijuana allows you to chill or treat your medical issue every time.  Money well spent.

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