I notice that the jackpot in next Tuesday’s LottoMax is worth $60 million plus another $6 million in extra prizes. Beyond the issue of lotteries being a tax on the poor based entirely on a greedy society, the total prize fund seems ridiculous to me.
People will still buy the tickets if the prize was capped at, say, $25 million. After all, everyone is aware that the infinitesimally tiny odds of winning don’t change dramatically with the inflated prizes. And this week alone, for example, we would have an additional $41 million to distribute to help solve some of society’s genuine problems — affordable housing, mental health issues, increased use of food banks, infrastructure in First Nations’ communities, etc., etc.
Capping lottery prizes at this level would produce hundreds of millions a year spread around for the general welfare. Wouldn’t this be more worthwhile than creating a small number of extremely lucky millionaires, while still allowing the “dreams” that $25 million could bring?